05/03/2025
The Philippine Deposit Insurance Corporation (PDIC) has announced that effective ๐ ๐ฎ๐ฟ๐ฐ๐ต ๐ญ๐ฑ, ๐ฎ๐ฌ๐ฎ๐ฑ, the ๐ ๐ฎ๐
๐ถ๐บ๐๐บ ๐๐ฒ๐ฝ๐ผ๐๐ถ๐ ๐๐ป๐๐๐ฟ๐ฎ๐ป๐ฐ๐ฒ ๐๐ผ๐๐ฒ๐ฟ๐ฎ๐ด๐ฒ (๐ ๐๐๐) will increase from P500,000 to ๐ฃ๐ญ ๐บ๐ถ๐น๐น๐ถ๐ผ๐ป ๐ฝ๐ฒ๐ฟ ๐ฑ๐ฒ๐ฝ๐ผ๐๐ถ๐๐ผ๐ฟ, ๐ฝ๐ฒ๐ฟ ๐ฏ๐ฎ๐ป๐ธ. This enhancement aims to provide greater protection for depositors and strengthen confidence in the Philippine banking system.
Read more here:
https://www.pdic.gov.ph/news-102926.
The announced that effective March 15, 2025, the Maximum Deposit Insurance Coverage (MDIC) for deposits in banks will be doubled from P500,000 to P1 million, per depositor, per bank. The PDIC Board of Directors approved the upward adjustment in the MDIC to provide enhanced protection to the depositing public. The adjustment in the MDIC is a proactive measure to reinforce confidence in the Philippine banking system and contribute to financial stability. For more info, visit https://www.pdic.gov.ph/news-102926