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Deposits are insured by PDIC up to P500,000 per depositor
PDIC is an attached agency of the Department of Finance
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FREQUENTLY ASKED QUESTIONS   

If the deposit account in a closed bank is more than P500,000.00, what happens to the excess of the maximum amount of insured deposit?

The claim for the uninsured portion of the deposit is a claim against the assets of the closed bank.

The claim may be filed with the Liquidator of the closed bank within sixty (60) days from publication of notice of closure. However, payment of said claim will depend on the bank’s available assets and approval of the Liquidation Court. The schedule of payment beyond the P500,000.00 maximum insurance shall be based on priorities set by law.

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PDIC is a government instrumentality created in
1963 by virtue of Republic Act 3591, as amended,
to insure the deposits of all banks. PDIC exists to
protect depositors by providing deposit insurance coverage for the depositing public and help promote financial stability
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Questions? Need Help? Click Frequently Asked Questions Trunkline.: (632) 8841-4000
Hotline: (632) 8841-4141
(for Metro Manila clients)
Fax No.: (632) 8841-4085
Email: pad@pdic.gov.ph
Client outside Metro Manila may call
Toll Free: 1-800-1-888-7342 or
1-800-1-888-PDIC