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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   

What types of deposits are insured by PDIC?

Except for the exclusions stipulated in RA 9576, deposits of all commercial banks, savings and mortgage banks, rural banks, private development banks, cooperative banks, savings and loan associations, as well as branches and agencies in the Philippines of foreign banks and all other corporations authorized to perform banking functions in the Philippines, are insured with PDIC. As for Philippine banks with branches outside the country, RA 9576 stipulates that subject to the approval of the Board of Directors, any insured bank with branch outside the Philippines may elect to include for insurance its deposit obligations payable at such branch.

Foreign currency deposits are also insured by PDIC pursuant to RA 6426 (“An act instituting a foreign currency deposit system in the Philippines, and for other purposes”) and Central Bank (CB) Circular No. 1389. Depositors may receive payment in the same currency in which the insured deposit is denominated.

Exclusions from deposit insurance coverage as stipulated in R.A. No. 9576:

  1. Investment products such as bonds, securities and trust accounts;

  2. Deposit accounts which are unfunded, fictitious or fraudulent;

  3. Deposit products constituting or emanating from unsafe and unsound banking practices;

  4. Deposits that are determined to be proceeds of an unlawful activity as defined under the Anti-Money Laundering 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