For depositors who need to file claim for deposit insurance, claims must be filed within 24 months from date of bank takeover.

Depositors with uninsured deposits, or with deposits in excess of the MDIC, are also considered creditors. Hence, depositors must file their claim for uninsured deposits within 60 days from the publication of the Notice to Creditors by the PDIC.

Depositors with deposit balance exceeding the MDIC, who have filed their deposit insurance claims within the 60-day period, no longer need to file claims against the closed bank’s assets for the excess deposits. Having filed a claim for the deposit insurance within this period, the claim for the uninsured portion is already deemed filed.