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Deposits are insured by PDIC up to P1 million per depositor
FREQUENTLY ASKED QUESTIONS   

4. What are PDIC’s responsibilities as deposit insurer?

As the state deposit insurer, the PDIC protects depositors by providing a maximum deposit insurance coverage (MDIC) of ₱1 million per depositor per bank. In case a bank is ordered closed by the Monetary Board of the Bangko Sentral ng Pilipinas (BSP), the PDIC pays depositors of the closed bank their insured deposits, but not to exceed the MDIC.

The PDIC also assesses banks and collects assessments equivalent to 1/5 of 1% of bank’s total deposit liabilities. Assessments form part of the PDIC’s Deposit Insurance Fund (DIF), which the PDIC manages. The DIF is the PDIC’s capital/equity account, from which payments for deposit insurance are sourced. As Deposit Insurer, the PDIC prudently manages and builds up the DIF to ensure that it remains ready in case of potential insurance calls.

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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. PDIC is an attached agency of the Bangko Sentral ng Pilipinas.
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