PDIC doubles deposit insurance coverage to PHP 1M per depositor

Starting March 15, 2025, the Philippine Deposit Insurance Corporation (PDIC) will increase the Maximum Deposit Insurance Coverage (MDIC) from PHP 500,000 to PHP 1 million per depositor per bank. This was approved by the PDIC Board of Directors to provide depositors enhanced protection.

PDIC also reassures depositors that there are enough funds to cover potential claims. The Deposit Insurance Fund (DIF) will continue to grow to ensure long-term stability, in line with global standards.

The PDIC has the authority to adjust the MDIC based on economic factors, including inflation. The last increase was in 2009, and this new adjustment restores the value of deposit insurance after years of rising costs.

With this change, Filipinos can save with even greater confidence, knowing their money is secure.

Read more about the new MDIC on PDIC’s website: http://www.pdic.gov.ph/MDIC.