I recently discovered that the Philippine Deposit Insurance Corporation (PDIC) has increased its Maximum Deposit Insurance Coverage (MDIC) from ₱500,000 to ₱1,000,000. This change, which took effect on March 15, 2025, provides depositors with enhanced financial protection.
Under this new coverage, depositors can rest assured that, in the unfortunate event of a bank failure, PDIC will guarantee the return of up to ₱1,000,000 per depositor, per bank. For instance, if you have ₱150,000 saved in a bank that goes bankrupt, your entire deposit is covered, ensuring you won’t suffer a financial loss.
This update is great news for Filipino depositors, reinforcing trust and stability within the banking system. It’s always important to stay informed about financial policies that directly impact us—knowledge is power, especially when it comes to securing our hard-earned savings.
