The Philippine Deposit Insurance Corporation (PDIC) recently announced the increase in the Maximum Deposit Insurance Coverage (MDIC) from P500,000 to P1 Million per depositor, per bank starting March 15, 2025.
This increase aims to enhance depositor protection and boost confidence in the banking system. This marks the first adjustment since 2009 when the MDIC was raised from P250,000 to P500,000.
Learn more here https://www.pdic.gov.ph/MDIC
