Philippines set to increase deposit insurance in 2025

The PDIC’s current maximum insurance coverage amount is at $8,522.32.

The Philippine Deposit Insurance Corporation (PDIC) is preparing to announce an increase in deposit insurance coverage for bank deposits in 2025.  

Currently, the PDIC’s maximum insurance coverage amount is $8,522.32 (₱500,000).

The agency also confirmed that its Deposit Insurance Fund (DIF) is sufficient to cover risks in the banking system, but the increase is to account for the country’s inflation.

Latest data from the Philippine Statistics Authority (PSA) showed that full-year 2024 headline inflation stood at 3.2%, easing from the 6.0% in 2023.

($1.00 = ₱58.67)