INSURED DEPOSITS

Definition :
Insured deposits are the amount
due to any depositor for legitimate
deposits in an insured bank net of
any obligation of the depositor to the
insured bank as of the date of
closure, but not to exceed Five
Hundred Thousand Pesos
(P500,000.00).

INSURED DEPOSITS
Deposits of Banks
(Commercial, Rural,
Cooperatives,
Branches & Agencies
of Foreign Banks)
functioning in the
Philippines.
PH banks with
branches outside the
country

Foreign currency

Insured with PDIC

Subject to the approval

of the Board of
Directors, may elect to
include its deposit
obligations payable at
such branch for
insurance.
Insured by PDIC and

Deposit Type

Savings
Special Savings
Demand/Checking
Negotiable Order of
Withdrawal
Certificate of Time Deposits

By Deposit Account

Single
Joint
Account by In trust for or
For the Account of

By Currency

Philippine peso
Foreign currency considered
as part of BSPs international
reserves

DEPOSITS/TRANSACTIONS NOT ALLOWED TO

BE INSURED

Investment products such as bonds,

securities and trust accounts;
Deposit accounts which are unfunded,
fictitious or fraudulent;
Deposit products constituting or
emanating from unsafe and unsound
banking practices
Deposits that are determined to be
proceeds of an unlawful activity as defined
under the Anti-Money Laundering Law.

DEPOSIT PRODUCTS CONSTITUTING OR EMANATING FROM

UNSAFE AND UNSOUND BANKING PRACTICES

Deposit transaction without the approval

or adequate controls required under
existing laws, rules and regulations
Failure to keep bank records within bank
premises

 Granting high interest rates, when bank has:

a. negative unimpaired capital
b. liquid assets to deposit ratio less than
10%
Non-compliance with PDIC regulations

DEPOSITS THAT ARE DETERMINED TO BE

PROCEEDS OF AN UNLAWFUL ACTIVITY AS
DEFINED UNDER THE ANTI-MONEY LAUNDERING
LAW.
Examples : Kidnap for ransom, Plunder,
Robbery and Extortion, Jueteng, Fraudulent
Acts etc.

(Source : http://www.bsp.gov.ph/regulations/laws_aml.asp )

JOINT ACCOUNTS
Joint account (and, or,
and/or)

Separately from any individuallyowned deposit account.

Held by 2 or more
natural persons/juridical
persons

The maximum insured deposit

shall be divided into as many
equal shares. Unless, stipulated
in the document of deposits.

Held by a juridical person The maximum insured

or entity jointly with one deposit shall be presumed
or more natural persons to belong entirely to such
juridical person or entity.