Philippines Deposit Insurance Corporation (PDIC) is celebrating their 50th years of service to the Filipino People. One of PDIC’s campaigns is to spread and increase the financial literacy of every Juan in the country.
The Philippine Deposit Insurance Corporation (PDIC) was established on June 22, 1963 by Republic Act 3591 to provide depositor protection and help maintain stability in the financial system by providing permanent and continuing deposit insurance. Effective June 1, 2009, the maximum deposit insurance coverage is P500,000 per depositor. All deposit accounts by a depositor in a closed bank maintained in the same right and capacity shall be added together. A joint account shall be insured separately from any individually-owned deposit account.
Last February 26, 2014 PDIC won a prestigious Anvil Award of Merit for Usapang Pera: Mga Dapat Alamin, a guidebook that provides easy-to-understand guidance and aims to shed light on the intricacies of banking and financial transactions.
The Guidebook is a collaboration of PDIC and Efren Ll. Cruz, a well-known advocate of financial literacy here in the Philippines.
The Guidebook may be downloaded for free from PDIC website (www.pdic.gov.ph) or you can also get your free copy by clicking the link below.