Advisories

MDIC for deposits in banks will be doubled from P500,000 to P1 million

The PDIC announced that effective March 15, 2025, the Maximum Deposit Insurance Coverage (MDIC) for deposits in banks will be doubled from P500,000 to P1 million, per depositor, per bank.

The PDIC Board of Directors approved the upward adjustment in the MDIC to provide enhanced protection to the depositing public. The adjustment in the MDIC is a proactive measure to reinforce confidence in the Philippine banking system and contribute to financial stability.

For more info, visit https://www.pdic.gov.ph/news-102926

Value Savings Account will be converted to Time Deposit

Dear Valued Customers,

Lipa Bank Inc. (A Rural Bank) would like to inform you that, effective May 15, 2025, all Value Savings Account will be converted to Time Deposit.

Thank you for your understanding and continuous support. We look forward to serving you better.

Lipa Bank Management

GCash Late Payment Charge

To our valued clients,

Effective January 1, 2025, GCash payments made after 5:00 pm shall incur late payment charges.

Thank you for your continued patronage.