Practice question
In 2026, D has legitimate individual deposits of P 700,000 and P 600,000 in different branches of the same insured bank, in the same right and capacity. The bank closes. Ignoring other adjustments, what is the maximum insured amount?
- P 1 million, because the P 1.3 million total is aggregated at that bank.
- P 1.3 million because every branch has another limit.
- P 2 million because there are two passbooks.
- Zero because two accounts are prohibited.
- P 600,000 only because the smaller account controls.
Legal references
- PDIC Charter as amended by RA11840, Sections5 and12–16: https://lawphil.net/statutes/repacts/ra2022/ra_11840_2022.html
- PDIC official Q&A on new MDIC, effective March15 2025: https://www.pdic.gov.ph/files/ccd/Q%26A%20on%20the%20New%20MDIC.pdf
- PDIC official insured-deposit guidance, June13 2025: https://chs.pdic.gov.ph/hc/en-us/articles/47915865936153-Estimated-Insured-Deposit
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