PDIC rolls out eCalculator for depositors

Posted at 06/19/14 8:26 PM

MANILA – The Philippine Deposit Insurance Corporation (PDIC) has launched the web-based Deposit Insurance eCalculator to help depositors compute estimated insured deposits given the maximum deposit insurance coverage of P500,000.

The eCalculator aims to help people with several single and joint accounts in the same bank.

The new facility may be accessed through the PDIC website, www.pdic.gov.ph.

At the site, PDIC described the eCalculator as an “interactive tool that helps estimate your insured deposits in member-banks of PDIC.”

“The result generated by the eCalculator is just an estimate of your insured deposit and may not be saved when you exit the eCalculator,” PDIC said.

Before depositors can use the eCalculator, they will be required to agree to a disclaimer noting that “results arrived at using the eCalculator shall not bind PDIC to consider, accept, or pay the estimated amount of insured deposit(s) as generated by the eCalculator.”

PDIC President Valentin Araneta led the launch of the eCalculator in SM City Fairview in Quezon City on Thursday, coinciding with the celebration of the 12th Depositor Protection and Awareness Week (DPAW) commemorated from June 16 to 22 every year.