PDIC Insured deposit that you will get during bankruptcy of the bank

[xyberblue]

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Hello Istoryans,

Regarding the PDIC Insured deposits in the bank once the bank filed a bankruptcy, may I know how much do we get from PDIC if we deposit our money to this bank in a time deposit scheme?

Let say for example, I am going to deposit 100,000 to a bank in time deposit scheme with an interest rate of 4% with a maturity date of 5 yrs. Then after the maturity date, you decide to withdraw your money but unfortunately, the bank filed a bankruptcy. Since your deposit is PDIC Insured (w/c is a maximum of 250,000), how much do we get from PDIC? Is it still our initial deposit amount which is 100,000? Or is it the amount plus the interest?

Bankers, it's your turn.

[ajol]

upto 250,000 you can get it from PDIC office....

if your money reaches 300,000

you will only get 250,000

if your money reaches 200,000....

you will get the 200,000.00

[edblasco]

you will get pricipal amount plus interest but not exceeding 250,000 pesos

[lorenzoleo]

Hehehe! It is much riskier to put your money in a bank. That safest place where to place money is in the basket where the bank grows it's money.

[jay.gorres]

Hehehe! It is much riskier to put your money in a bank. That safest place where to place money is in the basket where the bank grows it's money.

where d i bro?

[lorenzoleo]

Directly put it into a Financial Industry. And choose a reliable one. Ask if what banks are there clients.
Want to know more, you can PM me and set for an appointment. I can teach you basic concepts.

[jay.gorres]

Directly put it into a Financial Industry. And choose a reliable one. Ask if what banks are there clients.
Want to know more, you can PM me and set for an appointment. I can teach you basic concepts.

can you discuss them here i nthe thread para daghan maka learn?

[lorenzoleo]

Of course I can give you an one example, a Mutual Fund.
It involves risk but you are an owner of the share not a loaner.
The risk in a mutual fund diminishes in long term.

If you open a time deposit in a bank, the bank is smiling behind you because they know that if they place it in a mutual fund, it could beat the inflation and the risk diminishes as time goes by.
And then the bank gives you a fixe interest rate even les than 2%, that is why they can gain from your deposits.

The secret in a mutual fund investing is just by accumulating shares.

[jay.gorres]

thanks thanks..unsa ma recommend nimo nga mutaul fund bro?

pero dba gamai ra man ghapon ang potential earning sa mutual fund?

[lorenzoleo]

Hehehe!. Check this out. Philequity Management, Inc.
Cge ra kag accumulate ug share ana bro, ako style ana kay dili nako bultohon ug butang, ako na i spread per month.

Kung gusto ka mu learn more, pwdi ka mu set ug appointment nako para ako sad ma arrange akong shcedule.