I tried to generate a Time Deposit Certificate. The PDIC clause still shows the old one that states, “Up to P500,000 Insured Per Depositor.” Why is that?

Hi, luv! All Time Deposits created before the new PDIC clause took effect will have certificates that still show “Up to P500,000 Insured Per Depositor.” This is because the Time Deposit certificate that was generated reflects the placement date which happened in February. 

Don't worry! As mandated by the PDIC, your deposits are now insured up to P1 Million. You may disregard the note on your certificate.