Deposit Protection Corporation (DPC) has increased the guarantee amount for all eligible depositors of banks from Rs250,000 to Rs500,000. The Board members of the Corporation made this decision in their meeting held on September 06, 2021.
This enhanced guarantee amount now provides complete protection to up to 95% of the eligible depositors. The main objective of the deposit protection scheme is to safeguard depositors’ interests and further enhance their trust in the country’s banking sector.
The deposit protection facility applies to all eligible depositors and does not require any further subscription or registration. The guarantee amount or protected deposit becomes payable to eligible depositors only if the State Bank of Pakistan declares a bank as a failed bank and is not payable under any other circumstances.
For more information, clarity
and guidance to the depositors, detailed Frequently Asked Questions (FAQs) have been developed and posted at the DPC website: http://www.dpc.org.pk/index.asp.