Borrowers of closed Malasiqui savings bank ordered to pay

THE Philippine Deposit Insurance Corporation (PDIC), the Receiver of the closed Malasiqui Progressive Savings and Loan Bank, Inc., reminded borrowers of the bank that they are under obligation to pay their loans notwithstanding the closure of the bank.


Malasiqui Progressive Savings and Loan Bank was ordered closed by virtue of Monetary Board Resolution No. 1331.B dated August 16, 2018. It is a single-unit thrift bank located in Quezon Blvd. Extension, Brgy. Poblacion, Malasiqui, Pangasinan.


 Deposits of borrowers who have past due loans with the bank are automatically applied to their loans, by operation of law. If the loans are on current status, the borrowers may opt to apply their deposits against their loans, to avoid paying interest on their loans.


Borrowers may pay their loans and other obligations through any Philippine National Bank(PNB) branch or through postal money order (PMO) to be sent directly sent via mail to the PDIC Loans Management Department I, 5th Floor, SSS Bldg., Ayala Avenue corner V.A. Rufino St., Makati City; or by paying directly at the PDIC Public Assistance Center at the SSS Bldg., Ayala Avenue in Makati city.


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