Pay your debt, Maximum Savings Bank borrowers told

The Philippine Deposit Insurance Corporation (PDIC), as receiver of the closed Maximum Savings Bank Inc., reminded borrowers that they are under obligation to pay their loans notwithstanding the closure of the bank. PDIC advised borrowers to transact only with authorized PDIC representatives, emphasizing that it has not engaged any person, agent or agency to collect the loan payments for and in behalf of the bank.

PDIC advised borrowers to always secure copies of official receipts issued by the PDIC, as liquidator of the closed Maximum Savings Bank.

Maximum Savings Bank was ordered closed by virtue of

Monetary Board Resolution 1704.C dated 7 November 2019. It is a five-unit thrift bank with Head Office located at 24 Antonio A Pastor Building, P. Burgos Street, Barangay 16 (Pob), Batangas. It has four branches located in Muntinlupa City; Batangas City, Batangas; Calapan City and Puerto Galera, both in Oriental Mindoro.

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 of Maximum Savings Bank may pay their loans and other obligations through any of the following modes:

1.by paying directly at any Philippine National Bank (PNB) branch. Payment should be for the account name, PDIC FAO BURL — Maximum Savings Bank Inc. Borrowers are advised to indicate their assigned Account Reference Numbers on the PNB payment slips and keep copies of the same to ensure proper recording of their payments

2. by paying through postal money order (PMO) or check payable to PDIC FAO BURL — Maximum Savings Bank, Inc. Payment should be directly sent via mail to the PDIC Loans Management Department III, 5th Floor, SSS Building, Ayala Avenue corner V.A. Rufino Street, Makati City; or

3. by paying directly at the PDIC Public Assistance Center located at the 3rd Floor, SSS Building, Ayala

Avenue corner V.A. Rufino Street, Makati City.

PDIC, as receiver, will issue official receipts for all payments received upon verification and shall send the official receipt to the borrowers through mail. Borrowers who do not receive their official receipts are advised to send by mail/e-mail/fax a copy of their PNB deposit/payment slips to the PDIC Public Assistance Department (PAD), 6th Floor, SSS Building, Ayala Avenue corner V.A. Rufino Street, Makati City or via e-mail to pad@pdic.gov.ph and to Thelma A. Peña at tbarias@ pdic.gov.ph.

PDIC, as receiver, will issue official receipts for all payments received upon verification and shall send the official receipt to the borrowers through mail.