Creditors of a closed rural bank in Oriental Mindoro have until August 4, 2025 to file claims for their money, the country’s deposit insurance agency has announced.

The Oriental Tamaraw Rural Bank of Naujan was shut down by Bangko Sentral ng Pilipinas (BSP), in May 2025 following financial difficulties. 

The Philippine Deposit Insurance Corporation (PDIC) has since taken control of the bank’s assets and begun the liquidation process.

The closure adds to a growing list of rural bank failures in the country, with at least three rural banks shuttered in 2024 alone, including the Community Rural Bank of Medellin in Cebu. In 2023, the BSP closed seven rural banks.

PDIC officials said creditors can submit claims through email, post, or in-person visits to their office in Makati City. 

The agency particularly noted that depositors whose account balances exceed the maximum insurance coverage of P1 million pesos should file claims for the uninsured portion.

The deposit insurance limit was doubled from P500,000 pesos in March this year, providing enhanced protection for Filipino savers.

Claimants can file through the dedicated email naujan-pad@pdic.gov.ph or visit the Public Assistance Centre during weekday business hours. The agency has advised scheduling appointments to avoid delays, with forms available on its website.

PDIC warned that any claims submitted after the August deadline will be rejected. 

Those whose claims are denied can appeal to a liquidation court within 60 days of receiving notification.

PDIC, established in 1963, serves as the country’s deposit insurance agency and takes over failed banks to protect depositors’ interests. The agency has assured that all personal data collected during the claims process will be handled in accordance with the country’s data privacy laws.