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December 12, 2025 | 8:00am
As Aegis famously sang, "Kaya't ibigay n'yo na ang aming Christmas bonus, nang maging maligaya tayong lahat sa araw ng Pasko."
STAR / file
MANILA, Philippines — As employees receive their much-awaited Christmas bonuses, the Philippine Deposit Insurance Corp. (PDIC) listed down several tips on how to turn these bonuses into savings.
The PDIC said the first step is to know the most crucial information about one's bank by learning about its owners and current financial condition.
"In the same way you read about product descriptions and reviews before adding an item to the cart, take the time to learn so your bonus when deposited in a bank lands in a place that truly earns your trust," said the government entity.
After knowing about the people who run and own the bank, it is also important to check what it has to offer based on its clientele's needs or demographics, whether for short-term goals or long-term plans.
The PDIC, however, reiterated that deposits are different from investments, reminding the public it is mandated to provide deposit insurance to protect depositors and promote financial stability.
It advised looking out for services before choosing a bank by comparing interest rates, fees, and charges, and how it keeps its bank records safe and updated.
Related: December triggers: Why we overspend, overeat, overcommit, get emo and how to re-center
Depositors can protect their hard-earned money by securing passbooks, ATM cards, and digital confirmations. They are also advised to regularly update their contact details and online account passwords to protect sensitive information.
Transactions, whether in-branch or online, should always be done with authorized personnel and on official digital channels only. PDIC reminded depositors to take note of this tip because fraud prevention begins with vigilance.
PDIC again reminded it provides deposit insurance in banks up to the maximum deposit insurance coverage of P1 million per depositor, per bank.
Finally, the agency warned about tempting offers, "Channel a Grinch-like caution with your bonus because if something seems too good to be true, it probably is."
While high interest rates may appear appealing, they often come with high risks, so it is better to play safe by dodging these offers.
RELATED: Fight inflation: Where to put your savings so they grow faster
