• Landbank Savings Account

    When you open a savings account, you are helping yourself become financially independent. You can access the funds at any time. You can accumulate funds for times of emergencies and you can also start saving for future investments. You get attractive interest rates. LANDBANK also lets you open a foreign currency savings account.

    Features and Benefits

    The following are the various features and benefits of Landbank Savings Account:

    • The account can be monitored through passbook.
    • The interest is auto compounded.
    • You can open foreign currency accounts.
    • You get attractive interest rates.
    • Your deposits are insured under PDIC. You get insurance up to P500,000.
    • The transactions can be made over-the-counter.
    • Cashless purchases can be made through point-of-sale terminals.

    Types of Landbank Savings Account

    The following are the various types of Savings Account offered by LANDBANK:

    1. ATM Savings Account

      This is an interest-bearing savings account. You can deposit through Cash Deposit Machines and over-the-counter. The withdrawals can be done at any Bancnet ATMs and over-the-counter. You can make cashless purchases at point-of-sale terminals. This account issues an ATM card to the cardholder. The ATM card will be issued 3 days after opening the account.

      Minimum initial deposit P500
      Require minimum monthly average daily balance P500
      Daily average balance required to earn interest P500
      Maximum ATM withdrawal per day P50,000
      Point-of-sale cashless payments per day P50,000
    2. Easy Savings Plus

      This is a premium savings account. The interest rates offered are higher than the regular savings account. The interest rates are tiered and are based on the average daily balance levels.

      Minimum initial deposit P20,000
      Require minimum monthly average daily balance P20,000
      Daily average balance required to earn interest P20,000
    3. High-Yield Savings Account

      This is a Peso savings account where the funds of a specific amount will have pre-determined rates for a fixed term. The passbook serves as a proof of the deposits made. This account is meant for institutional clients only.

      Minimum initial deposit P1,000,000
      Term

      Minimum – 30 days

      Maximum – 360 days

    4. Regular Passbook Savings Account

      This is an interest-bearing account that is offered to individuals and institutions. The passbook has to be presented for withdrawal and deposit transactions.

      Minimum initial deposit

      Individual – P10,000

      Institutional – P10,000

      Require minimum monthly average daily balance

      Individual – P10,000

      Institutional – P10,000

      Daily average balance required to earn interest

      Individual – P10,000

      Institutional – P10,000

    5. US Dollar Savings Account

      This is an interest-bearing account and you will have to present your passbook for making withdrawals and deposits.

      Minimum initial deposit Individual – USD100 Institutional – USD1,000
      Require minimum monthly average daily balance

      Individual – USD500

      Institutional – USD1,000

      Daily average balance required to earn interest

      Individual – USD500

      Institutional – USD1,000

    6. Renminbi Savings Account

      This is a third currency deposit account. You are required to present your passbook for making deposits and withdrawals.

      Minimum initial deposit CNY2,500
      Require minimum monthly average daily balance CNY2,500
      Daily average balance required to earn interest CNY2,500
      Minimum holding period 15 days from the date of deposit
      Notice of withdrawal 5 banking days

    Landbank Savings Account Eligibility Requirements

    The LANDBANK savings account can be opened by:

    • Applicant must be at least 7 years old.
    • Applicant must not be suffering from a legal disability.
    • Applicant must be able to read and write.
    • Resident.
    • Individual.
    • Court-appointed Fiduciary.
    • Resident foreigners.
    • Single proprietor.
    • High-Yield Savings Account - Institutional:
      • Private Institutions.
      • Local Government Units.
      • Government Financial Institutions.
      • Government Owned and Controlled Corporations.
      • Government line and attached agencies.
    • Regular Passbook Savings Account - Institutional:
      • Private corporations, partnerships, cooperatives, associations, and other registered organizations.
      • Government Owned and Controlled Corporations.
      • Government line agencies.
      • Local Government Units.
    • US Dollar Savings Account - Institutional:
      • Government line agencies.
      • Government Owned and Controlled Corporations.
      • Local Government Units.
      • Private corporations, partnerships, cooperatives, associations, and other registered organizations.  

    Documents Required for Landbank Savings Account

    You will have to submit the following documents:

    • Local individual:
      • Proof of identification such as utility bills or credit card bills.
      • Identifying documents to be signed by the customer.
      • SSC to be signed by the endorsing officer of the Bank.
      • 2 recent ID photos.
      • Students who are beneficiaries and not of voting age must present original school ID.
      • Birth certificate of the child if the parents are opening an account on behalf of their child.
    • Foreigner:
      • ACR Card.
      • Passport.
    • Court-appointed Fiduciary:
      • Original Copy of Court Order that contains the Fiduciary’s appointment.
      • Original Copy of Court Order that authorizes the Fiduciary to open a deposit account.
      • The bank will retain a photocopy of the Court Order that is authenticated by the NAC.
    • Single proprietorship:
      • City or Municipal Mayor’s Permit.
      • Certificate of Registration with the DTI.
    • Partnership:
      • Certificate of Registration with SEC.
      • Articles of Partnership.
      • Notarized agreement designating the extent of the authority of each partner in dealing with the bank.
    • Corporations:
      • Articles of Incorporation and By-Laws.
      • Certificate of registration with the appropriate government agency.
      • Certificate of Registration with SEC.
      • Latest General Information Sheet.
      • Notarized Certificate of Corporate Secretary attesting to the issuance of a Board Resolution that authorizes to open an account and designating officers to deposit, endorse, withdraw, etc.
    • Corporation in the process of incorporation:
      • Duly notarized Secretary’s Certificate that designates the “Treasurer-in-Trust For".
      • Proposed Articles of Incorporation.
    • Foreign Corporations:
      • Articles of Incorporation and By-Laws.
      • License to do business in the Philippines that is issued by SEC.
      • Power of attorney of the corporation.
      • Resolution of the foreign corporation’s BODs.
    • Joint Ventures:
      • Articles of Incorporation and By-Laws of the corporations involved.
      • Joint Venture Agreement.
      • Necessary documents for opening of accounts for a foreign corporation to be submitted if one of the corporations involved is a foreign corporation.
    • Association or Organization:
      • Duly notarized Board Resolution that contains the authority to open an account, officers authorized, and certification that the resolution has not been amended.
      • Constitution and By-Laws.
      • Certificate of Registration.
    • Cooperative:
      • Certificate of Registration.
      • Constitution and By-Laws.
    • GLA:
      • Charter and/or law creating the government corporation.
      • Duly notarized Board Resolution.
      • Resolution conforming to the Charter or law.
    • LGU:
      • Duly notarized Resolution issued by the Sanggunian of LGU.
      • In the case of a temporary or permanent vacancy in the Office of the LGU Chief Executive or Local Treasurer, you will have to submit the following:
      • A certification from the DILG and BLGF.
      • A new Sanggunian Resolution.
    • Barangay:
      • Barangay Council Resolution.
      • List of Officers.
      • Officers’ Oath of Office.
    • Unincorporated Units of the Government:
      • Duly Notarized SPA.
      • Letter of intent to open a deposit account.
      • Valid photo-bearing ID and also the ID picture of the public official and representative.

    Landbank Savings Account Interest Rates

    Following are the interest rates offered for the various Savings Account:

    ATM Savings Account 0.25% p.a.
    Easy Savings Plus It is based on the market rates.
    High-Yield Savings Account It is based on the weekly posted rates and it varies based on the amount and term.
    Regular Passbook Savings Account 0.25% p.a.
    US Dollar Savings Account 0.15% p.a.
    Renminbi Savings Account 0.10% p.a.

    Fees and Charges

    The following are the applicable fees and charges:

    Fee for falling below the required monthly average daily balance

    P200 per month

    Dollar – USD5 per month

    Renminbi – CNY50

    Closing fee

    P200

    Dollar account – USD5

    Renminbi – CNY50

    Replacement fee for ATM card P100
    Dormancy fee

    P30 per month

    Dollar – USD0.50 per month

    Renminbi – CNY50 per month

    Replacement fee for debit card P150
    Replacement fee for e-Card P250
    Service fee in excess of 2 withdrawals per month P100 per withdrawal
    Replacement fee for passbook that is lost or damaged P200
    Pre-termination rate

    Below 15 days – 1/4th of the given rate

    More than 15 days – ½ of the given rate

    Closing fee is charged if the account is closed within 30 days from the opening date. Dormancy fee is charged if there is no deposit or withdrawal for 2 years and if the balance falls below the average daily balance requirement.

    How to apply for Landbank Savings Account?

    You can apply for a LANDBANK Savings Account through the following ways:

    • Phone: You can call ++631-405-7000 or 1-800-10-405-7000 to know more about the account and find out the process to apply and initiate it.
    • You can enter your details on the LANDBANK website and leave a message, the bank representative will give you a callback and guide you through the application process.
    • Face-to-face: You can find the closest LANDBANK branch on the LANDBANK website and visit the branch where you can meet with the bank representative and learn more about the account before applying for it.

    Landbank Savings Account Hotline Number

    You can reach LANDBANK at +631-405-7000 or 1-800-10-405-7000. You can also send an email to customercare@mail.Landbank.com.

    Landbank Savings Account FAQs

    1. Can I open a foreign currency savings account?

      Yes, you can open a US Dollar or Renminbi savings account with LANDBANK.

    2. What is the interest offered on the savings account by LANDBANK?

      LANDBANK offers interest up to 0.25% p.a. The interest for some accounts are tiered and is based on the market rates and the average daily balance levels.

    3. How can I make withdrawals from my savings account?

      You can use the passbook to make withdrawals or you can go to any Bancnet ATMs to make the withdrawals.

    4. How long will it take for the ATM card to be issued?

      The ATM card will be issued 3 days after opening the account.

    5. Can I make cashless purchases?

      Yes, you can use the ATM card to make cashless purchases at point-of-sale terminals. 

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