• Landbank Savings Account

    Landbank is one of the most popular banks in Philippines. It offers products and services that are innovative and customisable. The savings accounts offered by Landbank are designed to meet the needs and requirements of the consumers. With these accounts, not only is your money safe, but also, you can earn substantial amount of interest on them.

    Types of Landbank Savings Accounts

    There are different types of savings accounts offered by Landbank. These accounts are listed below.

    • ATM Savings Account
    • Easy Savings Plus
    • High Yield Savings Account
    • Regular Passbook Savings Account
    • Chinese Yuan Savings Account
    • U.S. Dollar Savings Account

    Features and Fees of Landbank Savings Account

    There are different types of features and benefits offered by the Landbank Savings Accounts.

    ATM Savings Account

    • The initial deposit amount must be Php 500.
    • The required ADB is Php 500.
    • In order to earn interest, you must have a daily balance of Php 500.
    • The rate of interest that you can earn is 0.250 percent per annum.
    • The maximum amount that you can withdraw per day is Php 50,000.
    • Maximum EPS transaction that you one can do per day is Php 100,000.

    Easy Savings Plus

    • The minimum deposit must be at least Php 20,000.
    • The interest rates depend on the prevalent market rates.

    High Yield Savings Account

    • The minimum deposit must be at least Php 1,000,000.
    • The rate of interest depends on the weekly rates. It varies based on the amount and term.

    Regular Passbook Savings Account

    Individual

    • The minimum initial deposit is Php 10,000
    • The monthly ADB should be a minimum of Php 10,000
    • The daily balance that is required for earning interest is Php 10,000
    • The interest rate that you can earn on your savings is 0.25 percent per annum
    • You will have to pay a fee of Php 200 for falling below minimum ABD
    • The account closing fee is Php 200
    • The dormancy fee is Php 200 per month
    • Fee for damaged card or replacement card is Php 200

    Institutional

    • The minimum initial deposit is Php 10,000
    • The monthly ADB should be a minimum of Php 10,000
    • The daily balance that is required for earning interest is Php 10,000
    • The interest rate that you can earn on your savings is 0.25 percent per annum
    • You will have to pay a fee of Php 200 for falling below minimum ABD
    • The account closing fee is Php 200
    • The dormancy fee is Php 200 per month
    • Fee for damaged card or replacement card is Php 200

    Chinese Yuan Savings Account

    • The initial deposit should be a minimum of CNY 2,500
    • The monthly ADB requirement is CNY 2,500
    • Minimum balance that must be maintained to earn interest is CNY 2,500
    • The rate of interest is 0.10 percent per annum

    U.S. Dollar Savings Account

    Individual

    • The initial deposit must be at least USD 100
    • The ABD required is USD 500
    • ADB to be maintained in order to earn interest is USD 500
    • The rate of interest that you can earn is 0.15 percent per annum

    Institutional

    • The initial deposit must be at least USD 1,000
    • The ABD required is USD 1,000
    • ADB to be maintained in order to earn interest is USD 1,000
    • The rate of interest that you can earn is 0.15 percent per annum

    Documentation

    The following documents must be carried by the applicants.

    ATM Savings Account

    Joint account / Individual account

    • Two valid identification proofs are required
    • One picture
    • TIN number should be presented

    Single Proprietorship

    • Registration of the business name with Trade Department
    • Original Application for the registration
    • 2 valid identification proofs of authorized signatories

    Easy Savings Plus

    • Two valid identification proofs are required
    • One picture
    • TIN number should be presented

    Single Proprietorship

    • Registration of the business name with Trade Department
    • Original Application for the registration
    • Municipal / City Mayor’s Permit
    • 2 valid identification proofs of authorized signatories

    High Yield Savings Account

    Corporation

    • Board Resolution including different things like –
    • Corporate By-Laws
    • Registration certificate with Exchange Commission and Securities
    • Incorporation Articles
      1. Permission to open a bank account with LBP
      2. Specific officers who are authorized to withdraw, deposit, negotiate and endorse checks
      3. Notarized list including Stockholders, Board of Directors and incumbent officers
      4. Two valid identification proofs of Corporate Secretary and authorized signatories.
      5. By-Laws filing certificate with SEC is required
      6. Appropriate agency registration certificate is required

    Association or Organisation

    • Board Resolution including different things like –
    • By-Laws and Constitution
    • Appropriate agency registration certificate is required
      1. Permission to open a bank account with LBP
      2. Authorized officers for signing and extent and nature of such authority

    Corporation in Process of Incorporation

    • Incorporation articles that are proposed stating Treasurer-in-Trust’s name for opening an account with Bank on behalf of Corporation
    • Notarized certificate from the Secretary
    • Notarized affidavit from Treasurer
    • 2 valid identification proofs of authorized signatories

    Government Entities

    • Board Resolution including different things like –
    • Department Order or Executive Order creating government agency
    • Law or Charter making the Government agency / corporation / office
      1. Permission to open a bank account with LBP
      2. Authorized officers for signing and extent and nature of such authority

    Cooperatives

    • Board Resolution including different things like –
    • By-Laws and Cooperation Articles
    • Registration certificate with Cooperative Development authority
      1. Permission to open a bank account with LBP
      2. Authorized officers for signing and extent and nature of such authority

    Regular Passbook Savings Account

    Local

    • One original photo identity proof
    • 2 identification photos to be attached on LOCIS / CISSC and SSC.
    • Child’s birth certificate if parents are opening account for their child

    Foreigner

    • Passport is required
    • Diplomatic ID card / ACR issued by DFA stating current work status

    Single Proprietorship

    • Permit from Municipal or City Mayor
    • Registration certificate with DTI

    Partnership

    • Partnership articles
    • Registration certificate with Exchange Commission and Securities
    • Notarized resolution or agreement defining extent of authority of every partner

    Chinese Yuan Savings Account

    Individuals

    • Two valid identification proofs are required
    • One ID picture is required

    Single Proprietorship

    • Municipal or City Mayor’s Permit
    • 2 identification proofs of authorized signatories
    • Business Registration with Trade and Industry Department

    Corporation

    • Incorporation Articles
    • Corporate By-Laws
    • Registration certificate with Exchange Commission and Securities

    U.S. Dollar Savings Account

    Individuals

    • Two valid identification proofs
    • One ID picture

    Single Proprietorship

    • Municipal or City Mayor’s Permit
    • 2 identification proofs of authorized signatories
    • Business Registration with Trade and Industry Department

    Corporation

    • Incorporation Articles
    • Corporate By-Laws
    • Registration certificate with Exchange Commission and Securities
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