LANDBANK | High-Yield Savings Account

High-Yield Savings Account

High-Yield Savings Account (HYSA) is a special deposit account with minimum placement of P1 Million and minimum term of thirty (30) days.


Minimum Placement	₱1,000,000
Minimum Term	30 days
Interest Rate (per annum)	Based on LANDBANK’s posted rates, terms and amount
Pre-termination rate / penalty	Interest rate shall be pro-rated: • 15 days and below = ¼ of the given rate or prevailing savings rate, whichever is higher • more than 15 days = ½ of the given rate or prevailing savings rate, whichever is higher
Docmentary Stamp Tax (DST)	• Charge to Bank upon initial placement and every renewal • Charge to depositor if pre-terminated


Interest Computation	Based on: a. Face value b. Term
Manner of Interest Payment	Upon maturity
Formula	Interest due: Face Value x Interest Rate x Term / 360
Withholding Tax	Peso Account: 20% withholding tax on interest shall be withheld.

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As of Tue, December 3, 2024

As of Mon, December 2, 2024