Maximize your savings with optimal interest rates! Save more, earn more with tiered interest rates up to 4% based on average daily balance.
● Open through the LANDBANK Mobile Banking Application (MBA) or a LANDBANK Branch
● Two accounts options (LANDBANK Visa Cardless or Passbook Account)
● Convenient monitoring through the LANDBANK MBA
● Tiered interest rates from 0.05% to 4.00%
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| Minimum Deposit | P50,000 | |
| Required minimum balance to earn interest | P50,000 | |
| Minimum term | None | |
| Allowed number of deposits and withdrawals/fund transfer per month | Unlimited | |
| Interest Computation | Daily | |
| Withholding tax | 20% | |
| Deposit Instrument | LANDBANK Visa Cardless account or OptiSaver Passbook | |
| PDIC Insurance | P500,000.00 | |
| Interest Rates | Regular interest rate: 0.05% : P50,000.00 - P499,999.99 Tiered interest rate based on average daily balance (ADB) 1.00% : P500,000.00 - P999,999.99 2.00% : P1,000,000.00 - P2,999,999.99 2.50% : P3,000,000.00 - P4,999,999.99 3.00% : P5,000,000.00 - P6,999,999.99 3.50% : P7,000,000.00 - P8,999,999.99 3.75% : P9,000,000.00 - P9,999,999.99 4.00% : P10,000,000.00 and up |
| Service Fee in excess of two (2) withdrawals per month for over-the-counter transactions | P200.00 per withdrawal, automatically deducted by the system from deposit account at the end of the month. | |
| Service Fee for Falling Below Minimum ADB | P200.00/month | |
| Dormancy Fee | P30.00/month | |
| Service Fee if closed within 30 calendar days from date of opening | P300.00 | |
| Documentary Stamp Tax | None | |
| Replacement Fee for lost/damaged passbook or conversion of account | P200.00 |
| Usage Channels | As source and destination account for fund transfer and crediting channels. Viewing of the following through MBA: ● Current Account Balance ● Transaction History | |
| Over-the-counter transactions | Applicable based on existing procedure, even within ATM withdrawal limit. | |
| Automatic Closure | 90 days zero balance |
* subject to cardless transaction processing rules
** Interbank through InstaPay and PESONet, VISA direct money transfer, LANDBANK Remittance Syste (LBRS), weAccess
and eMDS.
| Interest | To be accrued daily and shall be credited to the account at the end of every month. Interest due for one (1) day shall be computed as: Daily Balance x Daily Interest Factor The interest earned on this deposit shall be subject to the prevailing withholding tax rate. | |
| Deposits | Can be made through the following modes: ● Over-the-counter by the depositor or through authorized representatives ● For LANDBANK Visa Cardless account via Cash Deposit Machine ● Fund transfer via ATM or the LANDBANK Mobile Banking Application ● Interbank Fund Transfer | |
| Withdrawals | For passbook accounts: must be made by the depositor personally or by an authorized representative For LANDBANK Visa Cardless: can be performed through the MBA (fund transfer or bills payment), cardless withdrawal via LANDBANK ATMs, and over the counter. | |
| Dormancy | Follows existing procedure on the closure of a regular and internet banking account. | |
| Account Closure | Follows existing procedures on the closure of a regular and internet banking account. For accounts closed within 30 calendar days from the date of opening, service fees applies. |
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