An interest-bearing peso checking account (IBCA) wherein deposits are made over-the-counter while withdrawals are made through the issuance of a check.
TARGET MARKET
INDIVIDUALS
INSTITUTIONAL
| FEATURES | INDIVIDUAL | INSTITUTIONAL |
|---|---|---|
| Minimum Initial Deposit | P10,000 | P20,000 (for private) P30,000 (for government) |
| Required Minimum Monthly ADB | P10,000 | P20,000 (for private) P30,000 (for government) |
| Required Daily Balance to Earn Interest | P10,000 | P20,000 (for private) P30,000 (for government) |
| Interest Rate (per annum) | 0.05% Effectivity Date: August 1, 2020 | 0.05% Effectivity Date: August 1, 2020 |
| Closing Fee Closing of account within one month from opening date | P30.00/month Effectivity Date: Dec. 1, 2017 | P30.00/month Effectivity Date: Dec. 1, 2017 |
| Service Charge for Account Falling Below the Required Monthly Average Daily Balance (ADB) Coverage - Accounts failing below ADB requirement for two (2) consecutive month-end and every month-end thereafter Collection - Monthly to start at the end of the 2nd month | P200/month | P200/month |
| Dormant Account Coverage - Accounts with no depositor-initiated transaction for two (2) years and failing below the required ADB Collection - Monthly to start on the 5th year reckoned from the date of last financial transaction. | P30.00/month Effectivity Date: April 24, 2017 | P30.00/month Effectivity Date: April 24, 2017 |
| PDIC Insurance | P500,000 (Maximum deposit insurance per depositor) | P500,000 (Maximum deposit insurance per depositor) |
| DOCUMENTATION | |
|---|---|
| Checkbook | Upon closure, all unused checks must be returned to the branch where the account is maintained. |
| NEW CHECKBOOK COST | |
|---|---|
| Type of Checkbook | Fee |
| Personal Checkbook (Booklet of 50 pcs.) | P300.00 |
| Commercial Checkbook (Booklet of 100 pcs.) | P600.00 |
| MDS Checkbook (Booklet of 100 pcs.) | P800.00 |
| Continuous Fom Check / Other Customized Checks | To be based on the approved arrangements and design per Memorandum of Agreement |
| OTHER FEES AND CHARGES | |
|---|---|
| Inter-branch Deposit/ Withdrawal/ Encashment (for inter-regional transactions only) | P10,000 and below = P50.00 Above P10,000 = P100.00 |
| Bank Certification on Deposit Balances (for all kinds of Bank Certification) | P200.00 |
| Bank Guarantee Against Deposit | P400.00 |
| Stop Payment Order (SPO) per check requested | P100Inter |
| Returned Check | P2,000/check |
| Penalty Charge for RCOCI for every P40,000 amount of check or a fraction thereof | P200 |
| Reprinting of Bank Statements* Private - transactions beyond two (2) months Government - transactions beyond one (1) year *reckoned from date of request | P20/page |
| Bank Statement's Holding Fee - requested bank statements not claimed/picked-up within one (1) month | P100 |
| BASIC REQUIREMENTS | |
| Individuals | 1. At least 2 valid IDs* 2. 1 x 1 ID picture 3. TIN Number must be presented * Valid IDs include SSS ID, GSIS ID, Driver’s License, Company ID (present), School ID, Passport, TIN ID, Postal ID, Phil Health ID, Marriage Contract (original copy), Major Credit Card, Membership Card of well-known associations and clubs, HMO ID, Senior Citizens Card. |
| Single Proprietorship | 1. Registration of Business name with Department of Trade and Industry 2. City/Municipal Mayor’s Permit 3. Application of Renewal of City/Municipal Mayor’s Permit/Old Registration 4. Two valid IDs of authorized signatory/ies |
| Partnership | 1.Articles of Partnership 2. Certification of Registration with Securities and Exchange Commission (SEC) 3. Duly notarized Agreement on the extent of authority of each partner4. Two valid IDs of authorized signatory/ies |
| Corporation | 1. Articles of Incorporation 2. Certificate of Registration with Securities and Exchange Commission 3. Corporate By-Laws 4. Duly notarized Board Resolution incorporating the following: • Authority to open bank account with LBP • Designated Officers authorized to deposit, withdraw, endorse or negotiate checks and other deal with the bank deposit and the nature and extent of such authority which should inform the By-Laws of said corporation • Notarized List of incumbent Officers, Board of Directors and Stockholders • Two valid IDs of authorized signatory/ies and Corporate Secretary • Certificate of filing of By-Laws with SECf. Certificate of registration with appropriate agency |
| Association or Organization | 1. Certificate of registration with appropriate agency 2. Constitution and By-Laws 3. Association Agreement 4. Duly notarized Board Resolution incorporating the following: • Authority to open bank account with LBP • Designated Officers authorized to sign and the nature and extent of such authority |
| Corporation in the Process of Incorporation | 1. Proposed Articles of Incorporation stating therein the name of Treasurer-in-Trust authorized to open an account with the Bank in behalf of the Corporation 2. Duly notarized Secretary’s Certificate 3. Duly notarized Treasurer’s Affidavit 4. Two valid IDs of authorized signatory/ies |
| Government Entities | 1. Charter and/or Law creating the government corporation/agency/office 2. Executive Order or Department Order creating the government agency 3. Duly notarized Board resolution incorporating the following: • Authority to open bank account with LBP • Designated Officers authorized to sign and the nature and extent of such authority |
| Cooperative | 1. Certificate of Registration with the Cooperative Development Authority 2. Articles of Cooperation and By-Laws 3. Duly notarized Board resolution incorporating the following: • Authority to open bank account with LANDBANK • Designated Officers authorized to sign and the nature and extent of such authority |
| CONTACT UNITS | |
|---|---|
| LANDBANK Branches Nationwide | |
| Customer Care Center | • NCR-8-405-7000 • Toll free for non-NCR- 1800-10-405-7000 |
As of Wed, December 2, 2020
| Buying | Selling | |
|---|---|---|
| JPY | 0.45 | 0.473 |
| EUR | 56.605 | 59.531 |
| GBP | 62.921 | 66.174 |
| HKD | 6.049 | 6.549 |
| USD | 47.85 | 48.35 |
As of Tue, December 1, 2020
| UITF | NAVPU |
|---|---|
| Money Market Fund | 1.169966 |
| Money Market Plus Fund | 1.09575 |
| Bond Fund | 1.800998 |
| Growth Fund | 2.399926 |
| Equity Fund | 0.885148 |
| Global $ Fund | 1.454617 |
I want to know more
Customer Care Hotline
(+632) 8-405-7000
PLDT Domestic Toll Free
1-800-10-405-7000
Email Address
customercare@mail.landbank.com
