Easy Savings Plus (ESP)

A premium savings account which offers higher interest rates than a regular savings account and are tiered based on ADB levels.

TARGET MARKET

Individuals

  • At least seven (7) years of age
  • Able to read and write
  • Not suffering from any legal disability
  • With credible identification

FEATURES

Minimum Initial Deposit

P20,000

Interest Rate (per annum)

Based on market rates (tiered rates based on daily balance)

Required Minimum Monthly ADB

P20,000

Required Daily Balance to Earn Interest

P20,000

Fee for Falling Below the Required Monthly ADB

P200/month

Closing Fee1

P200

Documentary Stamp Tax (DST)

·  To be shouldered by the bank.

·   If pre-terminated, the depositor is  

   required to pay DST.

Dormancy Fee2

P30.00/month

Effectivity Date: April 24, 2017

Allowed Number of Withdrawals per month

Two (2)

Service Fee in Excess of Two (2)

  Withdrawals per Month

P100/withdrawal

Documentation

Passbook

Replacement Fee for Lost/Damaged Passbook

P200

1 If closed within 30 calendar days from opening date.

2 Accounts with no deposit/withdrawal transaction for two (2) years and falling below the required ADB.

CONTACT UNITS

  1. LANDBANK Branches Nationwide
  2. Customer Care Center
    • NCR-405-7000
    • Toll free for non-NCR- 1800-10-405-7000

BASIC REQUIREMENTS

Individual

  • Local
  1. Presentation of at least one (1) original valid photo-bearing ID
Notes:  
  1. When necessary, branches shall require secondary proof of identification (e.g., billing statement of utilities or major credit cards in the name of the customer).
  2. Identifying documents shall be signed by the customer.
  3. SSC of referred customer shall be signed by the endorsing officer/employee of the Bank or valued customer.
  4. The BH/BOO/BSO[1] who shall approve the opening of the deposit account may, at his discretion, confirm the same with the referring officer/employee or valued depositor of the Bank.  
  1. Two (2) recent ID photos (to be attached to CISSC/LOCIS and SSC)
  2. Students who are beneficiaries of remittances/fund transfers and are not yet of voting age may be allowed to present the original school ID duly signed by the Principal or head of the school and submit a clear photocopy of the same.
  3. Whenever necessary, the Branch may accept other IDs, provided that it shall not be the sole means of identification.
  4. In case the identification documents mentioned above or other identification documents acceptable to the Bank do not bear any photo of the customer or authorized signatory, or the photo-bearing ID or a photocopy thereof does not clearly show the face of the customer or authorized signatory, the Branch may utilize own technology to take the photo of the customer or authorized signatory
  5. Birth certificate of the child in case of parents opening an account in behalf of their child
Notes:
  1. The Branch shall retain a photocopy of the same duly authenticated by the NAC
  2. The parent(s) shall still be identified in accordance with the requirements
 
  • Foreigner, all of the following:
  1. Passport
  2. ACR/Diplomatic Identification Card issued by the DFA specifying status i.e., working, business, student or non-resident
Note:
  • Foreign national whose working permit is under process shall be required to submit Certificate of Employment.
  • Court-appointed Fiduciary (Guardian, Administrator, Trustee or Receiver), all of the following:
  1. Original Copy of Court Order containing the Fiduciary’s appointment
  2. Original Copy of Court Order authorizing the Fiduciary to open a deposit account with LANDBANK

Note:

  • The Branch shall retain a photocopy of the Court Order duly authenticated by the NAC.
Single Proprietorship
  1. Certificate of Registration with the DTI
  2. City/Municipal Mayor’s Permit