High-Yield Savings Account (HYSA)

High Yield Savings Account (HYSA) is a peso account wherein funds of a specific amount are given pre-determined competitive rates for a fixed term. Passbook also serves as a proof of deposit. HYSA account is offered to institutional clients only.

TARGET MARKET

  • Government line and attached agencies
  • Government-Owned and-Controlled Corporations (GOCCs)
  • Government Financial Institutions (GFIs)
  • Local Government Units (LGUs)
  • Private Institutions

FEATURES

Minimum Initial Deposit

P1,000,000

Term

Minimum of 30 days and Maximum of 360 days

Interest Rate (per annum)

Based on weekly posted rates; varies depending on term and amount.

Pre – Termination Rate/Penalty

Interest rate shall be pro-rated:

·         15 days and below = 1/4 of the given rate or  prevailing savings rate, whichever is higher

 

·         more than 15 days = 1/2 of the given rate or prevailing savings rate, whichever is higher

Documentation

HYSA Passbook

Replacement Fee for Lost/Damaged Passbook

P200

Documentary Stamp Tax (DST)

·         To be shouldered by the bank

·          If pre-terminated, the depositor is required to

 pay DST

CONTACT UNITS

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

BASIC REQUIREMENTS

Corporation 

  1. Articles of Incorporation and By-Laws
  2. Certificate of Registration with Securities and Exchange Commission

    Note:
  • For those not supervised by SEC, a certificate of registration issued by the appropriate supervising agency shall be submitted.
  1. Latest General Information Sheet which lists the names of directors/ trustees/principal stockholders owning at least twenty percent (20%) of the outstanding capital stock and primary officers such as the President and Treasurer
  2. Notarized Certificate of Corporate Secretary attesting to the issuance of a Board Resolution authorizing the following:
    1. To open an account with LANDBANK
    2. Designating the officers authorized to deposit, withdraw, endorse or negotiate checks and otherwise deal with the Bank deposit and the nature and extent of such authority, which shall conform with the By-Laws of said Corporation

      Note: Conformity of the Board Resolution to the By-Law shall be checked by the OA.
       
    3. Certifying that the resolution remains effective and has not been amended, revoked or superseded
       
  3. Certificate of registration with appropriate government agency in special cases, such as the DOLE for labor unions
  • Corporation in the process of incorporation
  1. Proposed Articles of  Incorporation stating therein the name of  “Treasurer-in-Trust-For”  authorized to open an account with LANDBANK in behalf of the corporation
  2. Duly notarized Secretary’s Certificate designating the “Treasurer-in-Trust For"
  • For Foreign Corporations, all of the following:
  1. Articles of Incorporation and By-Laws
  2. Resolution of the foreign corporation’s BODs or members authorizing the opening of a deposit account
  3. Power of attorney of the corporation or its authorized signatory/ies  designating and empowering his resident agent/s or authorized representative/s to the Philippines
  4. License to do business in the Philippines duly issued by SEC, if the foreign corporation is doing business in the Philippines
  • Note: Items 1 & 2 shall be duly authenticated before a Consular Office of the Philippines and all documents written in a foreign language shall be translated in English.
  • For Joint Ventures/Consortiums, all of the following:
  1. Joint Venture Agreement
  2. Articles of Incorporation and By-Laws of the corporations involved in the joint venture
  3. If one of the corporations involved is a foreign corporation, necessary documents for opening of accounts for foreign corporation shall be followed/observed

Association/Organization and Government Units 

  • For Association or Organization, all of the following:
  1. Certificate of Registration with appropriate government agency
  2. Constitution and By-Laws
  3. Duly notarized Board Resolution containing the following:
    1. Authority to open an account with LANDBANK
    2. Officers authorized to sign and the nature and extent of such authority
    3. Certification that the resolution remains effective and subsisting and has not been amended, revoked or superseded
  • For Cooperative, all of the following:
  1. Certificate of Registration with the Cooperative Development Authority
  2. Constitution and By-Laws
  3. Duly notarized Board Resolution containing the following:
    1. Authority to open an account with LANDBANK
    2. Officers authorized to sign and the nature and extent of such authority
    3. Certification that the resolution remains effective and subsisting and has not been amended, revoked or superseded
  • For GLA, all of the following:
  1. Charter and/or law creating the government corporation/office/agency or E.O./Department Order creating the government entity
  2. Duly notarized Board Resolution/LOA from Head of Agency incorporating the following:
    1. Authority to open an account with LANDBANK
    2. Officers authorized to sign and the nature and extent of such authority
    3. Certification that the resolution remains effective and subsisting and has not been amended, revoked or superseded
  3. Resolution conforming with the Charter or law creating the government corporation/office/agency or the E.O. creating the government entity
  • For LGU, all of the following:
  1. Duly notarized Resolution issued by the Sanggunian of LGU concerned incorporating the following:
    1. Authority to open an account with LANDBANK
    2. Officers authorized to sign and the nature and extent of such authority
    3. Certification that such resolution remains effective and subsisting and has not been amended, revoked or superseded
  2. In case of a temporary or permanent vacancy in the Office of the LGU Chief Executive or Local Treasurer, the following shall be required:
    1. A new Sanggunian Resolution when the previous Sanggunian Resolution specifically indicates the name of the Local Chief Executive or Local Treasurer
    2. If the general term “Chief Executive” and “Local Treasurer” of LGU was used in the Sanggunian Resolution in the opening of account, a certification from the DILG and BLGF on the assumption of the successor, respectively, shall be sufficient.
    3. If there is a conflict on the assumption to a position and a Sanggunian Resolution cannot be secured, certification from the DILG on the assumption on the successor shall be required while, for the new treasurer, a certification from the BLGF.
  3. As a rule, Charter and/or law creating the LGU shall not be required but the Branch may opt to require said documents.
  • For Barangay, all of the following:
  1. Barangay Council Resolution stating its authorized signatories
  2. List of Officers
  3. Officers’ Oath of Office
  4. In case of a temporary or permanent vacancy occurs, the following shall be required:
  1. A new Barangay Resolution when the previous Barangay Resolution specifically indicates the name of the Local Chief Executive

    If the general term “Barangay Chairperson” of LGU was used in the Barangay Resolution in the opening of account, a certification from the DILG on the assumption of the successor shall be sufficient.
     
  2. If there is a conflict on the assumption to a position and a Barangay Resolution cannot be secured, a certification from the DILG on the assumption of the successor shall be required.
  • For Unincorporated Units of the Government (i.e., for accounts opened for Public Officials for funds held in their official capacity) 
  1. Letter of intent to open a deposit account with the bank by the public official 
  2. Duly Notarized SPA, in case a public official designates signatory/ies to the account or appoints representative/s to transact with the Bank in his behalf 
  3. Valid photo-bearing ID and ID picture of the public official and representative