Peso E.A.S.Y. (Earning Access & Sure Yield) Check

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

  • Existing depositors of good standing
  • New depositors with referral from LANDBANK officers or from known and valued clients of the Bank

Institutional

Reputable private corporations, cooperatives, partnerships and associations

FEATURES

INDIVIDUAL

INSTITUTIONAL

Minimum Initial Deposit

P10,000

P20,000

Required Minimum Monthly ADB

P10,000

P20,000

Required Daily Balance to Earn Interest 

P10,000

P20,000

Interest Rate (per annum)

0.10%

Effectivity Date: August 7, 2017

0.10%

Effectivity Date: August 7, 2017

Fee for Falling Below the Required Monthly ADB

P200/month

P200/month

Closing Fee1

P200

P200

Dormancy Fee2

P30.00/month

Effectivity Date: April 24, 2017

P30.00/month

Effectivity Date: April 24, 2017

Documentation3

Checkbook

Checkbook

Maximum Number of Check Issuances

No limit

No limit

1 If closed within 30 calendar days from opening date.
2 Accounts with no deposit/withdrawal transaction for one (1) year and falling below the required ADB.
3 Upon closure, all  unused checks will be returned to the branch where account is maintained.

OTHER FEES AND CHARGES

Stop Payment Order (SPO) per check requested

P100

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:

    1. Authority to open bank account with LBP

    2. 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

    3. Notarized List of incumbent Officers, Board of Directors and Stockholders

    4. Two valid IDs of authorized signatory/ies and Corporate Secretary

    5. 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:

    1. Authority to open bank account with LBP

    2. 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:

    1. Authority to open bank account with LBP

    2. 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:

    1. Authority to open bank account with LANDBANK

    2. Designated Officers authorized to sign and the nature and extent of such authority


CONTACT UNITS

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