Introduction
LANDBANK presents an unparalleled financial solution with its Regular Current Account, a non-interest bearing peso account also known as Checking or Demand Deposit Account. Designed to cater to both individuals and institutions, this account offers a range of features and benefits that set it apart from the rest.
Target Market
Individuals
- Existing Depositors of Good Standing: Elevate your banking experience if you are already a LANDBANK depositor with a history of financial responsibility.
- New Depositors with Referral: Enjoy seamless account opening with a referral from LANDBANK officers or known and valued clients of the bank.
Institutional
- Government Line Agencies, GOCCs, and LGUs: Empower your institution's financial management with LANDBANK's tailored solutions.
- Reputable Private Entities: Ideal for private corporations, cooperatives, partnerships, and associations.
Features
Individual
- Minimum Initial Deposit: Start your journey with just ₱5,000.
- Required Minimum ADB: Maintain a balance of ₱5,000 for uninterrupted services.
- Service Charge Below Minimum ADB: ₱200 for accounts falling below the required balance.
Institutional
- Minimum Initial Deposit: ₱10,000 for institutional accounts.
- Required Minimum ADB: Ensure a balance of ₱10,000 for continued benefits.
- Service Charge Below Minimum ADB: ₱200 for institutional accounts falling below the required balance.
Fees
- Closing Fee: ₱300 if closed within 30 calendar days from the opening date.
- Dormancy Fee: ₱30/month for accounts with no depositor-initiated transactions for one year and falling below the required ADB.
- Documentation Fee: ₱500,000 maximum deposit insurance per depositor.
Checkbook Options
- Personal Checkbook: ₱350 (Booklet of 50 pcs.)
- Commercial Checkbook: ₱600 (Booklet of 100 pcs.)
- MDS Checkbook: ₱800 (Booklet of 100 pcs.)
- Continuous Form Check/Other Customized Checks: Based on approved arrangements and design.
Other Transaction Fees
- Stop Payment Order (SPO) per Check Requested: ₱100
- Returned Check: ₱2,000/check
- Penalty Charge for RCOCI: ₱200/day for every ₱40,000 amount of check or a fraction thereof.
Basic Requirements
Individuals
- Two valid IDs such as PhilID, New SSS/GSIS ID, Driver's License, etc.
- Two copies of the most recent 1 x 1 ID picture.
- Tax Identification Number.
Institutional
Requirements vary based on the entity type, including Single Proprietorship, Partnership, Corporation, Association or Organization, Corporation in the Process of Incorporation, Government Entities, and Cooperatives.
Foreign Exchange Rates
As of Thu, November 16, 2023:
- Buying: JPY 0.361845, EUR 59.42111, GBP 68.030325, HKD 7.015274, USD 55.55
- Selling: JPY 0.375871, EUR 61.726464, GBP 70.66969, HKD 7.538725, USD 56.05
Unit Investment Trust Funds
As of Wed, November 15, 2023:
- Explore diverse UITF options with competitive NAVPU rates across Cash Management, Money Market, Bond, Balanced, Growth, and Equity Funds.
Interest Rates
- Deposits Insured by PDIC: Up to ₱500,000 per depositor.
Conclusion
In conclusion, LANDBANK's Regular Current Account stands as a pinnacle in financial management, offering a suite of features, competitive fees, and tailored solutions for both individuals and institutions. Whether you're an existing depositor or a new client, unlock the benefits of seamless transactions and financial empowerment with LANDBANK.
