Steps on How To Apply for Landbank Time Deposit
LANDBANK TIME DEPOSIT – Here are the steps on how to apply for the Regular Peso Time Deposit offered by Land Bank of the Philippines.
In the Philippines, the government bank which handles the accounts related to government works and agencies is the Land Bank of the Philippines. It has a lot of offer to the public.
You may apply for Landbank Savings Account, Landbank Credit Card, and Landbank Cash Card. You may also apply for loans like the Landbank Home Loan.
Aside from the aforementioned offers, the government bank has another excellent offer to the public – the Landbank Time Deposit or Regular Peso Time Deposit.
Under the Landbank Time Deposit, your money is locked-in safe and it earns interest. The term should not fall below 30 days and with a maximum of 360 days.
Usually, companies would go for locked-in safekeeping of their money which will yet to be used.
Are you interested in applying for Landbank Time Deposit? Here are the simple steps that you may follow:
Step 1 – Check for your eligibility to the Regular Peso Time Deposit offered by Land Bank of the Philippines.
Individuals
- At least seven (7) years of age
- Able to read and write
- Not suffering from any legal disability
- With credible identification
Institutional
- Government Line Agencies, Government-Owned and -Controlled Corporations (GOCCs), and Local Government Units (LGUs)
- Private corporations, cooperatives, partnerships, associations and other duly registered organizations
Step 2 – Prepare the requirements that you will need in applying for the Time Deposit. To see the full list of requirements, visit – Time Deposit Requirements.
Step 3 – With your requirements, visit the nearest branch of Land Bank of the Philippines. Inform the bank staff that you are opening a Regular Peso Time Deposit.
Step 4 – Provide the necessary information asked in the application forms for Regular Peso Time Deposit. Once you are finished filling in the form, submit it to the bank officer together with your requirements.
Step 5 – The bank officer will evaluate and check your application form and the requirements you have.
Once there is no problem with your form and requirements, you will be asked to deposit the amount which may be on another teller depending on the flow observed by the Landbank branch where you will make your application.
According to the government bank, the minimum placement should not fall below Php 1,000.00. The interest rate for your money will be based upon the market rates and as well as its amount and the terms.
We’re pleased to have helped you on your inquiry regarding the process in applying for Landbank Time Deposit. Thank you for visiting us. Rest assured we’ll continue to post informative updates.