List of Landbank Time Deposit Requirements
LANDBANK TIME DEPOSIT REQUIREMENTS – Here are the lists of the requirements needed in applying for Land Bank of the Philippines’ Regular Peso Time Deposit.
One of the offers of Land Bank of the Philippines is the Regular Peso Time Deposit. Under this, money deposited for locked-in terms not less than 30 days earns interest.
Usually, it is the companies that are applying for Time Deposit in banks. It is for the purpose of making the money grow while keeping it safe. With Landbank, the interest rate is based on market rates, the amount deposited, and the terms.
Meanwhile, this is not only open for institutional or company applications but as well as for individual application. The following are the Landbank Time Deposit requirements for eligibility:
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
With regards to the basic Landbank Time Deposit requirements, it may depend on the status of the applicant – if you are applying as individual, a single proprietorship, partnership, corporation, etc.
Here are the lists of basic requirements for Regular Peso Time Deposit:
Individual:
- At least two (2) valid IDs such as:
- New SSS/GSIS ID
- Driver’s License
- Company ID
- School ID
- Passport
- PRC ID
- Postal ID
- Marriage contract (original copy)
- Credit Card of a Reputable Company
- License to Carry Firearms
- Two (2) copies of most recent 1 x 1 ID Picture
- Tax Identification Number
Single Proprietorship
- Registration of Business Name with the Department of Trade
- Original Application for Registration
- Two (2) valid identification cards of signatory
Partnership
- Articles of Partnership
- Certificate of Registration with the Securities and Exchange Commission
- Agreement on the extent of
authority of each partner - Two (2) valid identification cards of signatories
Association or Organization
- Constitution
- Association Agreement
Corporation
- Articles of Incorporation
- Certificate of Registration with the Securities and Exchange Commission
- Corporate By-Laws
- Board Resolution duly notarized incorporating the following:
- Authority to open a bank account with LANDBANK
- List of officers authorized to sign and the nature and extent of such authority
- Notarized List of Officers, Board of Directors, Stockholders
- Two (2) valid identification cards of
signatorie
Cooperatives
- Certificate of Registration with the Cooperative Development Authority
- Articles of Cooperation and By-Laws
- Authority to open a bank account with LANDBANK
- Designated Officers authorized to sign and the nature and extent of such authority
- Duly notarized Board resolution incorporating the following:
- Authority to open
bank account with LANDBANK - Designated Officers authorized to sign and the nature and extent of such authority
- Authority to open
Corporation in the Process of Incorporation
- Proposed Articles of Incorporation stating therein the name of Treasurer-in-Trust acknowledged to open an account with the Bank on behalf of the Corporation
- Duly notarized Secretary’s Certificate
- Duly notarized Treasurer’s Affidavit
Government Entities
- Charter and/or Law creating the government corporation/agency/office
- Executive Order or Department Order creating the government agency
- Board Resolution duly notarized incorporating the following:
- Authority to open a bank account with LANDBANK
- Officers authorized to sign and the nature and extent of such authority
We’re pleased to have helped you on your inquiry regarding the requirements in applying for Landbank Time Deposit. Thank you for visiting us. Rest assured we’ll continue to post informative updates.
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