Land Bank of the Philippines Unveils New Deposit Product

The Land Bank of the Philippines unveils its new deposit product with optimal interest rates. Save more and earn more with tiered interest rates up to 4% based on your average daily balance.

What's new with LandBank?

OptiSaver is the latest offering from the Land of the Philippines and offers 0.05% to 4.00% tiered interest rates.

OptiSaver Features

• Open through a LANDBANK Branch or the LANDBANK Mobile Banking Application (MBA).
• Two accounts options (LANDBANK Visa Cardless Account or Passbook Account)
• The LANDBANK MBA provides easy monitoring.
• Interest rates are scaled from 0.05% to 4.00%.
• The minimum deposit is PHP 50,000.
• The required minimum balance to earn interest is PHP 50,000.00.
• No minimum term
• Unlimited number of deposits, withdrawals, or fund transfers per month.
• Daily computation of interest.
• 20% is the withholding tax.
• Covered by PDIC Deposit Insurance (PhP 500,000.00).

​
Regular interest rate: 0.05%:  

PhP 50,000.00 to PhP 499,999.99 

Tiered interest rate based on average daily balance (ADB):

1.00%:  PhP 500,000.00 to PhP 999,999.99
2.00%:  PhP 1,000,000.00 to PhP 2,999,999.99
2.50%:  PhP 3,000,000.00 to PhP 4,999,999.99
3.00%:  PhP 5,000,000.00 to PhP 6,999,999.99
3.50%:  PhP 7,000,000.00 to PhP 8,999,999.99
3.75%:  PhP 9,000,000.00 to PhP 9,999,999.99
4.00%:  PhP 10,000,000.00 and up

OptiSaver Fees
​

• PhP 200.00 per withdrawal, automatically deducted by the system from the deposit account at the end of the month. This service fee is in excess of two (2) withdrawals per month for over-the-counter transactions.
• Monthly PhP 200.00 service fee for falling below the minimum ADB
• Monthly PhP 30.00 for the dormancy fee
• A PhP 300.00 service fee if closed within 30 calendar days from the date of opening.
• There is no documentary stamp tax fee.
• A PhP 200.00 replacement fee for a lost or damaged passbook or conversion of account.

OptiSaver Functionalities

​Viewing throught Mobile Banking Application: Current Account Balance and Transaction History
Automatic closure if 90 days zero balance.

---

You may also consider these related topics:

How to Open A U.S. Dollar Savings Account with LandBank Digital OnBoarding System (DOBS)
Start Investing with LandBank's Unit Investment Trust Fund (UITF)