Land Bank of the Philippines’ “Harvest 5″ long-term time deposit
November 22, 2006
Product Name
Land Bank of the Philippines' Tax-Free "Harvest 5" Long-term Time Deposit
Product Description
A long-term time deposit offered to individuals (single or joint accounts) by Land Bank of the Philippines (LBP), earning the prevailing market interest rate.
Term
Five (5) years and one (1) day
Minimum investment
P100,000
Interest Rate
Prevailing market rate
Tax exemption
No withholding tax and documentary stamp tax if maintained until the end of the investment period
Options for Interest Crediting
Compounding - Interest earned is reinvested with the capital and compounded monthly until maturity
Monthly Crediting - Interest earned is credited to an affiliate LBP account every month
Pre-Termination Penalty
If the investment is pre-terminated within ninety (90) days from the date of placement, interest rate to be applied is the prevailing regular savings interest rate. If pre-terminated beyond ninety (90) days but below five (5) years from the date of placement, interest to be applied is the time deposit posted depending on the amount and days of placement.
Contact Details
Land Bank of the Philippines
LANDBANK Plaza
1598 M. H. Del Pilar cor Dr. Quintos Streets
Malate, Manila, Philippines 1004
Office Numbers: (632)5512200 / 6220000 / 4507001
Website: www.landbank.com
Discuss this product
Discuss this and other time deposit and bank products in the Banking, Personal Finance, and Other Money Matters board of the PMT Forum.
[tags]investments Philippines, investment products, time deposit Philippines, high yield investment, high return, interest rate, Land Bank of the Philippines, LandBank[/tags]
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May 26th, 2007 at 8:33 pm
Dear Sir/Ma’am,
Im currently working in UAE and I am interested on time deposit…
What are the requirements and procedure on time deposit..pampanga branch.
Your immediate respond is highly appreciated.
Yours Truly,
Ayessa Bajamundi
GAMCO - UAE
00971508493895
June 3rd, 2007 at 9:17 pm
Hi Ayessa, just visit the bank and they will tell you about the requirements. Normally it’s just copies of your IDs and, at times, utility bills for identification.
But if you are not in the Philippines, you can use some banks’ online banking facility to open a time deposit account. If you, however, still don’t have an online banking account or, at the least, an account with a bank, then it might be difficult to do it right now because most of the time, the bank would request that you visit their branch first before they allow you to open an account with them.
July 23rd, 2007 at 8:59 am
Greetings,first pinoymoneytalk,thank you very much sa very educational,imformative website.marami po kayong natutulungan na ofw kagaya ko na highschool graduete at walang alam sa banking and investing.sir ganito po yun,i have plan to invest sa isang bank member ng legacy group.banco of east asia sa minglanilla cebu.i have plan to invest 250k.dahil po ofw ako.ang signature card po ay ipadala lang nila sa akin dito then ang pera itransfer ko po sa metrobank account ng banco of east asia.ang tanong ko po pwede po ba yun?hinde po ba yun elligal ang gagawin nila?thank you in advance and some advice are highly appreciated.
jim
July 23rd, 2007 at 10:26 am
Hi jimmy,
I personally think there’s nothing wrong with that. Some banks do it, especially because OFWs cannot make a personal appearance when opening a bank account. Just make sure, though, that you are transacting with people officially connected to the bank and that you get receipts and/or proof that your deposit was indeed received by the bank. Make sure as well that the bank account is under the bank’s name and not under an individual’s. Ask why if it was otherwise.
We don’t have a thread yet specific to the Minglanilla Bank (also called Bank of East Asia) but the bank has been mentioned several times in the Legacy Financial Group Part 2 and Part 3 threads. Drop by those to read more about the Bank of East Asia.
September 5th, 2007 at 6:28 am
hi,
kumosta,gusto ko lang magtanongtungkol sa mag invest forgood na po nanirahan dito sa ireland althuogh dalawa po ang gamit ko napassporte ano po ang mga kakailanganin balak ko pong mag time deposit. ito po ang email add:dogbiege@yahoo.co.uk
May 30th, 2008 at 5:45 pm
tanong ko lang po kung how much b magiging nterest f magtym deposit ng 1M s loob ng 10 years. Kapag po ganun ang principal, in 10 years time, mgkano n po ang magiging total money?