Land Bank of the Philippines’ “Harvest 5″ long-term time deposit

November 22, 2006

Stocks, Mutual Funds, Forex, Finance Philippines

Make Money Online, Stocks, Mutual Funds, Philippines

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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Written by James | PinoyMoneyTalk.com · Filed Under Banking and Insurance, Investment Products

Join the discussion! Post a comment below

Ayessa Bajamundi

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
http://www.pinoymoneytalk.com pinoymoneytalk

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.
- R Fajardo
  
  hi,
  
  Would you know any Phil banks that doesn’t request personal appearance for opening time deposit accounts, like, they allow identification papers to be sent thru mail?
  
  Also, what are the best form of mutual fund do you recommend for an ofw like me?
  
  thanks in advance,
  
  r.fajardo@rocketmail.com
jimmy banquillo

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
http://www.pinoymoneytalk.com pinoymoneytalk

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.
betsy mullally

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
zoilo calderon

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?
Ronilo P. Garzon

To my kababayan na mga OFW especially taga Mindanao na gustong mag invest sa LEGACY GROUP. Ako po ay handang mag lingkod sa inyo para i manage ang inyong hard earned money. We can offer you our PRE-NEED BUY BACK 2 (PBB 2) program that will earn your money 125% in 3 years. Meron din tayong BANK PRODUCTS na CERTIFICATE OF TIME DEPOSIT (CTD)double your money in 6 years. You can contact me in my email ad: rpgtiwi@gmail.com and cellphone number 09216070215.

Ito po ang pagkakataon nyo na palaguin ang pera nyo dito sa PILIPINAS habang nasa abroad pa kayo.
Doc Mike

My fellow OCW wag magpaloko sa Legacy group. Bagsak na ang company na yan. Sayang ang hard earned
money nyo.
Lorenzo

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?
http://www.altin-cilek-zayiflama-hapi.com/