MANILA - The Land Bank of the Philippines (LANDBANK) introduced a new sustainable time deposit product named GreenGrowth Deposit, aimed at supporting social and environmental projects.
According to Philippines News Agency, the product offers a fixed one-year term with a minimum placement of PHP50,000 and an interest rate of 2.25 percent per annum, with the rate increasing to up to 4.25 percent for deposits of PHP5 million and above.
The initiative is part of LANDBANK's commitment to sustainable financing, targeting renewable energy projects, green technologies, and other eco-friendly initiatives, alongside community-centric programs focused on social welfare enhancement. LandBank President and CEO Lynette Ortiz expressed the bank's dedication to fostering a greener and more sustainable future, encouraging customers to contribute to meaningful change through their deposits. The GreenGrowth Deposit is available for online account opening via the LandBank Digital Onboarding System, with completion of the account setup possible at any of the bank's 607 branches nationwide.