Land Bank of the Philippines is a government-owned bank which is one of the biggest banks in the Philippines and ranks among the top five commercial banks in the country in terms of deposits, assets, loans and capital. Land Bank is also an official depository bank of the Republic of the Philippines.
Different from most Philippine banks, Land Bank has many rural branch networks that services many rural sector customers in places where banking is either limited to rural banks or is nonexistent. That is why it is not surprising you can see it in almost all places in the Philippines even the farthest towns or provinces in the country.
Land Bank has online banking which you can use to access your account anywhere provided you have Internet connection. It is better to apply also for an online banking once you open a bank account in Land Bank.
When opening an account you need to bring complete requirements in order to avoid hassles and for smooth processing. The requirements in opening a savings account in Land Bank will be the following.
For Individual Account:
- At least two (2) valid IDs such as: New Social Security System /Government Service Insurance System ID, Driver License, Company ID, School ID, Passport, Professional Regulations Commission ID, Postal ID, Marriage contract (original copy), Credit Card of a Reputable Company
- Two (2) copies of most recent 1 x 1 ID Photo
- Proof of Billing
- Tax Identification Number (TIN)
For Single Proprietorship:
- Registration of Business Name with Department of Trade and Industry logo
- Original Application for Registration
- Two (2) valid IDs of signatory
- Articles of Partnership
- Certificate of Registration with SEC
- Agreement on the extent of authority of each partner
- Two (2) valid IDs of signatories
Having a savings account will give you more power and discipline to save unlike if you do not have. Other benefits of savings account are you can have interest from the principal money you deposited into your account.
Opening a savings account in the bank will be easy if you have the complete requirements that is why it is very important to bring all once you decided to go to the bank.