Interest-bearing Peso savings account for OF or OFW Beneficiaries who are below 18 years old but at least 7 years of age
Features
• No minimum initial deposit
• No maintaining balance
• Interest-bearing Peso savings account
• Receive remittance from OFBank Account holders, free of charge
• Transfer to and receive funds from other local banks’ accounts via InstaPay and PESONet with corresponding sending fees as applicable.
• Pay bills via ATM or online merchants accredited by LANDBANK
• Pay cashless through BancNet Point-of-Sale (POS) terminals in business establishments
• Withdraw cash through local ATMs and POS Cash-out, or over-the-counter in any LANDBANK branch
Eligibility Requirements
Fees and Charges
| Service Charge for falling below the minimum ADB | P0.00 | |
| Required Daily Balance to earn interest | P500.00 | |
| Interest rate (per annum) | 0.05% | |
| Maximum ATM withdrawal | P50,000.00 (per day) | |
| Interbank Transfer fee via Instapay | P15.00 (per transaction) | |
| Dormancy fee | P0.00 | |
| PDIC Insurance | P500,000.00 (maximum deposit insurance per depositor) |
