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]
