Basic deposit account

Landbank Piso Plus allows anyone to open a basic deposit account through a smartphone without an initial deposit and maintaining balance.

“It is one of our financial services meant to bring more people into a reliable, convenient, and secure banking system. Saving now in the bank is made faster and easier because the only requirements for opening an account in Landbank Piso Plus are a smartphone, internet access, a valid identification card or barangay certificate, and an email address,” Ortiz explained.

The first thing to do is download the Landbank Mobile Banking app for free from the Apple Store or Android. Then, open the application, select the “Open an Account” button, follow the instructions, and complete the account opening application. Once completed, authorized Landbank personnel will immediately review and approve it.

Financial literacy

The Agrisenso Lending Program is designed to provide affordable credit assistance and support services to empower local farmers.

"Landbank wants to help the entire value chain to make sure that they are given access to capital and financing. This is an important component in countryside development," Ortiz pressed.

Small farmers, agrarian reform beneficiaries, farmers’ cooperatives and associations, agrarian reform beneficiary organizations, agribusiness enterprises, and agriculture graduates can borrow capital.

“Specifically, they can borrow from the Landbank Agrisenso Lending Program up to 90 percent of the total cost of farming for production loans or up to 80 percent of the total acquisition cost or project cost for fixed asset acquisition,” Ortiz furthered.

The program, which has an initial fund of P10 billion, aims to encourage small farmers and fisherfolk engage in value-chain financing and farm clustering for increased production of rice, corn, and high-value crops.

Without a doubt, Landbank is on track to attain its vision by 2028 of being at the forefront of nation-building through the promotion of financial inclusion, digital transformation and sustainable development that benefits all Filipinos. (CLJD/CCN-PIA 3)