MANILA: State-run Land Bank of the Philippines (LandBank) launched a new promo that gives depositors the chance to win up to PHP1 million in cash and gadgets by growing their savings with the bank. In a statement on Wednesday, LandBank said the IpoNalo raffle promo is part of the bank's campaign to empower its clients to build financial security. Customers can earn e-raffle tickets and join the IpoNalo raffle promo by increasing their deposits in their LandBank accounts from July 3, 2024 to Jan. 31, 2025. The IpoNalo promo is available for new and existing clients with LandBank accounts, such as regular passbook and ATM savings account, dollar savings account, regular and interest-bearing current account, Easy Savings Plus, OptiSaver Account, Green Growth Account, High Yield Savings Account, and peso or dollar time deposit account. Individual depositors will earn one electronic-raffle ticket for every incremental average daily balance (ADB) of PHP100,000. Private institutional depositors will earn one e- raffle ticket for every incremental ADB of PHP1 million. Participants must maintain their ADB until the end of the promo period to remain eligible for the e-raffle draw on Feb. 14, 2025. LandBank will select one winner via electronic raffle for each major cash prize of PHP1 million for the grand prize and PHP500,000 and PHP250,000 as the 2nd and 3rd prizes, respectively. The bank said minor prizes also include iPhones, iPads, and Macbook Airs, with 36 winners each. The proceeds of the promo campaign will help fund the bank's developmental programs and initiatives. 'Through IpoNalo, we aim to help our clients build their savings through a broad range of secure and reliable deposit options, and possibly win prizes in the process," LandBank president and CEO Lynette Ortiz said. "This is also our way of expressing our gratitude to our clients for their continued trust and loyalty,' Ortiz said. Source: Philippines News Agency