MANILA: Land Bank of the Philippines (LANDBANK) said it is offering a new sustainable time deposit product that channels funding support for social and environmental initiatives, while providing customers a secure avenue for financial returns. In a statement on Wednesday, the bank said the GreenGrowth Deposit features a fixed one-year term, with a minimum placement of PHP50,000 offering a 2.25 percent interest rate per annum. Customers can enjoy higher returns of up to 4.25% interest rate for deposits amounting to PHP5 million and above. Deposited funds under GreenGrowth Deposit are expected to boost LandBank's sustainable financing, focusing on renewable energy projects, green technologies, and other eco-friendly initiatives and investments. The funds will be also allocated for community-centric programs aimed at enhancing social welfare. 'The LANDBANK GreenGrowth Deposit reflects our dedication to creating a greener and more sustainable future, while encouraging customers to be part of this transformat ive journey. Open an account now where each peso deposited contributes to creating ripples of meaningful change,' said LandBank President and CEO Lynette Ortiz. Interested customers may open the GreenGrowth Deposit account online via the LandBank Digital Onboarding System and visit any of the 607 LandBank branches and branch-lite units nationwide to complete the account setup. Source: Philippines News Agency