LandBank’s PISO Account Offers One-Peso Minimum Deposit

Land Bank of the Philippines (LandBank) launched “Perang Inimpok Savings Option” or PISO savings account dedicated to students, public utility vehicle drivers, vendors, farmers, fishers, and household helpers, among others.

It is offered to Filipinos who lack the capacity to set up a regular deposit account with a higher initial deposit, minimum balance, and maintenance fees.

Opening a PISO account requires an initial deposit of as low as P1 and a maximum balance of P50,000. Depositors must submit at least one valid identification card or barangay certificate, clearance, or ID for verification purposes.

The creation of the PISO account is in line with LandBank’s commitment to “develop accessible and convenient banking products relevant to the diverse needs of our customers, including the unbanked and underserved,” LandBank president and CEO Cecilia Borromeo said in a report from GMA News Online on July 24.

The LandBank PISO account is accessible in LandBank, BancNet, and 7-Eleven automated teller machines (ATMs), domestic point-of-sale (POS) terminals, and for over-the-counter branch banking services.

For more information about LandBank’s PISO account, you may visit the nearest LandBank branch in your area.