STATE-OWNED Land Bank of the Philippines (LANDBANK) said that they have started to offer a new sustainable time deposit product that will cater to the social and environmental initiatives.

They said that this will provide customers a secure avenue for financial returns.

In a statement, the bank said that GreenGrowth Deposit features a fixed one-year term, with a minimum placement of PHP50,000 offering a 2.25 percent interest rate per annum.

On the other hand, customers can expect higher returns of up to 4.25% interest rate for deposits amounting to PHP5 million and above.

Those that will be deposited under the GreenGrowth Deposit are expected to be a big help to 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 transformative journey. Open an account now where each peso deposited contributes to creating ripples of meaningful change,” said LandBank President and CEO Lynette Ortiz.