Planbank, Rural Bank of Canlubang Planters, Inc., a trusted rural bank in the Philippines, launched its newest product, the ‘Easy Save Deposit’ account, on February 5, 2025.
According to the 2021 Financial Inclusion Survey by the Bangko Sentral ng Pilipinas, more than half of the country’s adult population now owns a financial account. This indicates a clear desire for secure, straightforward options to grow their finances. Planbank aims to further expand this access with the Easy Save Deposit.
The Easy Save Deposit account combines the familiarity of a passbook with the modern convenience of an ATM card. It is more than just a savings account; it’s a tool for your financial journey. Whether you’re a student taking your first steps in financial independence, a young professional building your future, a seasoned entrepreneur growing your business, or a retiree enjoying the fruits of your labor, this account is tailored for you.
With an initial deposit and a maintaining balance of just PHP 3,000, Planbank makes saving accessible to everyone. The account starts earning interest once your average daily balance reaches PHP 5,000, and interest is paid out at the end of every month.
Planbank has streamlined the process to make your everyday banking effortless. This includes options for in-person transactions with your passbook and quick access to your funds through ATMs. The ATM service allows for daily withdrawals up to PHP 20,000, with a maximum of PHP 10,000 per transaction. Moreover, there is no limit to the number or amount of withdrawals allowed per day when using a passbook.
“Deposits are insured by PDIC up to PHP 500,000 per depositor.” Additionally, your Easy Save Deposit funds can be used as collateral for loans, providing an additional layer of financial flexibility.
The Easy Save Deposit account is available to: individuals who are at least 13 years old and able to manage their own finances; parents or guardians of children under 13 years of age; and single proprietorships under the owner’s name. Planbank’s dedication to their communities drives them to offer financial solutions to help individuals achieve their goals, one deposit at a time.
Planbank, founded on November 24, 1952, in Calamba City, Laguna, is the second oldest rural bank in the Philippines, originally established by a cooperative of sugar planters from Laguna, Cavite, and Batangas. Licensed by the Banko Sentral ng Pilipinas on January 25, 1953, it has a long history of supporting farmers, individuals, and SMEs.
In October 2013, Ambassador Antonio L. Cabangon Chua acquired Planbank, making it part of the ALC Group of Companies, a diversified conglomerate currently chaired by D. Edgard A. Cabangon.
Today, Planbank operates 13 branches in Laguna, Bulacan, and Batangas, remaining a key player in improving the economic well-being of its clients and communities.
