The LandBank of the Philippines is continuing its help for OFWs since the incident. Because of this, they held another program which is dubbed as Bagong Bayani Program. LandBank made a compilation of everything they can do for assistance to OFWs for being modern-day heroes of our nation. This program includes a lot of benefits including a menu of savings and investment options for OFW. This is so for them to put their hard-earned money for long-term investments that they can have more chances of being successful.
Image: LandBank of the Philippines
Having this said, LandBank is currently in partnership with Filipino Migrant Associations and Organizations and OFW Groups for various activities. These groups hold seminars locally and abroad in which help promote financial literacy to OFWs as well as their families here in the Philippines. In this article, we will be discussing what the Bagong Bayani program is, how OFWs can apply for it, and what benefits it can give.
This type of account only requires an initial deposit of P100.00 and has no maintaining balance requirement. OFWs and their beneficiaries can also open a Bagong Bayani Passbook account for an initial deposit of P100.00 and maintain a required average daily balance of only P5,000.00 to earn interest.
LandBank is also offering the new Bagong Bayani USD Passbook Accountwhich accepts deposits in currencies Philippine Peso, US Dollars, or other currencies and are automatically converted to US dollar equivalents based on the transaction date’s prevailing foreign exchange rate.
To give you more information about it:
The Bagong Bayani ATM Account is issued in two forms: generic and personal. The generic card is issued by LBP Overseas Officers and other ORG designated personnel upon application while the personal cards are issued by LandBank branches with the account holder’s name embossed in the card.
Skip to content 