MANILA, Feb. 14 -- 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 initiative...