One thing I learned from Mom is saving money, and opening a passbook savings account in a bank has always been included in my to-do list. Now that I already have some extra 20,000 bucks to keep, I immediately completed the Land Bank’s requirements for opening accounts. I chose the Malacañang Branch since it is in the same building where I work.
After filling up and signing numerous application forms, I handed over my P20,000 together with my two (2) IDs, two (2) 1×1 ID photos, and proof of billing.
Few minutes after, VOILA! I already have my passbook with a good starting amount of P20,000! All I have to do now is just add P1,000 each month to make it grow.
I thought that opening an account would cause me inconvenience, but I was wrong. It was just as easy as 1-2-3. If I only knew, I should have done that earlier. But it is not too late to save. Nobody is too late to save. Next thing you know, you will be keeping a lot of money in your bank and worry not about your future.
how much the initial deposit for passbook?
As of the day I applied for one, it was P5,000.