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iLand Bank

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by

Loren Christine

on 15 October 2013

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Transcript of iLand Bank

iLand Bank
Investment Programs
The iLand Bank offers investment programs for the people who plan their future through the use of saving. Our investment programs are designed to help those people attain their financial goals and serves as an advantage or a benefit towards a better life plan.
Revin Mikhael Ochave
Jerard Al Caudal
Loren Christine Solas
Princess Ivy Sunga
Clark Garret Aguisanda
Ellary Chris Mendoza
Background
The iLand Bank started when six friends, namely Jed, Ivy, Loren, Clark, Revin, and Chris, went on a vacation trip together to the island of Bora-Bora. It was time of prosperity in 1969. During their relaxation on the island, they realized that there were no banks in sight. With the island having such abundant natural resources, and is on top of tourism charts, the group was disappointed on how poorly the island’s façade and riches were used.
At first it was difficult because the people had no knowledge about establishing banks. The six friends had many misunderstandings; some of them even thought that making banks would be easy when in fact it takes strict responsibility and hard work.
Thanks to their persistence and determination, they managed to start establishing the bank within 1 and a half year. Because of their continuous and consistent success, other banks from the mainland tried buying their bank but the group rejected all of their offers and instead started to create branches of their bank in the main land and it began the business of the group.
Thus, the idea of establishing the iLand Bank on the island of Bora-Bora began.
1. SAVINGS ACCOUNT
This investment program is an interest-bearing deposit account that you could keep track of using a personal passbook given to you as soon as you start to deposit your money.
Features:
> INITIAL DEPOSIT - ₱ 15 000.00

> MAINTANING BALANCE - ₱ 10 000.00

> MANAGING FEE FOR ACCOUNTS BELOW MINIMUM BALANCE - ₱ 350.00

> CONTRIBUTION AMOUNT PER MONTH/2 MONTHS - ₱ 1 000.00 (MIN)
> CONTRIBUTION SCHEDULE:

PER MONTH: EVERY 5TH, 10TH, 15TH, 20TH, 25TH, OR 30TH

PER 2 MONTHS: EVERY 10TH, 20TH, OR 30TH

> NON-COMPLETION FEE FOR CONTRIBUTIONS – 0.85 % OF ORIGINAL AMOUNT

> INTEREST RATE – 0.50 %

> BALANCE NEEDED TO EARN INTEREST - ₱ 15 000.00

> REQUEST FOR AN ATM CARD – ADDITIONAL ₱ 150.00
Regulations:
UNTOUCHED accounts within 6 MONTHS will be automatically closed, sending the participant a notice letter, and the money will be donated to different charity organizations.

Participants should strictly comply with the following indications.
2. DUAL SAVINGS ACCOUNT
This investment program is an interest-bearing deposit account for two people sharing. The participants could keep track of this using one personal passbook given to both as soon as they start to deposit their money.
Benefits:
> AUTOMATIC SAVINGS AND INVESTMENTS

> CONVENIENCE AND FLEXIBILITY
Features:
> INITIAL DEPOSIT - ₱ 15 000.00

> MAINTANING BALANCE - ₱ 10 000.00

> MANAGING FEE FOR ACCOUNTS BELOW MINIMUM BALANCE - ₱ 350.00

> CONTRIBUTION AMOUNT PER MONTH/2 MONTHS - ₱ 1 000.00 (MIN)
> CONTRIBUTION SCHEDULE:

PER MONTH: EVERY 5TH, 10TH, 15TH, 20TH, 25TH, OR 30TH

PER 2 MONTHS: EVERY 10TH, 20TH, OR 30TH

> NON-COMPLETION FEE FOR CONTRIBUTIONS – 0.85 % OF ORIGINAL AMOUNT

> INTEREST RATE – 0.50 %

> BALANCE NEEDED TO EARN INTEREST - ₱ 15 000.00

> REQUEST FOR AN ATM CARD – ADDITIONAL ₱ 150.00
Benefits:
> AUTOMATIC SAVINGS AND INVESTMENTS

> CONVENIENCE AND FLEXIBILITY
Regulations:
UNTOUCHED accounts within 6 MONTHS will be automatically closed, sending the participants a notice letter, and the money will be donated to different charity organizations.

Participants should strictly comply with the following indications.
3. JUNIOR SAVINGS ACCOUNT
This investment program is an interest-bearing deposit account for juniors aspiring for a productive future. This account is specifically for people aging below 18 years. A personal passbook will be given to keep track of their account.
Features:
> INITIAL DEPOSIT - ₱ 1 000.00

> MAINTANING BALANCE - ₱ 500.00

> MANAGING FEE FOR ACCOUNTS BELOW MINIMUM BALANCE - ₱ 250.00

> CONTRIBUTION AMOUNT PER MONTH/2 MONTHS - ₱ 500.00 (MIN)
> CONTRIBUTION SCHEDULE:

PER MONTH: EVERY 5TH, 10TH, 15TH, 20TH, 25TH, OR 30TH

PER 2 MONTHS: EVERY 10TH, 20TH, OR 30TH

> NON-COMPLETION FEE FOR CONTRIBUTIONS – 0.70 % OF ORIGINAL AMOUNT

> INTEREST RATE – 0.20 %

> BALANCE NEEDED TO EARN INTEREST - ₱ 3 500.00

> REQUEST FOR AN ATM CARD – NOT ALLOWED
Benefits:
> AUTOMATIC SAVINGS AND INVESTMENTS

> CONVENIENCE AND FLEXIBILITY
Regulations:
UNTOUCHED accounts within 6 MONTHS will be automatically closed, sending the participant a notice letter, and the money will be donated to different charity organizations.

Participants should strictly comply with the following indications.
4. TIME DEPOSIT ACCOUNT
This is an optional account for depositing available excess funds in a high interest account type. It is an investment program offered to withhold your money until a specific date.
Features:
For a 1-month time deposit.
Benefits:
> AUTOMATIC SAVINGS AND INVESTMENTS

> CONVENIENCE AND FLEXIBILITY
Regulations:
Participants should strictly comply with the following indications.
For a 3-month time deposit.
Benefits:
> AUTOMATIC SAVINGS AND INVESTMENTS

> CONVENIENCE AND FLEXIBILITY
Regulations:
Participants should strictly comply with the following indications.
For a 6-month to a 1-year time deposit.
Benefits:
> AUTOMATIC SAVINGS AND INVESTMENTS

> CONVENIENCE AND FLEXIBILITY
Regulations:
Participants should strictly comply with the following indications.
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