Planters Bank issues a retraction
Two days ago, I posted a Planters Bank advertisement published in the March 9, 2009 issue of the Philippine Daily Inquirer (see story). In the said advertisement, Planters Bank is promoting a 7% interest for Premium 5, its five-year time deposit.
Posting this information at Pinoy Money Talk, PMT member tokzz called up Planters Bank to verify if the interest rate still holds. Here’s what tokzz posted in PMT:
I called Planters Bank and they said na mali daw yung 7% sa Inquirer. That offer ended last February pa daw. Yung five-year is only 6.25%, monthly interest out. Yung one-year term naman is 5.75%…still better than other commercial or thirft bank offer.
I would like to thank tokzz for verifying this with Planters Bank. Admittedly, 6.25% interest rate is still a very good deal. But whoever is in charge of advertising in Planters Bank, please do your job effectively by making sure that what you advertise in the newspapers is real.