Planters Bank issues a retraction

March 11, 2009 at 2:00 pm 1 comment


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.

Entry filed under: Banking, Savings. Tags: , .

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1 Comment Add your own

  • 1. rm  |  March 12, 2009 at 12:55 pm

    “do their job effectively”? I Think they effectively did their job… luring some customers to go to their branches to open a TD account for a 7% interest pero di naman pala…. pero since nasa branch na sila and ok na rin yung 6.25% sige na rin..

    mas tama na they should “do their job correctly”, this is clearly panloloko ng tao… dapat kahit ganito kasimpleng bagay di pinapalampas… shame on you planters bank.

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