Cebuana Lhuillier Micro Savings | How to Open a Micro Savings Account

Beshie, ano ang mararating ng Php50 mo?

Believe it or not, pwede na yang pang-open ng Cebuana Lhuillier Micro Savings!  For only 50 pesos, may SAVINGS ACCOUNT ka na! No maintaining balance, and it requires only one valid ID. And because of Cebuana Lhuillier’s wide network of branches comprised of 2,500 retail infrastructures, account holders can deposit and withdraw anywhere at their most convenient hours.


Cebuana Lhuillier recently launched an easier and more convenient way to save through micro savings product.  It enables every Filipino to break through the barriers or reasons why Filipinos don't open a bank account such as high initial deposit, high maintaining balance, dormancy charges, numerous requirements and distance of banks from home.

Here are the super easy steps to open a Micro Savings account:

Step 1. Fill up the Client Customer Information File Sheet for opening a Micro Savings account.

Step 2. Present 1 Government issued ID.

ID acknowledged are:

ACR Alien Certification of Registration
Birth Certificate for minors
Barangay Certificate with picture and signatory
Company ID
Driver’s License
DSWD certificate
PAGIBIG ID
Philhealth ID
Police Clearance
NBI CLearance
School ID
Voters ID
IBP Integrated Bar of the Philippines
NEW TIN ID
OFW ID
OWWA ID
GSIS Ecard
Seman’s book
Gun permit
Marriage certificate
PRC Professional Regulatory Commission

Step 3. Give Php50 initial deposit.

Step 4. Wait for a text confirmation regarding your account activation.

Filipino citizens aged at least 7 years old can open a Micro-savings account. There's a P100 card fee for clients w/o 24k card. Minimum deposit is Php50, maximum of Php50,000.  Php100 to Php5,000 withdrawal limit (with at least 3 withdrawal transactions a day). 0.30% interest per annum when P500 average daily balance is reached. Account balance can be checked through Cebuana Pin Pad and SMS.



Cebuana Lhuillier micro savings product is in line with the Cebuana Lhuillier’s mission of financial inclusion, which has been the thrust of the company for the past 30 years.


“With BSP’s basic deposit framework, Cebuana Lhuillier Micro Savings completes the full roster of our services, all designed and developed with financial inclusion in mind. We’ve come full circle—from offering collateralized loans or pawning, remittance service, micro insurance and now, micro savings—all of these products were designed with Filipinos from all walks of life in mind especially the unbanked and underserved, who would not have access to these financial services given their circumstances in life,” said Jean Henri Lhuillier, president & CEO of Cebuana Lhuillier.

To ensure that micro savings account holders can fully maximize the use of their savings account and ensure greater connectivity, Cebuana Lhuillier will also be launching its very own eCebuana app which allows micro savings users to check their balance and send money through remittance, as well as load prepaid credits to their phones, and pay their bills by integrating it to their Micro Savings account.

The app is just the first step in a long line of innovations connected to the micro savings product – on top of which is its migration to an EMV-enabled card which can be accessed through ATMs (automated teller machines).  It will also carry a debit and credit facility for online and cashless shopping, provide access to auxiliary services and help corporate and MSME (micro, small, and medium enterprises) clients manage their business through payroll cash management solutions.

Furthermore, it will progress to provide more value with features like remit-to-and-from savings account; pay and deposit from savings account; and an international remit-to-account feature which will provide convenience to Filipinos abroad in sending money to their families in the Philippines. This innovation will also allow clients to have safe and convenient access to their accounts in all Cebuana Lhuillier branches, Cebuana CARES, agent partners, and all online and mobile channels, as well as, access to all CLRB branches set to establish presence nationwide. For easier access, self-service kiosks in Cebuana Lhuillier branches will also be put in place.

All these efforts to make savings accessible to every Filipino are part of Cebuana Lhuillier President & CEO Jean Henri Lhuillier’s vision on financial wellness. “Cebuana Lhuillier is also adapting a new philosophy, which is financial wellness.  Our goal is not just to provide quick cash to the underbanked and unbanked for their short-term financial needs but to become an enabler for a better future for them. Allowing more and more Filipinos to steer their own direction and be captains of their own ship.  We want to help them graduate from being dependent through bridge financing options for them to experience financial freedom,” Lhuillier said.

The launch of Micro Savings coincides with the launch of the #KayaNa: Unbanked Filipinos No More Movement, which aims to transform the landscape of saving in the Philippines. In light and in support of the BSP’s call for greater financial inclusion among Filipinos, Cebuana Lhuillier aims to reach more underserved Filipinos and empower them to save for the future through its micro savings product.

But wait, there's more...

Join the #IponNaKaCebuana selfie contest for a chance to win Php1,000!  Click this link for more details. 

So what are you waiting for? Ipon na, Ka-Cebuana! It's high time we change the mindset from “Paano ba?” to “ Kaya Na!” For more information, just visit https://www.cebuanalhuillier.com/micro-savings/.

1 comment

  1. Okay to sa mga nahihirapan mag simula magipon sis kasi maliit lang na pera kailangan

    ReplyDelete

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