3 Reasons to Try Cebuana Lhuillier Micro Savings

Admittedly I am not into investment and savings how could I even save when I am raising my 2 kids on my own. Then I discovered that there is such a thing as  a Cebuana Lhuillier Micro Savings account. So here are 3 reasons why It’s worth looking into.

1. The required minimum amount to open an account is only 50. Yes the initial deposit is 50 pesos more affordable than a tall Starbucks drink or a Milktea drink. What’s great about all of this is that there are no transaction fees for cash withdrawal and deposit. The minimum cash deposit is Php 50 while the maximum cash deposit is Php 50,000. For withdrawal transactions, the minimum amount is Php 100 and the maximum amount is Php 5,000.  Okay of course this is not really your typical bank  only three (3) successful transactions per card, per day are allowed.  There is no required maintaining balance for this type of account.

2. Its very easy to open an account. I remember that when I opened a bank account and it was very challenging as they asked for so many things.  You only ned one (1) photo-bearing government-issued ID, and Php50 initial deposit. For the list of valid IDs accepted by Cebuana Lhuillier, please refer to the list below:

  • Alien Certification Of Registration (ACR)
  • Birth Certificate (Applicable to minors only)
  • Barangay Certiifcate or ID (w/ picture and signature)
  • Company ID • Driver’s license • Dswd certificate
  •  GOCC ID (Afp, HDMF-Pagibig, Philhealth etc)
  • GSIS E-Card
  •  IBP (Integrated Bar Of The Philippines)
  • Immigrant Certificate Of Registration
  • National Bureau Of Investigation (NBI) clearance
  •  Nat’l Council For The Welfare Of Disabled Persons
  •  New TIN ID
  • OFW ID
  •  Passport
  • Police clearance
  •  Postal ID
  • Professional Regulation Commission (PRC) ID
  • Seaman’s Book
  • Senior Citizen’s ID
  •  Social Security System (SSS) ID
  •  Student ID
  •  Voter’s ID
  • Firearm license
  •  Marriage license

3.  Another great thing is that  the Cebuana Lhuillier Micro Savings account earns interest per annum if the account has an average daily balance of Php 500.  Your deposit is guaranteed safe in your Cebuana Lhuillier Micro Savings account. Cebuana Lhuillier branch personnel are fully trained and capable of handling finances with utmost care. Your account is also protected by a PIN that will always remain confidential. Also, all Micro Savings accounts are covered by the Philippine Deposit Insurance Corporation (PDIC).

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