Cebuana Lhuillier had launched its new product. For weeks now, I have seen numerous campaign of this affordable and more convenient way of saving our hard-earned money.
Last Friday, I opened an account and its easy to open a micro-savings account just tell their representative your interest. You must be Cebuana Lhuillier 24K Plus Card holder. For non-Cebuana Lhuillier 24k Plus Card holder, you can avail it for only P100.00.
To open your micro savings account they will let you sign up the customer form, present a valid ID and a minimum deposit of P 50.
They will encode your data, you will receive your account number and your pre-assigned PIN via SMS. You will be instructed to change the PIN through Cebuana PIN Pad.
I’ve learned some information about micro-savings:
1. Deposit amount: Min of P 50 to Max of P 50, 000
2. Your micro savings will earn interest of 0.30% per annum.
3. Cash withdrawal is limited only 3x per day from a Min of 100 to Max of 5, 000.
4. No Maintaining Balance, Deposit Fee, and Dormant Fee.
I am curious how these micro savings will work for us Filipinos who do not have their own bank account. Micro-savings cater Filipinos from all walks of life that will change our mindset when it comes to savings.
What made me interested in these products is they will launch an app called eCebuana which allows you to access services similar to online banking. The apps have facilities to send money, pay bills and will also give you access to cashless shopping.
I suggest that all Filipinos who are capable to save should open an account with Cebuana Lhuillier Micro Savings to empower ourselves by saving for our future.