Cebuana Lhuillier Micro Savings Opening Requirements, Interest Rate, Deposit, Withdrawal

Do you want to open a savings account but banks won’t allow you or their requirements are too difficult to comply with? Cebuana Lhuillier has an alternative for you. Open a Cebuana Micro Savings account and start saving your money.

Mag-impok sa mas madaling paraan. Mabilis lang mag-open ng account.

With just 1 valid ID as requirement plus PHP 50 account opening balance – Filipinos age 7 years old and up can open a savings account thru Cebuana Lhuillier starting this 2019.  

This is open to all nationwide in over 2,000++ branches of Cebuana Lhuillier, provided one can submit the requirements to open an account. 

iSensey gathered the info we found on the official website with explanations para mas maintindihan ng mas nakakarami. Sana po ishare ninyo ang post na to sa iba para makatulong din na mag start sila ng savings. Salamat po. 

May savings interest ba ang ipon mo sa MicroSavings ng Cebuana? Yes! Per the info on the company’s website, saved-up funds will have an interest rate per annum of 0.30% basta ang amount ng na-save mo is PHP 500 and up. If the amount saved is LESS THAN PHP 500, there is no interest that will be given.

What is the minimum amount para maka-start mag ipon? 50 pesos lang po.

*But isa sa requirements ang pagkakaroon ng 24K Card para maka-open ng microsavings account. So if wala ka pang Cebuana 24K Card, kukuha ka ng card sa halagang PHP 100. Ang total na ‘cash-out’ mo is PHP 50 deposit + PHP 100 24K card fee = PHP 150.

If you already have a 24K Card, then puede ka na agad mag open ng savings account sa halagang 50 pesos. Magsubmit lang ng isang valid ID.

What is the Minimum Maintaining Balance? Wala po. Unlike traditional banks like BDO, Metrobank, BPI, Security Bank, etc which requires a maintaining balance, sa Cebuana microsavings wala pong maintaining balance so hindi ka matatakot na magkaron ng deduction for falling below maintaining. 

In other banks, there is a monthly P100 or P200 charge for falling below required maintaining balance. Kakainin ng ibang bangko ang balanse mo until ma zero na ang account at icloclose nila. 

Pag hindi maka-deposit ng matagal, mag cha-charge ba ng Dormancy like sa mga tradisyonal na bangko? Per Cebuana guideline, wala din silang Dormancy Period so kahit matagal na walang movement ang account, walang deposit, walang withdrawal, hindi ka ichacharge ng Cebuana ng dormant fee. 

How much money can you save in this Micro Savings account? This product is a “microsaving” so there is a Maximum Account Balance which is PHP 50,000. Example: Naka-ipon ka na ng PHP 48,000 sa iyong Cebuana micro saving account, tapos you want to make a new deposit of PHP 6,000. Cebuana will only accept additional PHP 2,000 deposit from you. They will not accept the full PHP 6,000 kasi lalagpas ka na sa PHP 50,000 maximum deposit balance.

*We hope this iSensey article helps you understand the offer of Cebuana. If you have questions, we strongly encourage you to visit a branch and duon mag tanong kasi sila ang nakaka-alam sa lahat ng pasikot-sikot ng produkto nilang eto. We are not affiliated with Cebuana Lhuillier so we can’t answer all your questions.

I am already a member of Cebuana Micro Savings, I want to make a new deposit, what is the minimum amount and is there a fee to make a deposit transaction? Good news! There is NO deposit fee. Hindi kayo ichacharge ng Cebuana pag mag deposit kayo sa account. 

An account holder may go to any branch of Cebuana and make a deposit with minimum amount of PHP 50 per transaction. So ano po ibig sabihin neto? Puede kayo mag deposit sa halagang 50 pesos and up. Walang charge ang pag-deposit.

Demo: If you plan to deposit PHP 30, hindi po ipaprocess ng teller yan kasi ang minimum is PHP 50. If you plan to deposit PHP 75, tatanggapin po yan kasi pasok sa minimum.

Can you deposit in ANY Cebuana Lhuillier branches? Yes, you may deposit in any branch of Cebuana Lhuillier nationwide.

I want to withdraw some cash from my savings, what is the minimum withdrawal amount? If you already have a micro savings account with Cebuana Lhuillier, you can withdraw cash. However, there is a minimum withdrawal amount of PHP 100 and maximum of PHP 5,000.

You may withdraw PHP 115 but you can’t withdraw PHP 80 kasi may minimum withdrawal amount rule na 100 pesos. 

Maximum withdrawal amount is PHP 5,000. You may withdraw PHP 4,500 but you can’t withdraw PHP 5,100 in one transaction kasi lalagpas sa maximum amount na P5K. If mas malaki sa PHP 5,000 ang gusto mo i-withdraw, you will split the amount into different transactions.

Since an account holder is allowed to make a withdrawal three times in one day, in effect puede pa ding mag-withdraw na higit sa 5 thousand pesos, kailangan lang na “i-split” mo ang transaction.

So ang example ng iSensey ay eto – may micro-savings kayo na P35,000. Gusto niyo mag withdraw ng PHP 13,000. Ang mangyayari is tatlong beses kayo mag fill-up ng withdrawal form. First transaction withdraw PHP 5,000. Second transaction withdraw PHP 5,000. Third transaction withdraw PHP 3,000. Total of the “3 withdrawals” is PHP 13,000.

Is there a WITHDRAWAL FEE sa Cebuana Micro Savings? On the website of Cebuana, the answer to this question is “ Withdrawal Fee May be subject to rates”. That statement is unclear, we will try our best to find out the clear answer to this. But for now and based on our understanding of their rule, mukhang meron unless mag promo sila na walang withdrawal fee.

How much is the withdrawal fee sa Cebuana micro savings? According to them this fee ‘may be subject to rates’.  Hindi talaga klaro, kung naka-try na kayo mag withdraw sa inyong micro-savings account, please share with us kung may withdrawal fee and how much eto. 

What is the REQUIREMENTS TO OPEN AN ACCOUNT with Cebuana Micro Savings? 

1. 50 pesos opening balance.
2. 1 valid government ID
3. 24K Card
4. Fill-up completely an application form. Get one from the branch where you want to apply.
5. The age of the person who wants to open an account must be at least 7 years old. So ang bata puedeng-puede mag start mag-ipon via Cebuana.

List of accepted Government/Valid IDs accepted by Cebuana Lhuillier are as follows: 

Passport, Driver’s License,  PRC ID, NBI Clearance (not expired), Police Clearance (not expired), Voter’s ID,  GSIS  e-Card, SSS  ID,  UMID ID, Senior Citizen’s ID,  OWWA ID, OFW ID,  Seaman’s Book, Barangay certificate of ID (with picture and signature), Firearm license, Marriage License, PWD ID, New TIN ID, New Postal ID,  GOCC ID like AFP ID, HDMF  Pag-ibig Fund ID, etc..

*Company IDs issued by private entities or institutions registered with or supervised or regulated either by the BSP (Bangko Sentral ng Pilipinas), SEC (Securities and Exchange Commission) or IC (Insurance Commission) are also accepted by Cebuana Lhuiller for their micro-savings product. 

If the applicant is a minor, the following are accepted as VALID ID:

•  Birth certificate

•  Student ID (for minor applicants who are still in school)

Please note that the rules may change over time. If you have any query or clarification needed, we recommend visiting a Cebuana branch nearest you and ask about this new financial product. 

Start savings early. If traditional banking institutions make it difficult for you to open a savings account with their long-list of requirements and big opening amount, then we recommend applying for a micro-savings account in legit companies like Cebuana Lhuillier. Easy to comply lang ang requirements and maliit na halagang lang, you can start mag-ipon.

Don’t let your money stay in alkansya lang. Go to a branch of Cebuana and open a micro-savings account today!

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