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Cebuana Lhuillier Micro Savings: A Convenient Way to Save Money

Many Filipinos opted to save money at home because of banking fears especially when an ordinary account holder could not afford to maintain the transactions in financial institutions and the bank will take away every single centavo left because of dormancy charges.

After successfully created a bank account with numerous requirements and high initial deposit, the next problem for a customer is the maintaining balance which is usually not below P3,000 or depending on the bank’s policy.

Also, bank operations usually opens at 9:00AM and closes as late as 4:30 PM. What if you what to immediately deposit your hard-earned salary or withdraw more than P20,000 (usual allowable withdrawal amount for a day)?

That’s what Cebuana Lhuillier, one of the country’s leading microfinancial services company, is trying to solve when they recently unveiled the Cebuana Lhuillier Micro Savings, which will provide Filipinos with a more convenient and affordable means to save their hard-earned money.

Acting as a cash agent of the Cebuana Lhuillier Rural Bank (CLRB), micro savings is Cebuana Lhuillier’s platform for Filipinos to overcome the barriers to saving.

Opening a Cebuana Lhuillier Micro Savings account requires only one valid ID and a minimal Php 50 initial deposit. 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.

The 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.

Jean Henri Lhuillier, president & CEO of Cebuana Lhuillier

Jean Henri Lhuillier, president & CEO of Cebuana Lhuillier

“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.

Below are some frequently asked questions for Cebuana Lhuillier Micro Savings:

1.            What is a Cebuana Lhuillier Micro Savings account? Cebuana Lhuillier Micro Savings is an interest-bearing savings product owned by Cebuana Lhuillier Rural Bank (CLRB). It is a savings account that allows clients to save up to Php 50,000 which can be accessed through the 24k card. 

 2.          How did Cebuana Lhuillier Micro Savings come to be? Cebuana Lhuillier Micro Savings is Cebuana Lhuillier’s response to BSP’s call for financial inclusion. In 2018, the Bangko Sentral ng Pilipinas (BSP) released circular order 992 also known as the Basic Deposit Framework which eases the the process of opening a bank account. Through the circular, anyone can open a basic deposit account for less than Php100, with no maintaining balance and dormancy charges. 

 3.          Are Cebuana Lhuillier branches authorized to receive savings deposits? As an accredited cash agent of the Cebuana Lhuillier Rural Bank (CLRB), Cebuana Lhuillier branches are authorized to offer and receive Micro Savings deposits. Cebuana Lhuillier branches serving as cash agents are authorized third party service providers of the bank, according to circular no. 940 of the Bangko Sentral ng Pilipinas which details the guidelines on deposit and cash servicing outside of bank premises. 

 4.          Where can clients deposit and withdraw cash from their Micro Savings account?  In any of Cebuana Lhuillier’s close to 2,500 branches nationwide.

 5.          What are Cebuana Lhuillier branches’ operating hours?  Branches are open from Monday to Sunday. However, operating hours vary per branch. Visit for the complete list of branches and their respective operating hours.

 6.          What are the documents required to open a Cebuana Lhuillier Micro Savings account? You only need 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:

  1. Alien Certification Of Registration (ACR)
  2. Birth Certificate (Applicable to minors only)
  3. Barangay Certificate or ID (w/ picture and signature)
  4. Company ID
  5. Driver’s license
  6. Dswd certificate
  7. GOCC ID (Afp, HDMF-Pagibig, Philhealth etc)
  8. GSIS E-Card
  9. IBP (Integrated Bar Of The Philippines) 
  10. Immigrant Certificate Of Registration
  11. National Bureau Of Investigation (NBI) clearance
  12. Nat’l Council For The Welfare Of Disabled Persons
  13. OFW ID
  14. OWWA ID
  15. Passport
  16. Police clearance
  17. Postal ID
  18. Professional Regulation Commission (PRC) ID
  19. Seaman’s Book
  20. Senior Citizen’s ID
  21. Social Security System (SSS) ID
  22. Student ID
  23. Voter’s ID
  24. Firearm license
  25. Marriage license

 7.          What is the required minimum amount to open an account? A Php 50 initial deposit is the minimum amount needed to open an account.

 8.          Are there any transaction fees? There are no transaction fees for cash withdrawal and deposit.

 9.          What is the minimum amount of 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.

 10.        How many transactions are allowed per day?  Only three (3) successful transactions per card, per day are allowed. 

 11.         Is there an average daily maintaining balance? There is no required maintaining balance for this type of account.

 12.         How long does it take before an account is considered dormant? There is no dormancy charge for this type of account.

 13.        How long do I have to wait before my account is opened? An SMS notification will be sent to the account owner containing the bank account number and temporary PIN, activating the account in real time.

14.         Can I deposit or withdraw cash without my 24k Card? No. The 24k card is required for all Cebuana Lhuillier Micro Savings transactions.

15.         Can I open multiple accounts? No. A client can only have one Micro Savings account. 

16.         Does the  Micro Savings account earn interest?  Yes, the Cebuana Lhuillier Micro Savings account earns interest per annum if the account has an average daily balance of Php 500.

 17.         How safe is my cash deposit in my Cebuana Lhuillier Micro Savings account?  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).

 18.        What if I have further questions? You may contact Cebuana CARES team at or you may visit  Cebuana Lhuillier’s Facebook page at You may also send an SMS to the following numbers: 0917-8122737 (Globe and Viber), 0918-8122737 (Smart) or call the following hotlines: (02) 779-9800 (PLDT), and (02) 759-9800 (Globelines)

We wish to try Micro Savings, we opened accounts today!

An account holder must get Cebuana Lhuillier card first prior to application for Micro Savings. The card is worth P100.


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