To urge more Filipinos to save up for their future, Cebuana Lhuillier, one of the country’s top micro financial institutions, is offering three exciting promos for its new and existing micro savings clients that will run until July 31, 2022.
“Cebuana Lhuillier Micro Savings provided ordinary Filipinos with the opportunity to save for their future, and has proved to be essential to many of our kababayans during the intense lockdown periods at the height of the pandemic. Now that we are in the process of rebuilding, I encourage our Ka-Cebuanas to start saving once again. Truly, the mark of a financially-included Filipino is one that can be assured of a nest egg—no matter how small—that they can use for the rainy days,” Cebuana Lhuillier president & CEO Jean Henri Lhuillier said.
Since its launch in 2019, Cebuana Lhuillier Micro Savings has made a difference in the lives of its clients, by making it easy for majority of Filipinos to save money without the usual pain points in opening a bank account. A product of Cebuana Lhuillier Bank and made available nationwide by cash agent Cebuana Lhuillier, Micro Savings enabled clients to open a bank account with just fifty pesos and one valid ID.
Three years after its launch, Cebuana Lhuillier Micro Savings has gained close to 6 million account holders, and has served as a valuable resource for Filipinos who relied on the money they have saved in order to survive at the height of the pandemic.
However, despite the growth in number of savings account holders, majority of Filipinos remain unbanked. In fact in 2020, only 25% of households had any form of savings, most of which are from high-and-middle-income groups.