Cebuana Lhuillier Micro Savings aims to provide easier banking access to Filipinos. The product is almost the same with any regular savings account in the philippines and doesn’t require a maintaning balance.

Filipino citizens as young as 7 years old are qualfied to open an account, which can be considered as a “kids savings” or “junior savings” account.

Product Details

Interest Rate Per Annum 0.30%
Minimum Balance to Earn Interest Php 500
Minimum Maintaining Balance None
Dormancy Period None
Maximum Account Balance Php 50,000
Deposit Amount Min. Php 50; Max Php 50,000
Withdrawal Amount Min. Php 100; Max Php 5,000
Deposit Fee FREE
Number of Allowed Withdrawals Per Day 3
Withdrawal Fee May be subject to rates
Requirements to Open An Account 1 valid government ID
24k Card Fee (For Non-24k Card Holder) Php 100

Requirements to open a Micro Savings account

  • Application form
  • 1 Valid Government ID
  • P50 minimum initial deposit

Who are qualified to open an account?

  • All Filipino citizens aged at least 7 years old

List of accepted Government/Valid IDs

  • Passport
  • Driver's License
  • Professional Regulation Commission (PRC) ID
  • National Bureau of Investigation (NBI) Clearance
  • Police Clearance
  • Postal ID
  • Voter's ID
  • Government Service Insurance System (GSIS) e-Card
  • Social Security System (SSS) ID
  • Senior Citizen’s ID
  • Overseas Workers Welfare Administration (OWWA) ID
  • OFW ID
  • Seaman's Book
  • Alien Certification of Registration (ACR)
  • Barangay Certificate or ID (with picture and signature)
  • Birth Certificate (applicable to minors only)
  • Firearm License
  • Immigrant Certificate of Registration
  • Marriage License
  • National Council for the Welfare of Disabled Persons
  • New TIN ID
  • Student ID
  • Alien Certification of Registration (ACR) / Immigrant Certificate of Registration
  • Government Office or Government Owned and Controlled Corporations (GOCC) ID (e.g. AFP ID, HDMF (Pag-ibig Fund) ID, etc.
  • Certification from the National Council for the Welfare of Disabled Persons (NCWDP)
  • Department of Social Welfare and Development (DSWD) Certification
  • Integrated Bar of the Philippines ID (IBP)
  • 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)

Deposits are insured by PDIC up to P500,000 per depositor.