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Micro Savings Accounts: How Do They Help Low-Income Families and Individuals?

Fifty, one hundred, five hundred, and one thousand Philippine peso bills with a plain gray background


As a third-world country, the Philippines has a high rate of poverty. Much of the population falls in the lower-middle class bracket, and their earnings are insufficient to meet a family’s needs, much less keep savings. According to the Bangko Sentral ng Pilipinas (BSP), over 63% of the country’s working adults don’t have any savings as of 2021. This translates to a total of 48.3 million Filipinos who have no secure finances for the future.


Despite not having savings, many Filipino adults still recognize the importance of keeping enough funds for the future. However, the exorbitant bank fees, high minimum deposits, and sky-high maintaining balances keep them from opening a savings account. In short, most low-income Filipinos find banking too expensive to keep up with.

As a financial institution created for ordinary Filipinos, Cebuana Lhuillier recognizes the need and the challenge for low-income families to have a savings account. This is why we created the Cebuana Lhuillier Micro Savings account to help people overcome their banking woes and save for a brighter future.


Cebuana Lhuillier Micro Savings has a minimum deposit of ₱50. There is no minimum maintaining balance, so you don’t have to worry about bank charges for going below a certain amount. This makes it easier for you to save money without feeling any pressure from the bank. Start saving today and open your Micro Savings account through the app or any of our branches!


Reasons To Start Saving Money Today

Most, if not all, adults know that saving money is an important step in having a secure financial future, but another big reason to save is for security and peace of mind. Life is full of uncertainties, and your savings can provide you with a backstop against unexpected events. Having enough savings can let you live a stress-free life with the knowledge that you will not suffer in case things take a different direction from what you are expecting.

In addition to this, savings can also bring you a sense of fulfillment and a chance to achieve your dreams. Having savings means your efforts in working are not futile and all your hard work is leading you towards a goal in the future. No matter if it’s a house, a car, or your family, savings can ensure that you are at least a step closer to funding your dreams into reality.


Benefits of Micro Savings Accounts to Low-Income Earners

Micro Savings accounts are created for the sole purpose of bringing bank accessibility and opportunity to low-income individuals. Discover below some of the benefits of a Micro Savings account for low-income Filipinos.


Promotes Financial Inclusion

BSP defines Micro Savings or micro deposit as bank accounts designed to accommodate the needs of the low-income sector. This means that the usual barriers faced by the poor are not present in this account.

Without the dormancy charges, high maintaining balances, and other bank fees, the banking rights of low-income individuals will no longer be compromised. Everyone, even the poor, can now practice saving money and benefit from the ease of banking through Micro Savings.


Encourages Savings Culture

A lot of people recognize the importance of saving, but not all of them feel encouraged to do so due to the high requirements from the banks. Micro Savings keeps all the requirements to a minimum and even removes barriers like maintaining balance and fees to encourage people to save money.

There are even accounts like the Cebuana Lhuillier Micro Savings that allow children as young as 7 years old to open their own accounts and start saving. This is the perfect opportunity for parents to teach their kids how to save for the future. With the low minimum deposit in Cebuana Lhuillier Micro Savings, children and low-income earners can now freely save without worries.


Makes Banking More Convenient

Micro Savings accounts make saving more convenient for low-income earners. With the absence of maintaining balance, you no longer have to worry about withdrawing your cash in case of emergency and getting charged fees for going below a certain amount. You now have more freedom with your finances.

Additionally, the low minimum deposit, like the one in Cebuana Lhuillier Micro Savings, can also give you the confidence to save regardless of the amount. There is no shame in depositing any amount that is free from your budget. Plus, the requirements to open an account are easily attainable.


Start Saving Today With Cebuana Lhuillier!

Cebuana Lhuillier, one of the Philippines’ most trusted financial services providers, offers every Filipino a chance to save for their future through Micro Savings. We designed this service to bring you ease and convenience in banking.

Enjoy no maintaining balance, no dormancy fees, no deposit fees, minimal requirements, competitive interest rates, and low minimum deposit in Cebuana Lhuillier Micro Savings. As you grow more secure with your finances, you can even get a Cebuana Lhuillier Micro Savings upgrade and turn your account into a Cebuana Lhuillier savings account for higher interest rates.

For maximum convenience, we recommend downloading the eCebuana app for your online banking needs. The app gives you information about your current balance, recent transactions, your Cebuana Lhuillier Micro Savings account number, and other personal information.



For low-income Filipinos, opening a savings account seems like something only rich people can do. The extensive requirements, fees, and balances required by banks prevent low-income earners from saving. With Micro Savings accounts now in the picture, this will no longer be an issue.

Low-income earners can now freely enjoy the convenience of banking combined with its benefits through Micro Savings accounts. Don’t miss out on the opportunity to build your future and security through savings, and open your Cebuana Lhuillier Micro Savings account today!

Cebuana Lhuillier Micro Savings is a product of Cebuana Lhuillier Rural Bank. Deposits are insured by PDIC up to P500,000 per depositor. Regulated by the Bangko Sentral ng Pilipinas with contact number (02) 8708-7087 and email address con[email protected]. A Proud Member of BancNet and UnionPay.