Cebuana Lhuillier launches Micro Savings to bridge gap
Cebuana Lhuillier recently unveiled a new platform that will help many Filipinos overcome the barriers toward financial inclusion and financial freedom. The newly-introduced Cebuana Lhuillier Micro Savings is a more affordable and convenient means that allows account holders to save money. In a study shared by the Bangko Sentral ng Pilipinas (BSP) during the launch of the Cebuana Lhuillier Micro Savings themed “#KayaNa: Unbanked Filipinos No More Movement,” it was revealed that only 33% or 553 out of 1,634 cities and municipalities in the Philippines have access to banking institutions. Worsening the situation is that, whether these facilities are present or absent, many Filipinos remain unbanked because of the factors associated with opening a savings account such as numerous documentary requirements and high cost of initial deposit, maintaining balance, and dormancy charges. With the Cebuana Lhuillier Micro Savings, opening an account is simpler and more affordable. The process re
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