Cebuana Lhuillier in the Philippines
The Cebuana Lhuillier Pawnshop is a popular pawnshop and money-transfer service in the Philippines with at least 1,500 branches nationwide. But the service has its humble beginning back in 1935 when it was still known as Agencia Cebuana.
Cebuana Lhuillier History
Cebuana Lhuillier was established by a French consul Henry Lhuillier in the province of Cebu. Based on historical accounts, it appears that Agencia Cebuana has merely stayed local at least until the 70’s and 80’s when it really began to start extending its branches into Metro Manila. It was only in 1987 when Agencia Cebuana was renamed Cebuana Lhuillier. At this point, Philippe Jones Lhuillier got into politics in 1998 and was appointed Philippine Ambassador to Italy while his son Jean Henri Lhuillier headed the company.
As technology is advancing and more types of transactions are becoming available, Jean Henri Lhuillier added other services like money-transfer, remittance, insurance, money changer, account remittance, and other collection services. To maintain customer loyalty, it is also the first among its peers to offer a 24k loyalty card program. So far this program has 5 million members as of 2014. Right now Cebuana Lhuillier can be found almost everywhere: in wet markets, malls, and even near university belts. Branches are found around different provinces and cities. They can be searched by simply typing the right keyword in Google like “Cebuana Lhuillier Antipolo”. Google Maps are one of the places to get a list of branches.
But money exchange and pawnshops aren’t the only businesses they are involved in. In order to promote their brand, they are also active in sports. They have teams in basketball, softball, and tennis. Its president Jean Henri Lhuillier is currently the manager of the Philippine Davis Cup Team. He is also the chairman of PhiTA or the Philippine Tennis Association. And if that’s not enough yet of a position to hold, he is also the president of the Amateur Softball Association of the Philippines. But of course, they are not the only one with sports teams; other companies from a wide variety of industries also have their own sports teams. So not only are they competing with their peers in business but also in sports.
Cebuana Lhuillier also has its foundation aimed at helping those who are in need like those affected by calamities. It carries out disaster relief operations and medical missions. It also has a scholarship program for an alternative learning system.
Cebuana Lhuillier Loan Requirements
In order to obtain loans, it has to be done via traditional pawning. For this, the applicant must have a valuable item to be pawned.
What items are accepted?
4. Electronic gadgets.
Aside from the items to be pawned, the applicant must also present a valid ID:
2. Voter’s ID;
3. Postal ID;
4. OFW ID;
5. Driver’s license;
6. OWWA ID;
7. Integrated Bar of the Philippines (IBP);
8. Government Service Insurance System GSIS e-card;
9. Social Security System (SSS) ID;
10. Senior Citizen Card;
11. Home Development Mutual Fund (HDMF ID);
13. Company ID;
14. Professional Regulation Commission (PRC) ID.
Other documents include:
1. Police clearance;
2. National Bureau of Investigation (NBI) clearance;
3. Barangay certification;
4. Seaman’s book;
5. Department of Social Welfare and Development (DSWD) Certification;
6. Alien Certification of Registration/Immigrant Certificate of Registration;
7. Certification from the National Council for the Welfare of Disabled Persons (NCWDP).
Cebuana Lhuillier branches that are open 24/7
Here is a list of some Cebuana Lhuillier 24 hours branches.
- Cebuana Lhuillier Makati branches
Pitogo – Makati Branch
Address: 15 Kalayaan Ave. Bo. Pitogo, Makati City
P. Burgos – Makati
Address: 5058 P. Burgos St., Makati city
Oplan Suyod Branch A, B, and C
Address: 1782 Candelaria St. corner N. Garcia St., Brgy. Valenzuela, Makati City, Metro Manila
- Cebuana Lhuillier Baguio branches
Address: 25 Abanao St., Brgy. Asco, Baguio City, Benguet
- Cebuana Lhuillier Davao branches
Address: Egger Building, Matina Crossing, Davao City
Cebuana Lhuillier operating hours vary depending on the location like those located inside malls or commercial buildings. Of course, if the commercial is only open for a certain number of hours then so are all the businesses inside. So make sure to check a list of Cebuana Lhuillier schedules online.
What is Cebuana Lhuillier Insurance?
What is Microinsurance?
This is an insurance program meant for minimum wage earners. In the event of an accident or death, medical or funeral expenses for the insured person can be covered. There are a variety of these programs under this category that applicants can choose from. For a single application, the insured can be covered for a certain length of time. An example is their ProtectMax Insurance for a low starting fee of PHP 50.00 or roughly $1.00, the applicant can be covered for up to 4 months. Depending on the type of emergency, the lowest amount that can be covered is PHP 1,000.00, and the highest being around PHP 25,000.
What is Cebuana Lhuillier Micro Savings?
This is a regular savings account that can hold any amount of money. Account holders can deposit and withdraw money anywhere at any time through Cebuana Lhuillier’s network of over 2,500 branches in all cities of the Philippines. This makes financial services even more accessible. Only 1 valid ID is needed to open such an account. The minimum initial deposit is Php 50 and the maximum possible balance in the account is Php 50,000. The minimum balance to receive interest is 500 pesos and the annual interest rate is 0.30%.Apply now
Pawnshop Loan vs Online Loan
A pawn shop loan is a special type of loan that will require you to submit an item of significant value such as a gadget or jewelry. The amount of money you will get will also depend on the evaluated monetary value of the object you wish to pawn. The more cash you need the more valuable item you need to pawn. In some cases, you might have to pawn multiple items. They will evaluate the item and the estimated value will typically be lower than the item’s original price. It’s like selling them a second hand item. Once they determine the value and you agree to it, you can get the cash you need.
Now, to get it back, you will have to pay for the item, essentially buying it back, but at a higher price because they added interest. Depending on the loan terms, you may pay a high amount that’s why it’s always a good idea to pay back as soon as possible. You may also lose the item if you don’t pay after a given amount of time or depending on the agreement. Cebuana Lhuillier offers this service, you can read more about Cebuana Lhuillier rates on their website.
Online loans, on the other hand, are different but may be much easier and less risky on the part of the borrower since there is no collateral required, but this depends on the service if they require it. But why should you choose an online loan service?
For starters, online loans are faster to process especially if they have a website you can visit. You also don’t have to deposit a physical object at any of their branches, which is another hassle if you are in a hurry. Of course, not everyone wants to just trade anything of significance, especially if it’s something with a sentimental value. So online loans are a lot more versatile in this regard.
Online Loan in Robocash
Robocash is a money lending service that provides borrowers small loans. For those who are borrowing for the first time, they can loan as high as PHP 10,000.00 with a daily interest of 0%. Loan term is possible from 7 to 15 days. This amount is just perfect for paying bills or for starting a very small business, especially in today’s economic and health climate which is rather uncertain.
Repeat borrowers can borrow up to PHP 25,000.00 for a period of up to 30 days, with a daily interest of 1.5%. Robocash does not require a deposit of valuables, guarantors and references from the workplace. Even if you are a freelancer you can get a loan. It is advisable that any amount borrowed must be repaid as soon as possible to avoid incurring penalties.
Who is qualified to borrow from Robocash?
Borrowers must be Filipino citizens, within 21 to 70 years of age, and must possess the proper documents such as government-issued IDs. For retired applicants, they must have another source of income aside from a monthly pension. It is also necessary to have citizenship of the Philippines and a permanent address in the Philippines. In addition, you need an ID and a working cell phone.
Due to the pandemic, looking for a stable job or running a business steadily can be difficult. New alternative sources of income must be explored in order to pay the bills and most of them can be found online. Many brick-and-mortar stores that haven’t closed made a quick transition in carrying out their businesses over the Internet. Many governments around the world are also encouraging monetary transactions to be done online if possible in order to reduce the chances of being infected by the COVID-19 virus.
Of course, pandemic isn’t the only cause for concern as many natural disasters are also happening frequently. But what’s great about having services like Cebuana or Robocash is their role as buffers since big banks can’t be expected to address covering loans and other financial services. One of the advantages of loaning from Robocash is that you do not risk your property and valuables. After all, Robocash does not require collateral, so taking a loan here is much easier.Apply now
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