CIMB Bank and Lazada Philippines have launched an all-digital LazSave savings account, fully enabled on the Lazada app.
This first-of-its-kind ‘save and pay’ account is integrated into the Lazada app, allowing users to open and manage their savings directly from a smartphone, eliminating the need to visit a physical bank branch. The product has no initial deposit or minimum balance required, making it accessible to everyone.
LazSave also offers Lazada users a 1% rebate with no cap on all Lazada purchases made using the account. Additionally, account holders will earn a 5% interest rate per annum on their savings during the introductory period.
This partnership builds upon the existing collaboration between the two companies established earlier in 2024. Back then, CIMB powered Lazada’s flagship buy-now-pay-later (BNPL) product, LazPayLater.
How to open a LazSave account
The entire process of opening a LazSave account takes less than 10 minutes and can be completed entirely within the Lazada app.
All you need is a valid Philippine government-issued ID and an existing Lazada account. Navigate to the Lazada Wallet tab and tap the LazSave by CIMB icon to begin.
For more information on LazSave and how to open your account, visit cimbbank.com.ph/lazsave.
