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Citibank Philippines launches savings account with free insurance

Citibank Philippines has introduced Citibank Savings Guard, a new savings account that comes with free life insurance.

The Citibank Savings Guard account gives free life insurance coverage (up to double the customer’s average daily account balance) to customers. The bank said that the higher the customer’s deposit, the higher the insurance coverage.

The account is available for both peso and dollar deposits. Clients who open a Peso Savings Guard Account can enjoy the free insurance offer starting with a balance of P100,000. The free life insurance coverage can go as high as P2 million.

For the Dollar Savings Guard Account, clients will be entitled to free insurance with a minimum balance of $2,000. The complimentary life insurance cover is up to $50,000.

Account holders will also be able to access their account at over 860,000 ATMs worldwide and pay bills online, over the phone or at an ATM.