CARD MRI introduces savings product for senior citizens

By JOSEPHINE M. RAMOS
March 21, 2024

SAN PABLO CITY – CARD MRI Banking Group launched its latest savings product – an exclusive savings account designed for senior citizens. The launching was held at CARD MRI Basement, Paulino Street, San Pablo City, Laguna on March 18, 2024.

CARD MRI Founder and Chairman Emeritus Dr. Jaime Aristotle Alip emphasized the importance of seniors to CARD MRI saying, "Many of CARD MRI clients are aged 60 and above, prompting us to consider additional means of securing their financial well-being, which is why we came up with a savings account exclusively for them. Through this initiative, we hope that our elderly clients continue to feel valued and supported just like how we have always been from the beginning."

How it started

During a visit to an Indian bank, Dr. Alip and several members of the management team witnessed the special attention given to senior citizens through exclusive banking products tailored to their needs. Inspired by this approach, they decided to create savings products aimed at meeting the basic financial needs of the elderly, allowing them to earn income through savings interest.

Tailored Solutions for our Senior Citizens

CARD Bank, Inc. offers the Magalang Term Deposit; CARD SME Bank provides My Wealth Savings; and CARD MRI Rizal Bank, Inc. offers the Gabay Ipon Term Deposit. Due to its exclusivity for senior citizens, its interest rate is higher compared to the regular time deposit rates of the CARD Banking Group.

The said savings product, requiring a minimum deposit of P10,000.00, is open to aged 60 and above.

In addition to term deposits, seniors have the option to open a regular savings account with My Life Savings at CARD SME Bank for a minimum deposit of P200.00, which offers a higher interest rate than iSave.

With a vision to strengthen financial security among older people, this event marks a significant milestone in CARD MRI’s commitment to serve diverse financial needs.

The launching was also graced by CARD MRI Managing Director Mr. Aristeo Dequito, CARD Bank President and CEO Ms. Marivic Austria, CARD SME Bank President and CEO Ms. Cynthia Baldeo, CARD RBI President and CEO Ms. Elma Valenzuela, Senior Advisers, CARD MRI key officers, staff, and clients.

During the event, CARD Bank client Leonida Jawili and CARD SME Bank client Luz Lalap expressed gratitude for the new savings product intended for senior citizens like themselves.

"As a senior citizen, this savings product is a great help for individuals like me who rely solely on pensions. It allows me to save money while also earning through its interest rate,” Leonida Jawili stated.

Meanwhile, Luz Lalap urges the elderly in her community to explore and learn more about the new savings product introduced by CARD MRI.