In a move that combines innovation with financial inclusion, UnionBank has introduced its newest offering, the “iPhone Saver” program. This initiative is designed to make premium Apple devices more accessible to Filipinos while helping them establish and strengthen their financial habits.
Speaking at the program launch, Mukul Sukhani, executive vice president and head of cards and consumer loans at UnionBank, shared the inspiration behind the concept. “The Apple team threw a challenge at us… ‘Can you really make Apple products on installment at true zero?’” he said. “And the UB team is one that is always excited by challenges… so we took on that challenge.”
This collaboration has led to a series of installment offerings that gained traction over time. As the partnership evolved, Apple shared global best practices that eventually helped shape the iPhone Saver program.
Simplifying Device Ownership While Supporting Financial Growth
At its core, the iPhone Saver program is built to be simple, accessible, and supportive of customers’ broader financial journey. Sukhani emphasized the program’s dual purpose, saying, “What it does to the customers is it builds their financial journey — that’s the beauty, fundamentally, of the program.”
The program combines a digital savings mechanism with a pathway to credit. Users begin by opening a fully online savings account. They then set a goal for a desired iPhone model and save consistently through the UnionBank app while tracking their progress.
Once the savings target is reached, the accumulated amount serves as a security deposit for a secured credit card, which is automatically granted without a separate application. This card offers key benefits such as 0 percent installment plans, extended payment terms, and partner discounts at popular retailers like Digital Walker and Beyond the Box.
Additional Perks and Credit Opportunities
Beyond device ownership, the iPhone Saver program provides users with a range of incentives. These include guaranteed card approval, cashback rewards tied to savings progress, and the opportunity to graduate to a regular credit card with responsible usage over time.
By linking savings to credit access, the program not only encourages disciplined financial behavior but also addresses gaps in financial inclusion in the Philippines. Sukhani explained, “Only 30 percent of Filipinos actually have a savings account, and only 15 percent… have access to credit.” Through a fully digital onboarding system, the iPhone Saver program expands access to both savings and responsible credit.
Fully Digital Onboarding for Accessibility
UnionBank’s iPhone Saver program can be accessed from anywhere, thanks to its fully online setup. Customers can open accounts, save, and gain credit access without visiting a physical branch. “We have a best-in-class onboarding journey, which is 100 percent digital, 100 percent seamless,” Sukhani added.
The combination of digital accessibility and structured savings ensures that more Filipinos can participate in the program, making premium Apple devices more attainable while simultaneously building financial literacy and credit history.
Optimistic Outlook for the Philippines
As the iPhone Saver program rolls out nationwide, UnionBank remains optimistic about its impact. The initiative not only drives device ownership but also broadens access to formal financial services, helping more Filipinos engage responsibly with both savings and credit.
By integrating technology, financial education, and incentives, UnionBank’s program sets a new standard for how banks can foster financial inclusion while meeting consumer demand for premium devices.
