Targeted at gig workers, entrepreneurs and those new to the workforce, FlexiLoan’s interest rates start from 3.8% per annum (p.a.), depending on credit risk assessments.
GXS Bank (GXS), the digital bank backed by Grab and Singapore Telecommunications (Singtel), launched GXS FlexiLoan, its first unsecured credit product, late last month. This follows the launch of its savings account in August 2022.
The public launch of this service means GXS is for now pulling ahead of MariBank, the other digital full bank (DFB) licence holder. For now, the Sea-backed digital bank is onboarding customers “by invite only”.
