GXS Bank launches instant personal loan solution in Singapore

By Leandra Monteiro

GXS Bank launched the GXS FlexiLoan, a personal loan designed to address the pain points that individuals face when taking up a loan and bridging the gaps that hinder access to credit.

The GXS FlexiLoan is the first unsecured term loan offered by a bank in Singapore that enables customers to pay off their loan partially or in full without any early repayment fees and with the additional perk of interest savings.

Charles Wong, CEO of GXS Bank, said, “With the launch of the GXS FlexiLoan, we are turning the spotlight on the barriers and hindrances in unsecured loan products that hold individuals back from stretching towards their goals. We are excited about how we can make banking better for Singapore’s consumers and small businesses through our technology build. Over the coming months, expect to enjoy consistent enhancements to the GXS experience as we refine our existing products based on our customers’ feedback and usage behaviours and launch new solutions to tackle existing banking problems.”

The GXS FlexiLoan gives consumers control and flexibility to manage their finances by bringing together features of a credit line and a personal instalment loan. GXS FlexiLoan customers can also make multiple loan drawdowns from their credit line without having to go through underwriting and approval each time. They can choose repayment terms that are most convenient for them, such as choosing a monthly repayment date that is aligned with when their salary is credited.