TNG Digital is partnering with GXBank by Grab to offer loan service to millions of TNG eWallet customers as both digital fintech firms collaborate for the first time.
GXBank will offer eWallet users financing without opening a new bank account. The underbanked with limited credit history, the barrier to financing is not only eligibility, but also by the extra steps required to apply. GXBank’s FlexiCredit removes these barriers by allowing TNG eWallet users to apply through CashLoan without opening a separate Current Account Savings Account (CASA), bringing regulated financing within reach by combining a platform they use daily with a digital bank they trust.
Desmond Teoh, Chief Financial Services Officer of TNG Digital, said, “TNG eWallet started as a way to pay. Today it is where millions of Malaysians manage their everyday financial lives, and that carries a responsibility to go beyond payments. Our open platform strategy is about bringing the best financial solutions, from trusted partners like GXBank, within easy reach of everyone.
Real financial inclusion happens when institutions come together to meet Malaysians where they already are.”
As a revolving credit line, GXBank’s FlexiCredit works differently from a conventional loan. Instead of reapplying each time, users are granted a credit limit they can drawdown whenever an emergency or everyday need arises. As funds are repaid, the credit limit instantly replenishes, supporting responsible borrowing that matches a user’s cash flow. FlexiCredit offers limits of up to RM150,000, repayment tenures of 6 to 60 months, and competitive flat interest rates from 3.78% p.a. (EIR 6.45% p.a.).
