Today, GXBank celebrates its first anniversary by unveiling the latest financial products for Malaysians and MSMEs. In its inaugural ‘GX 2.0 - Next Starts Now’, the digital bank company launches TeXnovasi and GXFlexiCredit. Here's everything you need to know about it.
Starting with GX FlexiCredit, this new feature will roll out progressively from November 2024 onwards to Malaysians. Eligible Malaysians who meet the requirements can get instant approval of up to RM150,000 credit limit within minutes and disbursement. This feature can help customers with the flexibility of getting immediate cash drawdown (with interest only on the drawdown amount) with zero fees if they choose to settle repayment early.
Additionally, in line with the government's Belanjawan Madani 2025 intent to help close the financing gap for MSMEs, GXBank’s GX Biz Banking aims to be a one-stop solution for the business community to open an account and have more convenient access to financing support. Similarly to a retail GX Account, GX Biz Account offers the first fully digital onboarding for businesses and daily interest payouts. With GX Biz Account, micro-entrepreneurs can seamlessly apply for the GX Biz FlexiLoan via the app and if qualified, receive instant approval for a credit line of up to RM150,000.
Business owners will also have the option of a flexible loan tenure of up to three years, and the flexibility to make early repayments without any additional fee or interest. Beginning with merchants in Grab Malaysia’s ecosystem, GXBank aims to roll out GX Biz Banking to small businesses across Malaysia by the first quarter of 2025.
On the other hand, TeXnovasi is a collaborative effort between GXBank and Grab Malaysia and is supported by Cradle Fund Sdn Bhd (Cradle), MYStartup and 1337 Ventures. This initiative's goal aim is to build an inclusive and sustainable tech-based entrepreneurship ecosystem in Malaysia.
The programme will provide personalised mentorship from industry leaders, alongside expert-led workshops on innovation, market entry, and securing investment. Local startups who are passionate about creating impactful solutions to address Malaysia’s financial needs can apply to be part of the accelerator programme via the GXBank website.
In other news, GXBank also made a couple of announcements:
- The GX Debit Card with unlimited instant cashback on all spending continues, including overseas with 1% cashback. However, you will only get 0.1% cashback locally.
- Zero fees and markups on exchange rates, overseas ATM cash withdrawals and transactions, as well as zero fees for MEPS ATM cash withdrawals, annual fees and card issuance.
- 1.5x GrabRewards on Jaya Grocer and 3x GrabRewards on overseas Grab spending.
- Exclusive badges unlock based on your GXBank activities.
- #GXWrapped review on how you used GXBank.
Present at the event were also partners such as Grab Malaysia, Jaya Grocer, Moomoo, PayNet and Shopback who will be offering customised deals and promotions for customers in the coming months. Stay tuned for more trending tech news at TechNave.com.
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