TNG Digital has added GXBank’s FlexiCredit revolving credit line to CashLoan in the TNG eWallet, expanding the financing products available through its GOfinance service in Malaysia.
The companies said eligible TNG eWallet users can apply inside the e-wallet without first opening a separate GXBank savings account. The arrangement combines TNG Digital’s consumer platform with credit provided by the regulated digital bank.
A revolving credit option
FlexiCredit differs from a conventional personal loan because an approved user receives a credit limit that can be drawn down when needed. As the customer repays the borrowed amount, the available limit replenishes.
According to the companies’ announcement, the product offers credit limits of up to MYR 150,000 and repayment terms ranging from six to 60 months. Advertised flat interest rates start at 3.78 percent a year, equivalent to an effective interest rate starting at 6.45 percent a year. Actual approval, limits and rates depend on GXBank’s assessment of each applicant.
The companies said the application does not require lengthy paperwork and can be approved within minutes for some users. Those performance claims were not independently verified and should not be read as a guarantee for every applicant.
The new option sits within CashLoan, which is part of TNG eWallet’s GOfinance hub. The hub brings together products covering lending, investments, insurance and remittances from multiple financial institutions.
More lenders inside the e-wallet
TNG Digital has been expanding GOfinance through partnerships rather than relying on a single financial institution. The company previously integrated consumer lending from Alliance Bank Malaysia and launched a separate business-financing service with CIMB.
GXBank is Malaysia’s first licensed digital bank. It is a subsidiary of GXS Bank, the digital banking joint venture backed by Grab and Singapore Telecommunications, and also has Malaysian investors including Kuok Group.
The bank says it serves more than one million Malaysians. Deposits held with GXBank are protected by Perbadanan Insurans Deposit Malaysia up to the applicable MYR 250,000 limit per depositor, although FlexiCredit itself is a credit product rather than a deposit.
TNG Digital said TNG eWallet has more than 27 million verified users and over two million merchant touchpoints. These are company figures and do not indicate how many customers are eligible for, or are expected to use, the new credit line.
The addition supports TNG Digital’s effort to turn its e-wallet into a broader financial-services distribution platform. For GXBank, it creates an acquisition channel that reaches users in an app they already use for payments and other services.
The companies did not disclose revenue-sharing terms, expected loan volumes, default assumptions or the eligibility criteria applied through the TNG eWallet channel. Prospective borrowers should review the product disclosure, total repayment cost and applicable terms before drawing down funds.
TNG Digital partners Alliance Bank Malaysia to enhance lending options within GOfinance