TNG Digital has added GXBank’s FlexiCredit revolving credit line to its CashLoan service, letting eligible TNG eWallet users in Malaysia apply for financing without first opening a separate GXBank savings account. The move expands TNG eWallet’s GOfinance hub into a broader distribution channel for regulated digital bank credit, offering limits of up to RM150,000 with flat interest rates starting at 3.78% per annum.
Key Facts At A Glance
- FlexiCredit is now accessible through TNG eWallet’s CashLoan service, part of the GOfinance hub
- Credit limits go up to RM150,000, structured as a revolving line rather than a fixed lump-sum loan
- Flat interest rates start from 3.78% per annum, equivalent to an effective interest rate of about 6.45% per annum
- Repayment terms range from six to 60 months
- Eligible applicants are Malaysian citizens aged 21 to 64 earning a minimum gross income of RM1,500 a month, or RM18,000 annually
- TNG eWallet reports more than 27 million verified users and over two million merchant touchpoints
- GXBank is Malaysia’s first licensed digital bank, backed by Grab, Singapore Telecommunications, and Malaysian investors including Kuok Group
Malaysia’s TNG Digital has integrated GXBank’s FlexiCredit product into CashLoan, a lending feature within TNG eWallet’s GOfinance hub, which already brings together lending, investment, insurance, and remittance products from multiple financial institutions. The integration allows eligible users to apply for the credit facility directly inside the e-wallet app they already use for payments, without needing to open a standalone GXBank account first.
FlexiCredit is structured as a revolving credit line rather than a conventional personal loan. Once approved, a user receives a credit limit that can be drawn down as needed, and the available limit replenishes as repayments are made. Users do not need to reapply each time they draw funds. Advertised flat interest rates start at 3.78% per annum, translating to an effective interest rate of roughly 6.45% per annum, with repayment periods ranging from six to 60 months. Actual approval, credit limits, and rates depend on GXBank’s assessment of individual applicants.
To qualify, applicants must be Malaysian citizens holding a valid MyKad, aged between 21 and 64, and either salaried or self-employed with a minimum gross income of RM1,500 monthly or RM18,000 annually. Applicants also need a fully verified TNG eWallet account, with supporting documentation such as an EPF statement or recent bank statements requested depending on employment status. The application process is completed digitally within the app.
GXBank Chief Executive Officer Kaushik Chowdhury said FlexiCredit is designed to change who can access regulated credit by removing traditional hurdles such as lengthy approval procedures and mandatory separate bank accounts, allowing more Malaysians to manage emergency cash flow and larger purchases. TNG Digital framed the integration as part of a broader open-platform strategy intended to bring financial products from partners like GXBank within easier reach of its user base.
The addition follows a pattern of TNG Digital expanding GOfinance through multiple partnerships rather than a single financial institution, having previously integrated consumer lending from Alliance Bank Malaysia and a separate business-financing service with CIMB. For GXBank, the tie-up creates an acquisition channel reaching users inside an app many Malaysians already use daily. The companies did not disclose revenue-sharing terms, expected loan volumes, or default assumptions tied to the arrangement.