GXBank Celebrates Anniversary With Launch Of FlexiCredit Line, Biz Banking And More

GXBank celebrated their anniversary yesterday (5th November 2024) and announced a few key product rollouts that customers can expect to see starting from now.

In the opening speech at the event, GXBank’s CEO, Pei Si Lai stated that GXBank has already accumulated close to one million users. Collectively these users have made more than 24 million transactions and set up more than 900,000 Savings Pockets.

In celebration of their anniversary, GXBank also announced three new products that will further underscore their commitment to helping Malaysians in their financial journey.

Changing the way Malaysians borrow

The first product unveiled by GXBank is the GX FlexiCredit, a credit line facility that will help Malaysians get instant disbursement of money whenever they want. 

With the GX FlexiCredit, eligible Malaysians who meet the necessary requirements can get instant approval of up to RM150,000 credit limit within minutes and disbursement. This means customers have the flexibility of getting immediate cash drawdown (with interest only on the drawdown amount) with zero fees if they choose to settle repayment early.

GXBank also took the opportunity to announce the rollout of GX Biz Banking, a one-stop solution for the business community to open an account and have a more convenient access to financing support.

Similar to GXBank’s retail 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. If qualified, they will receive instant approval for a credit line of up to RM150,000. Business owners will also have the option of a flexible loan tenure up to three years, and the flexibility to make early repayments without any additional fee or interest.

GX Biz Account is slated to be available for small businesses across Malaysia by the first quarter of 2025.

Elevating Malaysia’s future tech entrepreneurs

During the event, GXBank also announced the launch of TeXnovasi by GXBank and Grab Malaysia. This accelerator programme is aimed at elevating the Malaysian tech startup scene through public-private partnerships. 

Businesses enrolled with TeXnovasi will be provided with personalised mentorship from industry leaders. They will participate in 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.

Other announcements made

During the event, Pei Si also took the time to announce several other new features as well, such as the GXBank debit card refresh.

The GXBank debit card refresh will see the GXBank debit card offer new features such as;

Cashback

• Unlimited instant cashback on all spending
• 1.5x GrabRewards when spending at Jaya Grocer

Travel

• 1% cashback on all in-store overseas spending
• zero markups on exchange rates
• Zero fees for overseas ATM withdrawals
• Zero fees on overseas transactions
• 3x GrabRewards on Overseas Grab spending

No additional fees charged

• Zero fees for MEPS ATM cash withdrawals
• Zero annual fees
• Zero card issuance fees

However, GXBank also confirmed that GXBank will be scaling back their cashback reward. To be more sustainable, it will be scaled down from 1% to 0.1% for all spending domestically.

Pei Si also took the time to unveil GXBank’s new chatbot, lovingly dubbed AIni to better serve their customers.

If you want to find out more about GXBank’s exciting new offerings, you can go to their website for more information.