GXS FlexiLoan Balance Transfer: Instant cash at 0% interest

June 4, 2024
Benjamin Lam
GXS FlexiLoan Balance Transfer: Instant cash at 0% interest

GXS FlexiLoan Balance Transfer: Instant cash at 0% interest

GXS did it again in its effort to make everyday financial products better for consumers. This time they are doing it with GXS FlexiLoan Balance Transfer, another way of borowing in addition to their instalment loan. Read our previous review of the GXS FlexiLoan Instalment Loan here.

GXS FlexiLoan Balance Transfer is a personal loan where you can draw instant cash at 0% from your available credit line for a tenure of between 4 to 12 months, and you only need to pay a low one-time processing fee and low repayments every month. Unlike an instalment loan, you get to manage your cash flow by making smaller monthly repayments, paying off the remaining balance only at the end of your tenure.

If you still do not understand how it works, here’s a quick example:

Loan Principal: S$10,000
Selected Tenor: 4 Months
Processing Fee: 1.35%
Minimum Monthly Due: 1%

Repayment Schedule

Repayment Schedule
Month Repayment Amount
0 S$9,865 disbursed to you
1 S$100
2 S$100
3 S$100
4 S$9,700
*Terms may vary

GXS is a homegrown digital bank proudly backed by Grab and Singtel. The GXS FlexiLoan is provided by GXS. GXS holds a banking licence and is regulated by the Monetary Authority of Singapore

Here's how we think GXS FlexiLoan Balance Transfer is winning it for us.

1. Zero Interest, One-time Low Processing Fee

While zero interest is rather standard in the industry, what really stands out is the lower processing fee that GXS is charging compared to the other banks. Here’s a quick table comparing the balance transfer rates between UOB, OCBC, and DBS with GXS, published as of 28 May 2024. You can see that the rates are significantly lower. Though it is worth noting that, as we saw with the GXS FlexiLoan instalment loan, the other banks may catch up over time and lower their rates to match the competition.

2. Low Minimum Repayments Each Month from 1%

GXS FlexiLoan Balance Transfer offers low monthly repayment from as low as S$15, or 1% of your loan amount. With this, you are able to better manage your cashflow with more funds available for the things that matter right from the start and you can settle the full amount at the end of tenure. Here are some of the minimum repayment percentage:

3. Flexible amount and tenure

We also like how GXS FlexiLoan Balance Transfer offers the flexibility to choose your tenure and repayment date. Unlike major banks, which typically offer only 3, 6, 9, or 12 months, GXS allows you to choose from any month between 4 and 12 months and your preferred repayment date. This flexibility should be the standard, providing more options to customers. Additionally, you may also choose your desired loan amount up to your approved credit limit and minimum payment each month.

4. Fuss-free Application Process

As mentioned above, rates change, and eventually, banks converge on them to remain relevant. Also, rates do not make a bank digital; it is their processes that do. GXS really stands out in this segment. As you might know, balance transfers used to be tied to credit cards with many banks, such as DBS with their Cashline, UOB with their CashPlus, and OCBC with EasiCredit. Otherwise, you needed to apply for one of their credit cards, which required an annual call for a fee waiver.

GXS makes it so easy. Simply apply for GXS FlexiLoan on the GXS app, and it will assign you a credit line that you can apply to both your GXS FlexiLoan options. Simply choose between balance transfer or instalment loan, select the details like amount and tenor, and the funds can be transferred into your PayNow accounts within a minute. We found this process extremely easy.

Another advantage is that if you already have an instalment loan, GXS will align the repayments to the same date, making it an extremely seamless process.

Here are our top tips for using GXS FlexiLoan Balance Transfer:

1. Refinance Your Personal Loans or Credit Cards with Lower Interest Rates

Outstanding credit card interest rates can go upwards from 24%, but when you refinance with a GXS FlexiLoan Balance Transfer, you don't have to pay interest. Instead, you only pay a low one-time processing fee that results in significant savings.

2. Better Match Your Cash Flow Needs for Irregular Cash Flow Shortfalls (e.g., Investments, Purchasing Supplies, Prepayment for Claimable Items)

Of course, the real good use of a balance transfer is to better match your cash flow. Sometimes, when we borrow for a certain purpose, we might not get the returns that quickly within the next month to make the full instalment. As such, delaying the payment towards the end and just having to make a small minimum payment helps. Some good examples could be an investment into a business that might take a few months to generate some cash flow, buying supplies or inventory which could take months to turn into a product and convert into a sale, or even purchasing items that you know can be claimed through a grant a few months later. In those interim periods, it is unlikely that there will be sufficient matching cash flow to cover monthly instalments, which could create stress.

Hopefully, you are not confused, but we have prepared a quick table for your understanding.

Quick Compare: GXS FlexiLoan Balance Transfer vs Instalment Loan

How to apply:

If you are interested in applying for GXS FlexiLoan, you can download the GXS app and apply in app. Subsequently, you can choose between Balance Transfer and Instalment loan at your dashboard. Both will utilise your assigned credit limit. More information can be found at https://www.gxs.com.sg/flexiloan-balance-transfer


In conclusion, the GXS FlexiLoan Balance Transfer offers a highly competitive and flexible financial solution for managing cash flow and refinancing existing debts. With zero interest, low one-time processing fee, and minimal monthly repayments, GXS sets itself apart from traditional banks. The seamless application process through the GXS app and the wide variety of tenures provide customers with unparalleled convenience and flexibility. By leveraging the GXS FlexiLoan Balance Transfer, you can take control of your finances, save on interest costs, and better align your loan repayments with your cash flow needs. Whether you are looking to refinance high-interest credit card debt or manage irregular cash flow, GXS has created a product that truly meets the everyday financial needs of its customers.


GXS is a separate entity and is not associated with the businesses of Singtel, Grab Holdings, Lendingpot, and their respective related entities. The GXS FlexiLoan is provided by GXS. GXS holds a banking licence and is regulated by the Monetary Authority of Singapore.

¹ Effective Interest Rate (EIR) for Balance Transfer is calculated with an average loan amount of $10,000, with a 4-month repayment period, from 1 Jan 2024 and a minimum monthly due of 1% of loan principal.

Lendingpot is working on making your search for financial products an easy one. Apply on our platform for personal loans, business loans and mortgage refinancing to get access to exclusive rates with our partners. On top of that, we aim to bring you insights & reviews on the latest financial products available.

Benjamin Lam

Benjamin heads up Lendingpot with a background in all things SME. He was previously a commercial banker at Citi with experience in Relationship management, Credit Risk, Trade Operations and Corporate FX sales; and understands the difficulties SMEs face in this opaque world of SME financing.

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