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GXS Help Centre

What is Balance Transfer?

Balance Transfer is one of the loan types that you can draw from GXS FlexiLoan.

Balance Transfer might be the loan for you if these are your needs:

  • Conserve cash by making smaller repayments each month over a shorter period. Minimum monthly repayment could be as low as 1% of your loan principal (or at such other rate as stipulated by the bank)
  • Select a loan tenure of 4 - 12 months (as assigned by the bank) and repay the remaining outstanding only at the end of the tenure
  • Enjoy 0% interest with a one-time processing fee (EIR 4.13% p.a.)

Do note that you can draw a Balance Transfer only once, unless otherwise allocated by the bank.

Possible uses: Support your financial goals, emergencies, short-term business cash-flow cycles, managing multiple outstanding balances with a single facility etc.

*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.

Illustration of a Balance Transfer loan, terms below may defer:

Loan principal: S$10,000
Selected tenure: 4 months
Processing Fee: 1.35%
Minimum monthly due: 1%

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