Trust Bank Upgrades Loan Service With 60-Second Approvals, Flexi Repayments – Fintech Singapore

Singapore’s digital bank Trust has upgraded its Instant Loan service, enabling existing credit cardholders to secure loans in about 60 seconds through a three-click process in the app. This update is part of the company’s efforts to streamline its loan approval procedures.

Since its launch last July, the Trust Instant Loan has incorporated customer feedback, leading to several new features. Current updates include more competitive interest rates, starting at 2.87% per annum (Effective Interest Rate from 5.41% per annum).

The application process has been simplified for all customers as new Trust customers can complete the process in approximately three minutes. The revised process eliminates the need for uploading documents, waiting periods, and processing fees.

In addition to speed, Trust has focused on flexibility in its loan service. Customers can select their repayment dates, choose loan tenures in months, and adjust credit limits via the app.

Hasan Khan

Hasan Khan, Head of Credit Card & Lending at Trust said,

“Flexible finance is something that makes a big difference to our customers.

So we’re delighted to launch a new and enhanced version of Instant Loan, giving them greater flexibility and an incredibly quick and simple experience as they budget to meet their goals.”

Dwaipayan Sadhu

Dwaipayan Sadhu, Chief Executive Officer of Trust said,

“With this launch, Trust’s range of products and services has expanded to now include loans, credit and debit cards, savings, insurance, rewards and personal financial management.

We designed and built this wide range of innovative and easy-to-use solutions around our customers’ needs.”

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• Source: https://fintechnews.sg/83842/virtual-banking/trust-bank-upgrades-loan-service-with-60-second-approvals-flexi-repayments/