CIMB, Frasers Property to offer SG’s first ‘pay-as-you-earn’ loan

Benefits include first-year savings of up to $7,360 and annual savings of up to $6,360.

CIMB Singapore and Frasers Property announced a five-year partnership agreement on Singapore’s first "pay-as-you-earn" small and medium-sized enterprises loan.

The collaboration offers CIMB FlexiPay, extending financial solutions and preferential rates to over 2,000 retailers across 12 Frasers Property malls.

It will also introduce CIMB BizGrow, a collateral-free working capital loan with preferential rates for retail tenants.

Benefits include first-year savings of up to $7,360 and annual savings of up to $6,360 thereafter for participating retailers, achieved through zero fees for payment terminals and account setup.