Intellasia East Asia News – Grab combines its financial services under new brand GrabFin, launches investment product Earn+

    Southeast Asian fintech platform Grab Financial Group announced on Monday (May 23) that it will be launching a new brand GrabFin for its digital payments, insurance, lending and wealth management offerings, as well as an investment product for Singapore-based Grab users.

    GrabFin offers Grab users a “single entry point” to payment, investment and insurance services on its app, said the ride-hailing giant in a media release.

    “GrabFin also represents Grab’s commitment to empower Southeast Asia with greater financial access,” it added.

    The release also said that the brand will offer everyday financial services that are simple to activate, which are “fractionalised” so that more people can access them and flexible to allow consumers to choose how they use the products with no lock-in period.

    Head of GrabFin Kell Jay Lim said that access will be as simple as ordering a ride on the Grab app.

    “Our customised products offer consumers flexibility and GrabPay’s multi-layered security features let them transact with peace of mind,” he said.

    Following GrabFin’s launch in Singapore and Malaysia, the brand will be progressively rolled out in other Southeast Asian markets in the coming months.

    For Grab users in Singapore and Malaysia who have updated to the latest Grab app by the end of May, they will be able to use GrabFin on their apps, according to the company’s website.


    GrabFin is also introducing a new investment product, Earn+, which will be rolled out to all users in Singapore by the end of the week.

    Billed as a “low-risk investment product”, Grab said that it has a projected yield of 2 per cent to 2.5 per cent per annum with “better potential returns than most savings accounts when held over the short-to-medium term”.

    Earn+ users can start with a minimum investment of S$1, with no maximum investment limit or lock-in period. They can also withdraw funds to their GrabPay wallets instantly, or transfer the funds to their bank accounts at any time without incurring any penalties or early withdrawal charges.

    “Earn+ provides our users with access to low-risk, investment-grade bond portfolios, which were previously only available to institutional investors,” said head of GrabFin Singapore Wenbin Wong

    “In today’s volatile environment, it can be a good complement to our users’ investment portfolio as a low-risk investment option.”

    According to the release, Earn+ invests in “low-risk and well-diversified” mutual funds managed by Fullerton Fund Management and UOB Asset Management and is available to all users aged 18 and above.

    Grab users can access Earn+ by tapping on the “Invest” icon on the Grab app home page, selecting “Earn+” and selecting “Explore more” to learn more about the product.


    Category: Indonesia, Singapore

    Print This Post

    Source link


    Michel David-Weill, Influential Lazard Banker, Dies at 89

    Mr. David-Weill was sometimes referred to as the “Sun...

    N2 accident: 19 people injured in 13 vehicle pile-up in KZN

    A serious accident involving multiple vehicles on the N2...

    AS Terbangkan Pesawat Pengintai P-8A Poseidon di Atas Selat Taiwan –

    TRIBUNNEWS.COM - Amerika Serikat (AS) menerbangkan pesawat pengintai P-8A Poseidon Angkatan Laut-nya di atas Selat Taiwan pada Jumat (24/6/2022). Penerbangan pesawat pengintai P-8A Poseidon dilakukan...

    Intellasia East Asia News – China asks foreign business leaders how to revive HK in rare move

    <!-- --> China asked Hong Kong’s foreign chamber of commerce a few weeks before new leader John Lee Ka-chiu took office how to...

    Intellasia East Asia News – New COVID-19 cases below 8,000 for 2nd day amid easing omicron spread

    <!-- --> South Korea’s new COVID-19 cases came below 8,000 for the second consecutive day Friday, marking a moderate downtrend amid the slowing...