GE Money launches new personal loan

GE Money has launched James, a new and enhanced personal loan that empowers customers to make their own choices through an extensive range of flexible repayment options.

A recent consumer survey conducted by GE Money has revealed that more than 50% of consumers view their current personal loans as restrictive and felt imprisoned by the inflexibility presented by current industry offerings.

Out of 356 consumers surveyed in Singapore, the majority said they use loans to pay for specific needs or big ticket items, while 34% said they use loans to fulfill last minute emergency cash needs. When applying for a loan, almost all stated that flexibility is an important or very important consideration.

GE Money said that the new and enhanced James targets young and aspirational consumers who are confident of their ability to pay back and understand how loans can help them to achieve their dreams. James's extensive range of flexible repayment options found in one single product will empower customers to design a loan that meets their individual needs.

The company said that James gives customers the freedom to control their finances with, last installment waiver; pay interest only; payment holiday; step up or step down interest rate.

These options complement James's existing features, offering loans up to four times customers' monthly income and the widest range of loan tenures and due dates to best suit customers' requirements.

Alok Kumar, chief marketing officer at GE Money Singapore, said: "The launch of the new and enhanced James reflects GE Money's commitment to meeting consumers' changing needs by giving them the freedom to control their finances.".

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