GrabFinance for Driver – Cash Loan

Better cash flow for a better everyday

with our Cash Loan

Whether driving with Grab serves as your main or side income, life’s always easier with better cash flow to cover your big ticket purchases. Our Cash Loan allows an eligible group of driver-partners to get an affordable loan facility, so they can take care of their needs easily.

Easy application

Simply open the Grab Driver app, go into your Wallet and select Cash Loan to apply.

Upon successful application, we’ll disburse the cash amount into your Cash Wallet.

Hassle-free, auto deductions

No need to worry about payment due dates anymore.

Automated deductions from your Cash Wallet will be made on a daily basis until your Cash Loan balance is settled.

Affordable interest rates and processing fees

Get charged only for Interest and processing fees.

However, we will inform you directly in case there are any changes to our fee structure.

FAQs

A select group of GrabCar driver-partners are now eligible to apply for a Cash Loan right on the Grab Driver app.

You can apply for the Cash Loan program right on the Grab Driver app. Simply go into your Wallet screen and you will see a card to apply for the program. Upon successful application, we will transfer the loan into your Cash Wallet.

Automated deductions from your Cash or Credit Wallet will then take place over a time period until your loan is settled.

You will be charged an interest rate for taking out a Cash Loan. The interest rate varies depending on your profile as well as the amount and the terms of your loan.

There is no administrative fee on the Cash Loan at the moment. However, we will inform driver-partners directly in case there are any changes to our fee structure.

Depending on your Cash Loan program, it could last anywhere between 3 and 6 months. Larger loan amounts will typically have a longer repayment period. You can explore the Cash Loan program on your Grab Driver app to see your options.

Driver-partners will see a card on their wallet screen for the Cash Loan program. They can apply for the program right inside the Grab Driver app.

No. You do not need to submit documents to apply for the Cash Loan program. Simply launch your Grab Driver app, go into your Wallet screen, and apply for the program.

We are offering the Cash Loan program to a small group of driver-partners who were selected based on their historical earnings and driving pattern.

Yes. You may try to apply again sometime in the future to check if you qualify for the program.

Please note that you cannot apply for the Cash Loan program if you have any unsettled or pending deductions from a previous financing program.

Cancellation is not possible at this point. You may leave the amount in your Cash Wallet and allow the app to make the automated deductions over the agreed tenure.

No. At the moment, we are only piloting the Cash Loan program to a small group of driver-partners who were selected based on their historical earnings and driving pattern.

No, it won’t. You will continue to earn your income and incentives as usual.

We will deduct the payments from your Cash Wallet and you will be able to cash out the remaining balance.

The Cash Loan will be transferred to your Cash Wallet shortly after your application is approved. You can then transfer this amount to your bank account. Please note that you can only transfer to a bank account that is registered with your Cash Wallet.

We automatically make deductions from your Cash Wallet. If your Cash Wallet funds are low, we will then attempt to deduct from your Credit Wallet. The time of deduction may vary each time.

The deduction schedule and frequency will depend on the Cash Loan program you apply for. To learn more about your options, do explore the Cash Loan program in your Grab driver app. Go into your Wallet and tap on the Cash Loan card.

We automatically make deductions from your Cash Wallet. If your Cash Wallet funds are low, we will then attempt to deduct from your Credit Wallet.

We will deduct the missed or late payments from your Cash Wallet and you will be able to cash out the remaining balance.

No. The maximum amount you can apply for on the Cash Loan program is displayed right on the app. You are unable to apply for anything above the displayed amount.

We are continually updating your Cash Loan offer based on your latest driving and earning patterns.

We apologize that it is not possible to return any amount from the Cash Loan program to Grab. You may leave the amount in your Cash Wallet and allow the app to make automatic deductions over the agreed tenure.

Please call our hotline at 82313608 or email us at GFSA.PH.Collections@grabtaxi.com and we’ll help you.

The information provided here is intended as a guide only and does not constitute an offer or application for a loan or financing. The above product is available for selected users only and eligibility is subject to Grab’s internal assessment, standard disclaimers and terms and conditions.