(20 August 2025 – Singapore) CIMB Singapore has launched FlexiPay, a new loan product that lets small and medium-sized enterprises (SMEs) make repayments based on their daily revenue.
The first scheme of its kind in Singapore, FlexiPay automatically deducts a fixed percentage of daily deposits according to a business’s chosen holdback rate. If no revenue is earned, no repayment is required.
For example, if the rate is set at 5 percent and daily earnings reach US$780 (S$1,000), then US$39 (S$50) will be repaid.
The facility carries a single upfront fee with no interest, late charges, or prepayment penalties, and applications can be completed fully online.
Benjamin Tan, head of commercial and transaction banking at CIMB Singapore, said: “FlexiPay was designed to provide SMEs with greater flexibility and transparency in financing. The solution aims to remove barriers that businesses typically face in securing bank loans.”