Grab has launched a new cash loan service for consumers, starting in the Philippines, with plans to expand to Thailand and Malaysia by mid-2026. The offering targets Southeast Asia’s large underbanked population, particularly individuals without credit cards or formal credit histories.
Previously, Grab’s financial services were limited to merchants and drivers using platform earnings data, leaving everyday users out. The new consumer loan aims to close this gap by introducing an alternative way to assess eligibility.
Instead of relying on traditional credit metrics, Grab uses a “holistic combined score” generated from user activity. This includes factors such as ride frequency, average GrabFood spending, and how long a user has been on the platform.
Only pre-approved users can apply. Eligible consumers complete an in-app identity verification and link a repayment method, such as an e-wallet or bank account, directly within the app.
Interest rates start from 2.99% per month, depending on eligibility, along with a one-time processing fee of up to 2%. Users can view their personalised loan terms in the app before accepting.
Repayments are deducted automatically, which Grab says helps keep operational costs low and loans more affordable. The service is designed to provide an alternative to informal lenders while helping users build a formal credit profile and improve financial flexibility.
