Grab / Private Hire Loans

One of the benefits for drivers is that they can receive financing by simply showing the income from payslips generated by the app. some drivers do this job full time, while others do it on a part-time basis. whichever one it is, if the income can be proven, then one can qualify for a grab/taxi driver loan, Grab/taxi driver loans are essentially personal loans packaged with taxi drivers in mind. you must first meet the eligibility requirements for the loan to qualify for one.

-you must be above the age of 21

- have proof of your grab/taxi income

-and should also be able to show bank statements for the last 2 or 3 months.

like most other personal loans, grab/taxi driver loans are unsecured. one doesn’t have to bring collateral along. additionally, such a loan is flexible and our helpful loan assistants will be able to walk you through the process of applying for the loan. unsecured loans are pegged on one’s creditworthiness. this means that you will have to show that you are capable of making timely repayments. your credit report and credit score will be taken into account. for banks and other financial institutions, those with a good credit score will often secure better interest rates because they are proven as low-risk borrowers.

At SD Credit, we aim to try and help as many people have access to credit. thus, you can still expect that the loan will most likely be approved. the only drawback is that the interest paid might be slightly higher furthermore, grab/taxi driver loans have been tailor-made with the nature of taxi work in mind. this means that the repayment period is often longer. it allows for smaller monthly repayments which are more comfortable for taxi drivers who may have to contend with times when business is slow your financial situation will be accessed with the loan tenure tailored to fit. of course, you are encouraged to pay off a loan as soon as possible so a shorter tenure is more desirable for those looking to pay less in overall interest. with a shorter loan repayment period though, comes larger monthly payments. it is therefore important that you strike a balance between monthly payments and loan tenure.