Trust Bank to unveil more unsecured loans

Virtual transactions: A credit card holder paying bills through a smartphone. Trust Bank says there has been a strong response to its loans tied to the credit cards it issues.

SINGAPORE: Trust Bank will roll out more types of unsecured loans to customers in the coming months as the digital bank races towards its goal of being profitable by 2025.

This comes after the institution, which is backed by Standard Chartered Bank and FairPrice Group, launched what it calls Instant Loans for some of its Trust credit card holders in July. It is based on customers converting a portion of their available credit balance into cash, with interest rates starting from 3.4% a year.