Fintech firm GCash has expanded its financial services with GCredit, a credit line powered by digital bank CIMB that helps users manage daily expenses and bills without relying on credit cards or borrowing from friends and family.
GCredit provides eligible users with a credit limit of up to ₱50,000 that can be accessed directly through the GCash app. It is designed to cover essential payments such as electricity, water, internet, landline, and groceries. The service charges a daily interest rate of 0.17%, or about ₱1.70 for every ₱1,000 borrowed.
To make repayment easier, users can pay as little as 10% of the total amount due instead of settling the entire balance at once. This flexibility is intended to help individuals manage expenses during tight budget periods or when income does not align with billing schedules.
To use GCredit, users must be Filipino citizens between the ages of 21 and 65 with a fully verified GCash account. Eligibility can be checked by tapping “Borrow” and selecting “GCredit” in the GCash app. Users who qualify will receive an SMS with activation instructions, which include confirming an email address, verifying personal details, and submitting the application. A confirmation email will follow once the account is ready for use.
GCredit can serve as a short-term solution for urgent needs, particularly during what Filipinos often refer to as “Petsa de Peligro,” the days before payday when funds run low. GCash reminded users to manage their borrowing responsibly by reviewing terms, planning repayment, and paying early to reduce interest charges.
With the addition of GCredit, GCash aims to provide a convenient option for individuals who need extra support in managing essential expenses, especially as household budgets face increasing demands.