A digital bank backed by Grab and Singtel has launched a savings account targeted at Gen Z’s, young millennials and gig workers. GXS bank is the first of two that have been granted digital full bank licences by the central bank to launch. GXS’ new savings account will have no lock-in periods, minimum account balances, or tiered interest rates. Available for download as an app from Sep 5, the service will be rolled out in phases to selected employees and customers from Grab, Singtel and the bank itself.
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