What are the features of a Grab/Gojek car loan?

A Grab/Gojek car loan is a personal loan used specifically to ease any financial issues drivers may face at their jobs. A Grab/Gojek car loan can also come in handy when new Grab/Gojek drivers are transitioning into a new career with Grab/ Gojek.

A Grab car loan or Gojek car loan can be used to cover the costs of your car rental, parking and petrol fees. Funds obtained via the loan can also be used for urgent car reparation or servicing projects. It can be useful if you’ve been unfortunately involved in an accident hence require time off from driving as well as money for medical emergencies.

For those who have been driving Grab/Gojek for some time, a Grab/Gojek car loan can also be useful if you want to take a week or two off driving to spend more time with your loved ones and friends, or simply, just rest. Driving for long hours is physically draining as we know it.

grab loan or gojek loan from moneylenders for drivers to buy cars
man signing contract for moneylender

How does it work?

A Grab/Gojek car loan is a quick cash loan specially designed for Grab/Gojek drivers old and new. For this personal loan, applicants can borrow up to 6X their monthly income though the loan amount extended will be carefully evaluated based on their income, financial situation, existing debt obligations and chosen loan repayment terms.

Eligibility & Fees

To be eligible for a Grab/Gojek car loan, you need to be at least 21 years old, a Singaporean/ PR or foreigner with a valid working permit. Of course, you must also be driving with Grab/Gojek.

Required Documents

Here are the documents required for getting a Grab/Gojek car loan:

What is the interest rate for a Grab/Gojek car loan in Singapore?

It could range from anywhere from 1%-4% per month, depending on the size of the loan. Your loan repayment terms and tenure may also come into play.

man checking moneylender interest

What is the loan quantum for a Grab/Gojek car loan in Singapore?

This depends on your requirement for the Grab/Gojek loan as well as your own financial standing. Every Grab/Gojek driver’s situation is unique. The maximum amount you can borrow will also be carefully calculated against your ability to repay the loan. As a general rule of thumb, never ever borrow beyond your means! 

grab loan or gojek loan from moneylenders for drivers to buy cars or taxis

Is there any difference between a Grab car loan or Gojek car loan?

Not really. We do not discriminate against borrowers at all — the loan terms will be the same for all drivers no matter if they work for Grab or Gojek.