PAY your bills on time, and pay less for them. Customers of GE Money's personal loan product James now have the chance to reap rewards for prompt repayments.

As part of a move to encourage customers to exercise prudence in borrowing, James customers who meet their repayments in the first year of their loan on time and in full will be given 50 per cent off three months' interest.

'This innovative feature supports GE Money's commitment to responsible lending - a position the company has strongly adhered to since entering the market with ezyCash and later James,' said Rahul Gupta, president and chief executive officer of GE Money Singapore.

This newest variation of waivers from GE Money is an alternative to its offer earlier this year to waive customers' final month's instalment if repayments are made on time throughout the term of the loan.

'With this latest feature, James continues to strengthen its position as one of the most innovative and flexible personal loan products in Singapore that addresses the customers' need to have more control when taking a loan,' said Mr Gupta.

According to GE Money, feedback from customers shows they value being rewarded for timely repayment.

'Going forward, GE Money will continue to offer products and solutions in response to our customers' evolving needs,' Mr Gupta said.