Cashline's Fastcash - Cash Within 20 Mins of Approval

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Cashline - further solidifies DBS' leadership position in personal credit facility

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Winning Formula Gains More Than 90,000 Cashline Accounts For DBS

SINGAPORE, JULY 29 - DBS Bank has further solidified its leadership position in unsecured personal credit by introducing Cashline's Fastcash. This service enables approved Cashline customers to get cash almost instantly.

DBS/POSB ATM card holders who apply by calling Cashline's Fastcash Hotline at 1800-220111 to furnish their personal details to the Fastcash officers, will be able to get their instant cash withdrawal from their Cashline account within 20 minutes of approval at any of the Bank's 900 ATMs located islandwide.

DBS launched Cashline last October. Today, barely eight months later, more than 90,000 accounts have been opened. The Bank is confident of opening up more than 120,000 Cashline accounts by the end of this year. The overwhelming response to Cashline has surpassed industry standards. According to market statistics, personal credit line products usually see a take-up rate of around 35,000 per year.

Raymond Ang, Vice President (Loans), DBS Bank said: "We are committed to listening to our customers and providing them with innovative products, efficient services and excellent customer service."

"Our offerings are designed to suit our customers' lifestyles and preferences. We believe that pricing, accessibility and speed are of paramount importance to customers seeking a personal revolving credit line. With Cashline's Fastcash, we are confident of meeting their needs," Ang continued.

Following the Cashline launch, customers' feedback has shown that they want to be able to apply for a personal credit line that allows them quick access to cash, especially in times of emergency needs. As a direct result of the customers' input, DBS put together an internal team to review the Cashline application process.

"The ability to offer customers instant access to their new credit line within 20 minutes is definitely a first in this region. We were able to reduce our processing time by more than 40%, which is a feat we believe many of our competitors will find hard to match," added Ang.

Cashline's Fastcash is a personal revolving credit line service, which offers customers the fastest response in processing applications, the lowest interest in the market at only 1% monthly, and the broadest ATM network to access cash.

As an added incentive, the Bank waives the first-year membership fee, and no collateral or guarantors are required. To qualify for Cashline's Fastcash, customers need to meet certain minimum criteria. Customers need to be Singaporeans or Permanent Residents who are DBS/POSB ATM card holders, aged between 21 to 60 years old, residing in Singapore and with an annual income of at least $30,000.

DBS Bank is one of the largest banks in Singapore, with dominant positions in consumer banking, treasury and markets, securities brokerage, Singapore dollar loans, deposits, and equity and debt fund raising. Through its Dao Heng Bank and DBS Kwong On Bank operations, DBS Bank is the fourth largest banking group in Hong Kong. Beyond the anchor markets of Singapore and Hong Kong, DBS Bank serves corporate, institutional and retail customers through its operations in Thailand, The Philippines, and Indonesia. The Bank's credit ratings are amongst the highest in the Asia-Pacific region. More information about DBS Group Holdings and DBS Bank can be obtained from our website www.dbs.com.