Cashline FAQs - Credit Line

 
  1. How can I apply for DBS Cashline?

    You can apply for DBS Cashline via the following:
    • By visiting any DBS/POSB branches
    • By calling our 24 hour Customer Service Hotline at 1800 111 1111 or (65) 6327 2265 (from overseas) for an application form to be sent to you.
    • Apply at DBS Website
  2. What are the requirements?

    The basic criteria to apply for DBS Cashline is that applicant must be a Singaporean/PR earning a gross income of at least S$20,000 per annum and between 21 and 70 years of age.
  3. What are the documents required?
      Singapore Citizen/Permanant Resident
         • NRIC (Front and Back), AND
         • Income Documents (any ONE of the following)
      Salaried Employees:
         A: Latest 12 months’ CPF Contribution History Statement+
         B: Latest Computerised Payslip
         C: Salary Crediting into DBS/POSB Account^^
         D: Latest Income Tax Notice of Assessment** with either A OR B OR C
      Variable/Commission-based Employees:
         A: Latest 12 months’ CPF Contribution History Statement+
         B: Latest 2 years’ Income Tax Notice of Assessment**
      Self Employed:
         A: Latest 2 years’ Income Tax Notice of Assessment**

    +  Please note that your CPF documents submitted online are only available for up to 7 days from the date of your submission.

    ** You can now print your Income Tax Notice of Assessment at myTax Portal with your SingPass or IRAS PIN. The service is free. Log on to https://mytax.iras.gov.sg for more details.

    ^^ Income documents are not required on the condition that your salary is credited via Giro, to your own Personal DBS/POSB Account and for at least 3 consecutive months. The Bank will review, and if necessary, adjust the current combined credit limit of all unsecured accounts based on the latest salary crediting information provided.

    Please allow 7 days for processing. Applications not accompanied with required document or with incomplete information will cause a delay in processing.
  4. How much credit limit will be granted?

    The overall aggregate credit limit granted by DBS Bank Ltd (”DBS”) for Singapore Citizens/Singapore Permanent Residents with a gross annual income of:

    • between S$20,000 and below S$30,000 is up to a maximum of 2 times your monthly income in respect of any DBS/POSB Unsecured Loan Facilities;
    • between S$30,000 and below S$120,000 is up to a maximum of 4 times your monthly income in respect of any DBS/POSB Credit Cards and Unsecured Loan Facilities; or
    • at least S$120,000 is up to 4 times your monthly income or a higher limit as may be determined by DBS in respect of any DBS/POSB Credit Cards and Unsecured Loan Facilities;

      regardless of the number of DBS/POSB Credit Cards and Unsecured Loan Facilities you hold or apply for.
  5. How can I use DBS Cashline?

    You can access Cashline via a Cashline cheque book, a DBS/POSB ATM card and perform funds transfer at any DBS/POSB ATMs or via DBS iBanking.

    Please note that you will not be able to withdraw cash from your Cashline account overseas.

    Cashline Cheque Book
    You can use your DBS Cashline cheques to make purchase for anything as long as the amount is within your credit limit.

    DBS/POSB ATM card
    If you are already an existing DBS/POSB ATM cardholder, you can immediately withdraw cash with your existing card at any DBS/POSB ATMs. If you do not have a DBS/POSB ATM card, a DBS ATM card will be mailed to you within 7 days from date of approval.

    Funds transfer
    You can transfer funds from your Cashline account to your own or third party's DBS/POSB account at any DBS/POSB ATMs.

    You can transfer funds from your Cashline account to your DBS/POSB account via DBS iBanking.
  6. How soon can I get my DBS Cashline Cheque Book and ATM card?

    The cheque book will be mailed to you within 7 working days from the date of approval. If you are an existing DBS/POSB ATM cardholder, you can use your existing ATM card to access funds from Cashline once the account is approved. If you do not have an existing DBS/POSB ATM card, a DBS ATM card will be mailed to you within 7 working days.
  7. How much can I use?

    You can use up to your available credit limit in the account. Whenever payment is made into the account, your credit limit will be automatically restored by the amount.
  8. How much do I have to pay back?

    You only need to service the monthly minimum payment of 2.5% of the outstanding balance or S$50 whichever is higher plus any overlimit or overdue amount.
  9. How do I know when and what to pay?

    You will be informed of your minimum payment due and due date via your Cashline statement of account which will be sent to you on a monthly basis. The monthly statement of account will detail all your withdrawals and deposits within one month from the statement date.
  10. How do I make payments?

    You may make payment to your Cashline account(s) via the following options:
    • Using iBanking on your your DBS/POSB bank account to the Cashline account
    • Using AXS
      - AXS Station – self-service kiosks
      - AXS QuickBill – over-the-counter at Cheers & Fairprice Xpress Stores
      - AXS e-Station – online at www.axs.com.sg
      - AXS m-Station – mobile app on IOS & Android
    • Using our DBS/POSB ATMs
    • Quick Cheque Deposit / Cheque Mail-in
    • Cash Payment at DBS/POSB branches
  11. How can I apply for a credit limit review?

    Please complete the DBS Cashline Credit Limit Review Form, print, sign and mail (or fax) the application form to us with the mandatory income documents.
  12. How is interest calculated?

    Interest on the Facilities shall be calculated on a daily basis, by multiplying the outstanding balance on Facilities by the Prescribed Rate and then dividing by 365/366 (in a leap year), subject to a minimum interest charge of S$5.00.
  13. How do I get a new cheque book if the current one runs out?

    You need not worry about requesting for a new cheque book. We will automatically send you a new one before the current one runs out.
  14. What are the fees and charges for DBS Cashline?
    • Annual fee of S$80
    • Late payment fee of S$80
    • Overlimit fee S$40
    • Stop cheque fee S$30 per cheque
    • Returned cheque fee S$40 per cheque
    • Request for Statement beyond current 6 months S$20 each
    • Replacement of ATM card S$5
    • Returned GIRO fee S$20
    • Returned standing instruction fee S$20
  15. What is CashShield?

    CashShield is an optional credit life protection insurance underwritten by Aviva Ltd. It pays off the outstanding balance on your Cashline Account up to S$100,000 in the event of diagnosis of critical cancer**, terminal illness, death or total permanent disability. For death due to accident, the amount doubles to a maximum of S$200,000.

    ** This plan does not cover pre-existing medical conditions. A waiting period of 90 days applies for claim of critical cancer benefit.
  16. Is there an age limit for CashShield enrolment?

    You can enroll for CashShield Prime as long as you are a Cashline customer who is 65 years of age or below. And you'll be covered until you are 71.
  17. How much will I be charged for CashShield?

    CashShield Prime premium is charged at a rate of S$0.49 for every S$100 outstanding on your Cashline Statement of Account.
  18. How do I pay for CashShield premium?

    CashShield Prime premium will be automatically deducted from your Cashline Account every month.
  19. How can I apply for CashShield coverage?

    Simply call our 24 hour Customer Service Hotline at 1800 111 1111 or (65) 6327 2265 (from overseas) and we will arrange for an agent to help with you the CashShield Prime enrolment.
  20. When will an interest adjustment be added to your account?

    If the Bank does not receive the required minimum payment by its due date (for example, due date on 25 June as illustrated in the example below), the interest rate applicable to your Cashline account will be increased by 6% p.a. on top of the Prevailing Interest Rate (“Increased Interest Rate”). This Increased Interest Rate shall be applied to the outstanding balance in your Cashline account from the first working day after the date of the subsequent Cashline account statement following your Cashline Account statement (i.e. August’s statement) and used to compute the finance charges applicable to your Cashline account.
    This additional interest rate shall be applied even if minimum payment is received by the Bank on or before the due date of the following month (i.e. in July).
    In the event that the minimum payments are made in full on or before their respective due dates for 3 consecutive months (i.e. for August, September and October statements), the Increased Interest Rate shall be reinstated to the Prevailing Interest Rate on the first working day after your next Statement Date (i.e. November’s statement).

    Example:
    faq20

    Click here for a larger image.

    Note: In this example, the Prevailing Interest Rate is assumed to be 17.8% p.a.
  21. How do I know when the Increased Interest Rate will be applied to my Cashline Account?

    Any adjustment/reinstatement to the Prevailing Interest Rate will be reflected in your monthly statement under the section ‘Message/s For You’.

    Example:
    faq21

    Click here for a larger image.
  22. What will happen if I miss my payment again?

    If you miss your payment again during the period of those 3 consecutive months during which you must maintain minimum payment in order for the Increased Interest Rate to be reinstated to the Prevailing Interest Rate, the Increased Interest Rate will continue to apply until minimum payments are made for a consecutive 3-month period. Using the example above in point 20, the Prevailing Interest Rate will only be reinstated from December’s statement.

    Example:
    faq22

    Click here for a larger image.

    Note: In this example, the Prevailing Interest Rate is assumed to be 17.8% p.a.

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