Access Cash from your Property -
Home Loan

access cash from your property

Call 6NoSkype333 0033 or

Contact Us

Mon – Fri: 9.00am- 5.30pm/
Sat: 9.00am to 12.30pm

Are your assets working for you? Expanding your business or seizing an attractive investment opportunity for yourself or your loved one? DBS AssetLine is a secured* overdraft facility which gives you the financial freedom and flexibility to pursue your financial goals. Get access to ready funds with DBS Bank, the Asian Bank of Choice! With our competitive interest rates, it is one valuable option to manage your cash flow.

* Security may be provided in the form of property / fixed deposit / structured deposit / single-premium policy.

Here's a step-by-step guide to how you can access cash from your property.

Understanding AssetLine

Step 1: Understand more about AssetLine

Many people take out a home equity loan to take advantage of the equity in their home. You can then use the money for purchases, standby credit, and other expenses.

Here's what you enjoy with AssetLine:

  • Flexible repayment with no prepayment penalty
  • Competitive interest rate
  • Checking facility
  • Easy access to funds through ATM/NETS, Phone or Internet Banking

Note: Credit facilities are granted at the Bank's discretion

Qualify for AssetLine

Step 2 : Qualify for AssetLine

How do I qualify?

How much can I borrow?

Valuation

Step 3 : Obtain a Formal Valuation of the Property Current Indicative Value (CIV) from the Bank

The Bank will provide an indicative value of the property from its panel of approved valuation companies.

You have to ensure that the following details provided are correct for an accurate indicative value:

  • Address of property
  • Property type (landed, condominium, others)
  • Land / built-in area
  • Freehold / leasehold (999 years / 99 years)
  • Renovation (how much was done and when)
  • TOP Date
  • Age of property

For the list of details required, please refer to Your Dream Home Checklist.

Loan Application

Step 4: Apply to the bank for AssetLine

For the bank to process your loan, you will need to submit these documents:

  • Application Form
    • Mortgage Application Form
  • CPF Documents
    • Contribution History up to the last 12 months
  • Income Documents
    • Latest Income Tax Notice of Assessment or
    • Latest computerised payslip or
    • Latest 2 years Income Tax Notice of Assessment (only applicable to self-employed/commission based customers)
  • CPF Residential Withdrawal Statement(s)

Additional documents may be requested on a case-by-case basis. Upon approval of your application, you will receive a Letter of Offer (LO)* from the Bank, stating the details such as loan amount, tenure and terms and conditions. Before signing the LO, you should ensure that you understand its contents entirely, as it becomes legally binding upon acceptance.

Once you have accepted the LO*, the Bank will then instruct the law firm and valuation company to proceed with the necessary mortgage documentation and valuation report respectively.

A caveat^ will be lodged by your lawyer with the Singapore Land Authority against the property.

* An LO is a formal offer of housing loan from the bank, setting out the terms and conditions governing the housing loan offered therein.
^ A caveat serves as a public notice that the person lodging it is claiming an interest in the property, and it will lapse 5 years from the date of lodgement, unless it is discharged or renewed.
Be Ready To Act

Next Steps

  • Call us, email us or SMS "Home<space>Name<space>NRIC" to 76060 for customised rates
  • Email us
  • Request a consultation
  • Calculate your estimated monthly mortgage instalments
  • Get our home loan application checklist for the documents you will need
  • Download an application form
  • Submit your cpf statement online.