Fund your dream car with DBS Car Loan

The maximum amount you can borrow depends on your car’s Open Market Value (OMV):

• OMV of S$20,000 or less: Up to 70% of the lower of the purchase price or valuation price, whichever is lower.
• OMV above S$20,000: Up to 60% of the lower of the purchase price or valuation price, whichever is lower.

The Effective Interest Rate (EIR) shows the true cost borrowing on a reducing balance basis and is useful for comparing different loan options.

The EIR is higher than the nominal flat rate charged because flat rate computations calculate interest as a lump sum upfront and do not take into account the monthly principal repayments made throughout the loan period. Also note that the loan period affects the EIR even when the nominal flat rate remains the same.

The Standard Terms and Conditions for Hire Purchase Agreements were updated on 10 December 2024. You can view the latest version here.

From 30 June 2025, the bank will need an LTA Access Code to verify your car ownership details through LTA Digital Service.

• This service is called 'Enquire PARF/COE Rebate for a Registered Vehicle'.
• You can request the code through LTA’s Vehicle-Related Digital Services using Singpass.
• When asked, share the code with our car partners so the bank can verify ownership during your loan application or before loan disbursement.