| Bank A: S$10,000 Bank B: S$15,000 Bank C: S$15,000 Bank D: S$20,000 Interest Charges: S$15,540/year1 from 4 separate banks |
| A monthly amount of S$1,012.332 is deducted automatically from your chosen DBS/POSB account over a maximum of 72 instalments. Interest Charges: S$2,148/year from one bank |
| A total savings of S$13,392 (86% off the original amount!) Figures are for illustration purposes only. |
| A DBS Debt Consolidation Plan comes with a DBS Visa Platinum Credit Card3 so you can manage daily expense with conveniences.
Learn more about DBS Card fees and charges. |
| 1Calculated based on an interest rate of 25.9% p.a. 2Calculated based on an interest rate of 3.58% p.a. (EIR from 6.56% p.a.). Interest will be amortized using the “Rule of 78” computation method in your monthly instalment over the full loan tenure. 3Please note that this DBS Visa Platinum Credit Card will be scheduled for cancellation once your DBS Debt Consolidation Plan is fully repaid. |
Nationality | Singaporean/Permanent Resident |
Age | 21 to 65 years (upon loan maturity date) |
Income | Annual income from S$30,000 to < S$120,000 |
Balance to Income Ratio (BTI) | Balance to Income Ratio (BTI) of more than 12 times your monthly income |
Processing fee | S$99 |
Early termination fee | 5% on the balance outstanding at point of termination |
Late fee | S$90 |
Before you begin | You will need a DBS / POSB deposit account (excluding Joint All, Trust, MSA, SAYE, FCCA and POSB current accounts) for the repayment of the loan. If you do not have an existing DBS / POSB account, click here to apply before beginning your Debt Consolidation Plan application. |
Step 1 | Download and fill up the editable Debt Consolidation Plan PDF application form. To have the best experience please complete the form using Adobe Acrobat Reader on your Personal Computer. Click here to download the application form. |
Step 2 | Check that all required documents are in order.
For New to Debt Consolidation
For Refinance to DBS Debt Consolidation Plan
For Repayment Terms Revision
Important note: Please note that maximum 5 files are allowed to be uploaded. Supported file are JPG, PNG, PDF. Maximum of 4MB each. You may refer to the guide here on how to combine your documents. |
Step 3 | Submit your application online seamlessly and fully assisted by our digibot here. You will need to authenticate yourself via:
Please wait a few seconds for the digibot to be activated and it will guide you through your application. |
Debt Consolidation Plan Repayment Form
You can now pay the outstanding balance on your Debt Consolidation Plan through our request form. If you have an existing GIRO arrangement for your loan account, please do not use this form to make payment.
Calculate your estimated repayment
Use our handy calculator tool to estimate your monthly repayment amount based on your loan amount and tenure.