DBS Debt Consolidation Plan
At a Glance
*Effective Interest Rate – based on S$63,000 loan amount for 96-months loan tenure and inclusive of processing fee.
The interest rate offered to you is based on your personal credit profile and may differ from the published rate and the rate offered to other borrowers, subject to the bank’s discretion.
How it Works
1 Calculated based on 25.9% p.a
2 Calculated based on 3.58% p.a. (EIR 6.56% p.a.)
Who can apply?
- Singaporean/Permanent Resident
- 21 to 65 years (upon loan maturity date)
- Annual income from S$30,000 to < S$120,000
- Balance to Income Ratio (BTI) of more than 12 times monthly income
|Early Termination Fee||5% on the balance outstanding at point of termination|
Calculate the monthly repayment with our handy calculator!
Visa Credit Card
DBS Debt Consolidation Plan comes with a DBS Visa Platinum Credit Card to provide you with a convenient mode of payment for managing your daily essentials.
- This card comes with a maximum credit limit of 1x your monthly income.
- No annual fee.
Click here to find out more about DBS Card fee and charges.
- Latest Credit Bureau report1 AND
- Income documents (any ONE of the following)
REQUIRED INCOME DOCUMENTS Salaried Employees Variable Commission based Employees/Self Employed
Latest Income Tax Notice Assessment2
Latest 12 month's CPF Contribution History Statement3
Provide any one of these documents
Salary Crediting into DBS/POSB Account
Latest Computerised Payslip
- Proof of Outstanding Unsecured Facilities Document (any ONE of the following)
- Latest bank statements OR
- Confirmation letter evidencing new balance transfer/loans OR
- Any other relevant documents evidencing account information or balances
1 You can obtain a copy of your Credit Bureau report in-person either at CBS office or any SingPost branches, or through www.creditbureau.com.sg with your SingPass. A transactional fee of S$6.42 (inclusive of GST) applies.
2 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 condition that your salary is credited via GIRO, to your own Personal POSB/DBS Account 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.
- DBS reserve the rights to reject any of the documents provided.
- Applications not accompanied with required documents or with incomplete information will cause a delay in processing
How to Apply
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.
|Application via Online form – Step by step guide|
|Step 1|| |
Download and fill up the editable Unsecured facilities Declaration PDF form. To have the best experience please complete the form using Adobe Acrobat Reader on your Personal Computer.
Please do not mask off your data in the form, this is to ensure all data can be collected accurately
|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
|Step 3|| |
Submit your application online seamlessly. You will need to authenticate yourself via:
Please ensure that you have met the following conditions before applying for a Debt Consolidation Plan. Kindly ensure that you are:
Do note that applications not fulfilling any 1 of the conditions above may be subjected to a longer application time and rejection of application.
You may now pay your outstanding amount on your Debt Consolidation Plan via our digital form. Please do not make payment via this request form if you have an existing Giro arrangement on your loan account.
Changing of your loan servicing account for Debt Consolidation Plan is now available online in just 1 simple step. Click to find out more.