Products

DBS Personal Loan

Enjoy fixed interest rate and monthly instalments to better manage your finances.

DBS Personal Loan

Features

  • Get cash of up to 4X1 of your monthly salary (10X1 if your annual income is S$120,000 and above).
  • Fixed interest rates from as low as 5.88% p.a, with monthly instalments of 1 to 5 years. E.I.R* from minimum 11.32% p.a to maximum of 19.20% p.a
  • Get immediate cash2 to your DBS/POSB deposit account.

How to Apply

  • Apply now at 7.99% 5.88% p.a (more than S$3,000 for 36-60 months) and get immediate cash2 to your DBS/POSB deposit account.

    For customers with Credit Card and/or Cashline account. No documents are required. More details in FAQ.

    Apply Now

  • Let us assist you on your application.

    Contact Me Now

For new customer, please apply for Credit Card or Cashline account first and take up a Personal Loan when account applied is approved.

Product Details

For Customers with annual income of at least S$30,000.

  • Credit Cardholders
  • Cashline account (for income S$30,000 and above)

Tenure
(months)

A.I.R
(%p.a.)^

Processing fee

E.I.R
(%p.a.)*

Monthly instalment amount
for loan of S$5,000

12

7.99

3%

19.70

S$450

24

7.99

3%

17.28

S$242

36

7.99 5.883

3% 2%

16.23 12.04

S$172 S$164

48

7.99 5.883

3% 2%

15.56 11.62

S$138 S$129

60

7.99 5.883

3% 2%

15.07 11.32

S$117 S$108

Example: Suppose you have a Credit Card with an eligible credit limit of S$8,000 and you took up a Personal Loan of S$5,000 for 60 months on your Card. Assume S$5,000 Personal Loan amount is approved.

  • A S$5,000 loan amount will be credited to your selected DBS/POSB deposit account
    • Applied Interest Rate: 5.88% p.a
    • Processing Fee: S$100 (charged separately from loan amount)
    • Effective Interest Rate*: 11.32% p.a
  • Instalment amount of S$108 will be reflected in your Credit Card statement on a monthly basis.
  • Total cost of loan: $5,000 (loan amount) + $100 (processing fee) + ($294 x 60/12) (interest x no of years) = $6,570

For Customer with annual income of S$20,000 to less than S$30,000

  • Cashline account (for income S$20,000 to below S$30,000)

Tenure
(months)

A.I.R
(%p.a.)^

Processing fee

E.I.R
(%p.a.)*

Monthly instalment amount
for loan of S$3,000

12

11.00 

4% 

26.62 

S$278

24

11.00 

4% 

23.26 

S$153

36

11.00 

4% 

21.74 

S$111

48

11.00 

4% 

20.75 

S$90

60

11.00 

4% 

20.01 

S$78

Example: Suppose you have a Cashline (for income S$20,000 to below S$30,000) with an eligible credit limit of S$4,000 and you took up a Personal Loan of S$3,000 for 60 months on your Cashline account. Assume S$3,000 Personal Loan amount is approved.

  • A S$3,000 loan amount will be credited to your selected DBS/POSB deposit account
    • Applied Interest Rate: 11% p.a
    • Processing Fee: S$120 (charged separately from loan amount)
    • Effective Interest Rate*: 20.01% p.a
  • Instalment amount of S$78 will be reflected in your Cashline statement on a monthly basis.
  • Total cost of loan: $3,000 (loan amount) + $120(processing fee) + ($330 x 60/12) (interest per year x no of years) = $4,770

 

^ A.I.R.: Applied Interest Rate

* E.I.R: Effective Interest Rate – inclusive of 3% (for AIR: 7.99% p.a) or 2% (for AIR: 5.88%) or 4% processing fee (for AIR: 11%).

The above monthly instalment amounts have been simplified for illustration purposes

1 DBS may grant such credit limit at its discretion, which may differ from what is requested

2 DBS will only process applications that meet the bank's internal requirements. Please note that there is a downtime daily from 11.45PM to 8.00AM and application will be pending status during downtime.

3 Minimum amount to take a 36 – 60 months loan is more than S$3,000 and applicable for Singaporean/ Permanent Residents.

DBS Personal Loan Terms and Conditions.

Important Information

From 1 April 2016, if you wish to have a free credit report, you may obtain it within 30 calendar days from the date of approval or rejection of this application via the credit bureau websites listed below. Alternatively, you may bring the approval or rejection letter and your NRIC to the following credit bureau’s registered office to obtain a free credit report.

Credit Bureau (Singapore) Pte Ltd
2 Shenton Way
#20-02 SGX Centre 1
Singapore 068804
Tel: (65) 6565 6363
www.creditbureau.com.sg

* Clarification: We would like to clarify that “The free Credit Bureau Report” is limited only to application of a new product such as Cashline, Credit Card, Further Study Assist. Applications such as Credit Limit increase, Balance Transfer / Personal Loan disbursed from existing products and existing principal cardholders applying for another card(s) are not entitled to the free credit report.

Eligibility
NationalitySingaporean or Permanent Resident
Age21 – 65 years old
Minimum Annual IncomeS$20,000 and above

DBS Personal Loan will require (i) a Cashline and/or Credit Card account to grant the loan amount, and (ii) a DBS/POSB deposit account (excluding Joint All, Trust, MSA, SAYE and POSB current accounts) for loan disbursement. (see Frequently Asked Questions Tab for more details)


Mandatory Documents

 

+ 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.

Please note that applications not accompanied with required documents or with incomplete information will cause a delay in processing.


  1. How do I apply for a Personal Loan after I click on “Apply Now”?

    You can do an online Personal Loan application in 2 ways:

    1. Using iBanking Login: Enter your iBanking username and password to apply for an online Personal Loan application.
    2. Using Card and PIN: Input your Debit or ATM Card Number and the PIN number (the same PIN that is used for ATM input). For customers with only Personal Credit Card and no Debit or ATM Card, please use Credit Card as your selection.

    In the event that you encounter an error or cannot remember your iBanking acess or Card and PIN, please fill up the contact me form for us to assist you.

    More details in FAQ for online application


  2. After applying, what can I expect?

    Upon approval of POSB/ DBS Personal Loan, you will receive:

    1. A SMS confirmation for Cashline account (if applied with a Cashline account).
    2. You will receive another SMS confirmation that the personal loan is approved. Please check your designated account for disbursement.
    3. An approval letter for Cashline account and the POSB/ DBS Personal Loan will be sent over to your mailing address in 5-8 working days after receiving the SMS messages
    4. You will receive a DBS ATM Card (if you do not have one) as part of Cashline application

    If you are an existing Cashline account or Credit Cardholder, you will receive:

    1. You will receive a SMS confirmation that the personal loan is approved. Please check your designated account for disbursement.
    2. An approval letter for the POSB/ DBS Personal Loan will be sent over to your mailing address in 5-8 working days after receiving the SMS messages

  3. What is a Cashline account and why is it use for POSB/ DBS Personal Loan?

    Cashline is a standby line of credit account which the credit limit granted is utilized for DBS/POSB Personal Loan.


  4. What do I do with the remaining credit limit in the Cashline account?

    You have the flexibility to use the available credit limit (up to 95%) to take up another Personal Loan or you can use the available credit limit as a standby credit line for short term usage.

    There are no extra supporting documents required for these uses on your remaining credit limit.

    More information on Cashline 


  5. How about the remaining credit limit in my Credit Card?

    Similar to above question, you can use the available credit limit (up to 95%) to take up another Personal Loan or use for other Credit Card purposes such as retail transactions.

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