DBS/ POSB Loan Assist Relief Term Loan Support
Thank you for your interest in the COVID-19 DBS/POSB Loan Assist Relief Term Loan.
We are unable to process your application as you did not meet one or more of the eligibility criteria listed below:
- You must be an existing customer with DBS/POSB Credit Card(s) and/or Cashline account.
- Singapore Citizen or Permanent Resident.
- You have lost 25% or more of your income since or after 1 February 2020 (proof of impact on income required).
- Between 30 and 90 days past due on your existing unsecured debt with us at the application date.
- Your existing credit card and/or Cashline account has not been terminated/cancelled by DBS/POSB.
- Not on any existing debt repayment or restructuring programmes with DBS/POSB.
If you require further assistance with your intended application or the repayment of your outstanding balances on your DBS/POSB Credit Card(s) and/or Cashline account, you may write to us at email@example.com to appeal your case with the following information for our review.
- Contact Number
- Credible Justification (Example: supporting income documents, company letter etc)
We wish to highlight that this Relief Term Loan is to help reduce your debt burden arising from the higher interest charges when you revolve on your credit cards and/or Cashline accounts. Please give due consideration to the interest costs you will eventually have to pay when taking up the Relief Term Loan and balance this against your need for temporary cashflow relief before submitting an appeal. Choosing a Relief Term Loan with a longer tenure will incur more interest as compared to a shorter loan tenure. You should continue to make prompt payments or settle your loan in full early if you able to do so to reduce your total interest payable and debt liability.
Please note that your credit cards and/or Cashline accounts will be terminated upon approval of your appeal. Fresh income proof submission will be required if you decide to reapply for a new credit facility after paying off the Relief Term Loan
Please click here to read Important Notes and Terms & Conditions & FAQs for DBS/POSB Loan Assist Relief Term Loan (“Relief Loan”)