Apply for My Preferred Payment Plan

Bought something expensive using your credit card and wish to have an option to pay it off over time? Split your purchases into monthly instalments of up to 24 months.

Part of: Guides > Go Shopping with DBS

Who is it for?

Customers who wish to make their expensive purchases or holidays more affordable.

Tenure 3 months 6
months		 12 months 18 months 24 months
One-Time Processing Fee
(based on transaction amount)
2%
0%
3%
5%
6%
6%
Effective Interest Rate
0% p.a.
10.43% p.a.
9.50% p.a.
7.86% p.a.
5.98% p.a.
For example, based on a transaction amount of S$2,700:
Tenure 3 months 6 months 12 months 18 months 24 months
Monthly Instalment
S$900
S$450
S$225
S$150
S$112.50
One-Time Processing Fee
(based on transaction amount)
S$0
(0% of S$2,700)
S$81
(3% of S$2,700)
S$135
(5% of S$2,700)
S$162
(6% of S$2,700)
S$162
(6% of S$2,700)
Total
S$2,700
S$2,781
S$2,835
S$2,862
S$2,862


Types of eligible transactions

Applicable for retail transactions charged to a DBS/POSB credit card or DBS Platinum Business Card or DBS World Business Card, and instruction has to be given by Principal Cardholder.
  • Unbilled retail transactions and retail transactions reflected in latest statement;
  • Minimum amount required for MP3 application is S$100 (in a single transaction);
  • A combination of 10 transactions is allowed per MP3 application.
  • Cash Advance;
  • Balance Transfer;
  • Payment via iBanking;
  • 0% Instalment Payment Plan;
  • Paypal transactions;
  • DBS/POSB Debit Card transactions.


How to apply for My Preferred Payment Plan

There are various channels which you may apply for My Preferred Payment Plan with us. The most convenient method would be via digibank mobile.

digibank mobile
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1
Step 1
Log in to digibank mobile with your Touch / Face ID or digibank User ID & PIN.
2
Step 2
Tap on More at the bottom and under Apply, select Pay By Instalments.
3
Step 3
Select Credit Card as your account type and tap Next.
4
Step 4
Under the credit card that you wish to apply the instalment on, tap Select transactions.
5
Step 5
Select the eligible transactions you wish to convert into instalments and tap Next.
(You can select up to 10 transactions in one plan)
6
Step 6
Select your preferred instalment plan and tap Next.
7
Step 7
Verify the details of your application and tap on Submit.
8
Step 8
You have successfully applied for My Preferred Payment Plan for your selected transaction(s) on your credit card.
Get the latest DBS digibank mobile app now!
  • Log in to digibank online with your User ID & PIN.
  • Complete the Authentication Process.
  • Click on Apply on the top menu and select More Application Service.
  • Under Cards & Cashline Application Services, select on My Preferred Payment Plan.
  • Under My Preferred Payment Plan, click on Apply now.
  • Click on Start.
  • Select Credit Card as your account type and click Next.
  • Under the credit card that you wish to apply the instalment on, click Select transactions.
  • Select the eligible transactions you wish to convert into instalments and click Next.
    (You can select up to 10 transactions in one plan)
  • Select your preferred instalment plan and click Next.
  • Verify the details of your application and click Submit.

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