Manage Your Car Loan
Are you unsure of how to manage your car loan? Let us help you out! Learn how to retrieve important details about your car loan, including your outstanding payment amount, and discover the best methods for making payments.
Note: Effective December 10 2024, the Standard Terms and Conditions governing for Hire Purchase Agreements will be updated. Refer to the latest terms and conditions.
How to check your car loan information
You may check your car loan details listed below using our DBS digibot:
- Payment Method Arrangement (Debit from DBS/POSB or Other Bank)
- Giro Start Date
- Payment Due Date
DBS digibot
How to check and pay your full settlement amount
The service listed below can be found using our DBS digibot:
- Check full settlement amount
- Request a copy to show your car dealer
- Pay full settlement amount from your DBS/POSB account
DBS digibot
How to repay your car loan
There are several ways to repay your monthly instalment. The most convenient method is linking your loan account with DBS/POSB account. For one-time payment, submit your request via DBS digibot.
digibank online (Giro arrangement for DBS/POSB accounts)
DBS digibot (DBS/POSB One-time payment)
Other banks’ online banking (FAST Transfer)
Indicate the following beneficiary’s Details:
- Bank name: DBS Bank
- Account No: 0010011324
How to request for statement of account
DBS digibot
How to request for Hire Purchase Agreement
DBS digibot
Frequently Asked Questions
When can I expect an update on my car loan application?
When is my first instalment due and how much will I have to pay?
How will I know when my GIRO arrangements have been set up?
You can check GIRO status by entering “My Car Loan Information” via our digibot.
Giro Setup Time:- DBS/POSB accounts: Setup is immediate.
- Other Banks accounts: Processing time is at least 3 weeks.
Please continue to use an alternative payment method (e.g., Digibank online) until you receive confirmation that your GIRO application has been approved.
- GIRO is not allowed for DBS Trust Minor/POSBkids Trust/POSBkids (personal)* / My Account*/ SAYE Accounts.
How will I be notified of my GIRO commencement date?
Will I receive a monthly notification before my instalment due date?
Can I pay off my car loan before the end of the loan term?
- 1% of the original loan amount
- 20% of the remaining interest rebate.
When can I transfer the ownership of my car after I have made the full payment? (This is also commonly known as the release of FORM B)
- 1 working day for cash payment/fund transfer.
- 2 working days for cheque/cashier’s order.
Why do I still see my Hire Purchase (HP) account in my digibank online/ digibank mobile after the loan has been paid off?
-
Your Hire Purchase (HP) account will be closed 2 weeks after full payment.