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    DBS Credit Card Balance Transfer

    Credit Card Application

    Balance transfer is a short-term credit facility offered by many banks in Singapore which allows you to transfer all your unsecured debt into your credit card and make a single payment every month.

    DBS/POSB Balance Transfer

    DBS/POSB is offering the balance transfer option against a DBS/POSB Credit Card or a DBS Cashline Account. With this option, you can apply for a minimum transfer amount of S$500. The maximum transfer amount is up to 93% of the credit limit available on your credit card/Cashline account or S$200,000, whichever amount is lower will be considered.

    Also, 0% interest rate will be applicable on your balance transfer facility for up to 12 months. Additionally, you’ll enjoy preferential rates on the administrative fee.

    DBS/POSB Balance Transfer Promotion

    Apply Online and Win NTUC Vouchers of up to S$300

    • Apply for balance transfer option at an administrative fee of 4.5% for a 12-month tenor.
    • Apply either in a single application or a combined application (same-day) on your Cashline account or Credit Card.
    • Your application must be submitted, processed, and approved through the self-apply online platform.

    Promotion Tiers

    NTUC Vouchers Total Loan Amount Sanctioned
    S$100 S$10,000 - S$19,999
    S$200 S$20,000 - S$29,999
    S$300 S$30,000 and more

    Terms and conditions of the promotion

    • The validity of the promotion expires on 30 June 2018.
    • Your sanctioned loan amount should be a minimum of S$10,000 in a single or a combined application based on your credit card or Cashline account.
    • Only same-day combined applications will qualify for the NTUC vouchers in the respective promotion tier.
    • During the complete promotion period, you will be eligible for a one-time redemption only in either of the promotion tiers (irrespective of the number of sanctioned applications).

    For detailed terms and conditions about this promotion, please visit the bank’s official website.

    DBS/POSB Balance Transfer Charges

    Preferential fees and charges for online applications

    Fees and Charges/Tenure 6 months 12 months
    AIR or Applied Interest Rate 0% p.a. 0% p.a.
    Administrative fee (One-time) 2.5% 4.5%
    Effective Interest Rate • Cashline Account – 5.27% p.a. • Credit Card – 5.34% p.a. • Cashline Account – 5.06% p.a. • Credit Card – 5.20% p.a.
    Minimum repayment • Cashline Account – 2.5% of the outstanding balance or S$50, depending on whichever of the two is higher. • Credit Card – 3% of the outstanding balance or S$50, depending on whichever of the two is higher. • Cashline Account - 2.5% of the outstanding balance or S$50, depending on whichever of the two is higher. • Credit Card - 3% of the outstanding balance or S$50, depending on whichever of the two is higher.

    Fees and charges for offline applications

    Fees and Charges/Tenure 6 months 12 months
    Applied Interest Rate 0% p.a. 0% p.a.
    Administrative fee (One-time) 3.58% 6.38%
    Effective Interest Rate • Cashline Account – 7.52% p.a. • Credit Card – 7.61% p.a. • Cashline Account - 7.12% p.a. • Credit Card – 7.32% p.a.
    Minimum repayment • Cashline Account - 2.5% of the outstanding balance or S$50, depending on whichever of the two is higher. • Credit Card - 3% of the outstanding balance or S$50, depending on whichever of the two is higher. • Cashline Account - 2.5% of the outstanding balance or S$50, depending on whichever of the two is higher. • Credit Card - 3% of the outstanding balance or S$50, depending on whichever of the two is higher.

    Best DBS/POSB Credit Cards for Balance Transfer

    All DBS and POSB personal credit cards offer balance transfer facility at the same rates as mentioned previously. The only change being the maximum loan amount you can apply for. The maximum loan amount available to utilize for balance transfer is 93% of the available credit limit on your credit card, which will differ from card to card and other eligibility factors.

    How to Apply for DBS/POSB Balance Transfer?

    • In case you own a DBS/POSB Credit Card or hold a Cashline Account already, you can apply for DBS/POSB Balance Transfer through the iBanking login or by using your card’s PIN. For existing DBS customers, documentation will not be required.
    • In case you’re new to DBS, you will need to fill up a contact form that is available online and a representative from the bank will get in touch with you to take the application process further.

    DBS/POSB Credit Card Balance Transfer Terms and Conditions

    • Only principal credit cardholders of personal DBS/POSB Credit Cards or Cashline customers can apply for balance transfer.
    • You will not earn DBS Points or rewards by applying for balance transfer.
    • After submitting your balance transfer application, you will not be able to make changes to your transfer amount or make a cancellation.
    • If your outstanding balance exceeds your available credit limit at any point, you will be charged an overlimit fee.
    • The promotional interest rates and administrative fees are only applicable to the approved loan amount mentioned on your balance transfer application form. They will not be applicable to your existing outstanding balances or subsequent balances on your credit card or Cashline account.
    • If you do not make the minimum payment on a monthly basis, you will be subjected to a late payment fee.
    • The approval of a balance transfer application depends on the good standing of your credit card or Cashline account. The bank, however, has the right to reject your application without providing you with a reason for the same.

    For detailed terms and conditions, please visit the bank’s official website.

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