• Personal Loan BYTES FROM OUR KITCHEN

    Apply DBS Personal Loans

    DBS Bank is one of the largest bank across the globe which offers innovative and customisable financial solutions and products for its customers. This bank was established in the year 1968 by the Government of Singapore and the sole idea or purpose of establishing this bank was to take over the industrial financing work from Economic Development Board. Currently, the bank has more than hundred branches all over Singapore. According the assets it has, it is the biggest financial institution in South East Asia. It dominates the financial market in several things that include treasury and markets, consumer banking, asset management, debt fund raising, equity, security brokerages, etc.

    If you are planning to borrow money at low rates of interest and pay it back with monthly instalments, then personal loan can definitely prove to be good option for you. May it be planning an exotic wedding or going for a long awaited vacation within your family, a personal loan can help you with anything. The DBS personal loan offers a lot of flexibility and is tailored to meet the requirements and needs of the changing customers. The personal loan is called Cashline and has different products under its name.

    Why choose DBS Bank Personal Loans?

    DBS Bank cares about its customers and provides financial products keeping in mind the different types of consumers. This makes their products and services extremely flexible, customisable and innovative. The personal loan offered by this bank is extremely beneficial as the rate of interest associated with it pretty low. You can avail the cash from the ATMs and the cheque book that comes complimentary with it allows you to make payments too, as per your choice and convenience.

    Types of products under the Personal loan offered by DBS bank

    There are three products offered by DBS Bank under their portfolio of personal loans.

    • DBS Cashline
    • DBS Cashline Balance Transfer
    • DBS Cashline Instalment Loan

    DBS Cashline

    The DBS Cashline offers you rates of interest that are as low as 8.88 percent for the very first year. If your income is equal to or above SGD 120000, you can a loan of 10X your annual income or 4X your monthly income. You can avail cash quickly from any POSB or DBS ATMs. You can avail a complimentary cheque book which allows you to make payments to anyone, anytime. The annual fee for the first year is waived off. The Cash Care Protector feature makes sure that you can enjoy the peace of mind that you deserve.

    DBS Cashline Balance Transfer

    With the Cashline Balance Transfer, you can enjoy 0 percent rate of interest for twelve months. The repayment options are also pretty much flexible. Pay as less as SGD 50 or 2.5 percent of the total balance mentioned in the statement, whichever is more. All your outstanding balances can be consolidated into DBS Cashline. This gives you a lot of financial control.

    DBS Cashline Instalment Loan

    The DBS Cashline offers you a loan amount that is within the credit limit and a preferred tenure of repayment. The tenure can range between 12 to 60 months. You can get complete financial control with this product as it is extremely convenient and structured.

    DBS Bank Personal Loan Interest Rates

    The interest rates for the personal loan products are as follows.

    DBS Cashline Interest Rate

    Singaporean OR Permanent Resident
    Gross Annual Income SGD 20,000 - below SGD 30,000 SGD 30,000 & above
    Effective interest rate 25.8 percent per annum 8.88 percent per annum for the first 12 months. Prevailing Interest rate of 19.8 percent per annum will apply after that
    Minimum monthly repayment 2.5 percent of the outstanding balance amount or SGD 50, whichever is more
    Minimum interest charges SGD 10
    Late payment fees SGD 80
    Late payment interest adjustment Additional 6 percent above the effective interest rate (effective interest rate is also referred to as Prevailing Interest Rate)
    Annual fee SGD 80 (waived off for first year)

    DBS Cashline Balance Transfer Interest Rates

    Promotional interest rates

    Tenure 6 months 12 months
    Applied rate of interest (per annum) 0 percent 0 percent
    Administration fee 2.50 percent 4.50 percent
    Effective interest rate (p.a.)* 5.27 percent 5.06 percent

    Interest savings

    As compared to interest rate of 24 percent per annum on the credit cards of other banks, you can actually save a lot more with the promotional Balance Transfer rates of interest.

    For Balance Transfer amount of SGD 10,000 6 months 12 months
    Interest charges SGD 0 SGD 0
    One-off administration fees SGD 250 SGD 450
    Interest from credit cards of other banks at 24 percent per annum SGD 1,200 SGD 2,400
    Your savings (up to) SGD 950 (79 percent savings) SGD 1,950 (81 percent savings)

    DBS Cashline Instalment Loan Interest Rates

    Promotional interest rates with DBS Cashline Instalment Loan:

    For Cashline customers with annual income of at least S$30,000

    Tenure A.I.R (percentage per annum) Processing fee E.I.R (percentage per annum) Monthly instalment amount for a loan of SGD 5,000
    12 months 6.99 2 percent 16.20 SGD 446
    24 months 6.99 2 percent 14.66 SGD 238
    36 months 6.99 2 percent 13.96 SGD 169
    48 months 6.99 2 percent 13.50 SGD 134
    60 months 6.99 2 percent 13.14 SGD 113

    For all the Cashline customers with an annual income lesser than SGD 30,000

    Tenure A.I.R percentage per annum Processing fee E.I.R percentage per annum Monthly instalment amount for loan of S$5,000
    12 months 11.00 4 percent 26.62 SGD 463
    24 months 11.00 4 percent 23.26 SGD 255
    36 months 11.00 4 percent 21.74 SGD 185
    48 months 11.00 4 percent 20.75 SGD 150
    60 months 11.00 4 percent 20.01 SGD 130

    Process - How to apply for DBS Personal Loan?

    If you want to apply online for a personal loan from DBS Bank, you can do it online on their official website. It is quick and hassle free too. All you need to do is fill in all the required details on the bank’s portal and you will get a call from the bank’s representative and email notifications about the initiation of the loan process.

    You could also leave your details with an agent from the bank and they will call you as soon as possible. If you wish to have a telephonic conversation with one of the bank representatives when you apply for the personal loan, this this could prove to be a good option for you.

    Another common way through which you can apply for the personal loan from DBS Bank is by walking into the closest branch and filling up the application form directly at the bank. The bankers will be there at your service to clarify all your doubts.

    Different Services Offered by Cashline

    There are different services that are offered by DBS Bank with its Cashline products. They are as follows.

    • DBS Quick Credit App – This service allows you to make an application for a personal loan anytime, anywhere
    • DBS Cashline Credit Limit Increase – With the DBS Cashline Credit Limit Increase helps you to increase your credit limit and lets you enjoy greater freedom from a financial perspective.
    • DBS Cashline Auto Top up – You can avail the assurance of minimum balance which can be used to cover all the necessary expenditures
    • Cash Care Protector – In case you meet with an unforeseen and unexpected situation, the Cash Care Protection plan clears out all outstanding amount that is there on the DBS Cashline

    Eligibility

    All Singaporean permanent residents and citizens of Singapore, who are above the age of 21 years and have an annual income of SGD 20,000 or more can apply for a personal loan from DBS Bank

    Documentation

    The following documents are absolutely necessary when applying for a personal loan from DBS Bank, Singapore
    Singapore Citizen / Singaporean Permanent Resident

    NRIC (Both Front and Back side)

    Documents of Income (any 1 of the following)

    Salaried Employees

    Latest twelve months’ CPF Contribution History Statement

    Latest Payslip

    Salary Crediting to DBS or POSB Bank account

    Income Tax Assessment Notice with either A / B / C

    Commission / Variable based Employees

    Latest twelve months’ CPF Contribution History Statement

    Latest two years’ Income Tax Assessment Notice

    Self Employed

    Latest two years’ Income Tax Assessment Notice

    Explore the Process How to Apply For A Personal For Other Banks:

    • How to Apply for HSBC Personal Loan?
    • How to Apply for RHB Personal Loan?
    • How to Apply for OCBC Personal Loan?
    • How to Apply for UOB Personal Loan?
    • How to Apply for Bank of China Personal Loan?
    • How to Apply for Citibank Personal Loan?
    • How to Apply for Maybank Personal Loan?
    • How to Apply for Standard Chartered Personal Loan?
    • How to Apply for POSB Personal Loan?
    • How to Apply for ICBC Personal Loan?
    • How to Apply for CIMB Personal Loan?
    • How to Apply for TCC Personal Loan?

    Frequently Asked Questions

    1. What all can I do with the Cashline in Internet Banking?
    2. You can do different things using the Cashline in Internet Banking. They are as follows.

      • Bill payment
      • Perform transfer of funds
      • Top up Cashline
      • Request for IB e cheque
      • Add GIRO arrangement
    3. After the approval of my Cashline account, could I drawdown cash from that account?
    4. Yes. After your Cashline account gets approved by the DBS Bank you can avail this service from Cashline.

    5. What is the minimum limit on income to apply for DBS Cashline?
    6. For a Singaporean resident or citizen, the minimum limit on income to apply for DBS Cashline is SGD 20000.

    7. What is the minimum age to be eligible for a personal loan from DBS?
    8. The minimum age to be eligible for a personal loan from DBS is 21 years.

    9. What are the services offered by DBS Cashline?
    10. The different services offered by DBS Cashline are as follows

      • DBS Quick Credit App
      • Cash Care Protector
      • DBS Cashline Credit Limit Increase
      • DBS Cashline Auto Top Up

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