POSB is a famous bank in Singapore that offers several consumer banking services. It provides services to customers as a part of DBS, another popular bank in Singapore. POSB and its subsidiaries were acquired by DBS. Both the banks provide similar banking services now.
You can get great cash advances from DBS or POSB in Singapore within your available credit limit. With your DBS or POSB credit card, you can obtain instant cash whenever you are in need of funds. When you go for this type of loan, you can repay your loan flexibly. You can choose your repayment mode according to your financial condition. You can repay your loan in installments. This loan is introduced so that you can take a loan with a DBS or POSB credit card.
A credit card installment loan is a loan that is linked to the borrower’s credit card. It is repaid within a particular period in different installments. The installment periods are usually fixed in nature. The loan amount of such a loan is usually determined by the available credit limit of the borrower. The borrower can also obtain cash instantly with the help of this product.
Let us take a look at the features and benefits of DBS or POSB Credit Card Installment Loan:
The interest rate is calculated through a flat rate method for a certain period and this will remain the same throughout the loan period. Let us take a look at the interest rates for DBS or POSB Credit Card Installment Loan:
|Loan period||Effective interest rate||Interest rate|
|12 months||16.20% p.a.||6.99% p.a.|
|24 months||14.66% p.a.||6.99% p.a.|
|36 months||13.96% p.a.||6.99% p.a.|
|48 months||13.50% p.a.||6.99% p.a.|
|60 months||13.14% p.a.||6.99% p.a.|
Let us take a look at the list of fees and charges for DBS or POSB Credit Card Installment Loan:
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You can apply for DBS or POSB Credit Card Installment Loan by visiting the official website of the bank. You can apply online or by calling the customer care number or by visiting the nearest DBS or POSB bank branch.
No, there is no minimum withdrawal amount when you select the cash advance withdrawal. You will be allowed to withdraw only up to S$3,000 on a single day from any DBS or POSB ATM.
You should call the POSB Customer Service Hotline. They will give you your PIN and then you can make your cash advance withdrawal.
Yes, you will be required to pay a processing fee of 2% while applying for this installment loan.