As the name of loan indicates, DBS/POSB Credit Card instalment loan will be linked to your DBS or POSB card account directly. Your loan amount will depend on the available credit limit on your DBS or POSB card.
An interest rate of 25.9% p.a. will be applicable on your DBS/POSB credit card full outstanding instalment amount.
|Late payment fee||S$60|
|Early termination fee||S$150 is applicable on every instalment loan if repayment is made in full in advance to the expiry of every instalment loan.|
|Minimum payment due (Monthly)||
Q. Can I make a partial prepayment?
A. No, partial prepayments are not accepted.
Q. How can I cancel my loan?
A. You can cancel your (one or more) instalment loan(s) at any given point of time by giving a written notice to DBS Bank in advance to 30 days.
Q. What happens when I cancel my loan?
A. Post to cancellation of your loan, the pending loan amount (s) on your instalment loans will be charged to your DBS/POSB card directly, the amount will be debited as well from the respective DBS/POSB card. DBS can decide to terminate or suspend your loan without giving you any prior notice.
Q. Can I apply for this loan if I am a supplementary DBS/POSB cardholder?
A. No, only principal DBS/POSB cardmembers qualify for this loan.
Q. Under what conditions will my loan application get approved?
A. The approval of your DBS/POSB credit cards instalment loan application is subject to the following conditions: