Multiple banks. Different interest rates. Call it a "conflict of interest".

    DBS Cashline Balance Transfer

    If your credit card or line of credit debt is mounting, you can choose to transfer your loan or card to another bank under the balance transfer plan. Under this option, you will get a low-interest period for up to 12 months, which will help you clear your debts easily.

    Like many prominent banks in Singapore, DBS also offers balance transfer to customers. DBS Cashline is a personal line of credit that gives you access to money at your convenience. DBS promises better financial control on credit card or line of credit balance transfer plans. You can transfer the balance from an existing credit line of another bank to DBS Cashline.

    Features and Benefits

    Let us discuss the key features and benefits of the DBS Balance Transfer facility:

    • You can save on interest payments for 6 to 12 months.
    • Your monthly repayment amount is as low as 2.5% of the amount for Cashline. The minimum amount the bank will charge as monthly repayment is S$50.
    • The minimum amount for balance transfer is S$500, while the maximum amount is 93% of your credit limit. If your outstanding dues towards the existing credit line are more than your credit limit, an over-limit fee will be charged as per the bank’s policies.
    • If you already are a DBS Cashline or credit card customer, then you don’t have to submit any documents while applying for balance transfer.
    • You cannot cancel a balance transfer request or change the amount you wish to transfer, after you have submitted a request.
    • The bank can reject your application if it deems you incapable of repaying the debt. This is especially applicable if the transfer amount is more than your credit limit.

    Fees and Charges

    Listed below are the fees and charges associated with a DBS Cashline account:

    Annual fees The annual fee of S$100 is waived for the first year.
    Minimum monthly payment 2.5% of the outstanding balance or S$50, whichever is higher.
    Effective Interest Rate (EIR) 29.8% p.a. for account holders with an annual income between S$20,000 to S$30,000 and 19.8% p.a. for account holders with an annual income of S$30,000 and above.
    Minimum interest charge S$10
    Late payment fees S$90
    Late payment interest calculation Additional 6% above effective interest rate.
    Overlimit fees S$40

    DBS Cashline Balance Transfer Interest Rates

    The interest rates and other fees for Cashline balance transfer plans are listed below:

    6 months 1 year
    Interest Rate (p.a.) 0% 0%
    Processing Fee (online applications) 2.5% 4.5%
    Processing Fee (offline applications) 3.58% 6.38%
    EIR (p.a.) for DBS Cashline (online applications) 5.27% 5.06%
    EIR (p.a.) for DBS Cashline (offline applications) 7.52% 7.12%

    DBS Balance Transfer Promotion for Cashline

    DBS is running two promotional offers for its balance transfer programme. These are applicable only for online applications received and approved by 31 December 2017. The promotional offers are:

    • Pay only 4.5% as processing/administration fee if you choose a 1-year balance transfer plan.
    • Get NTUC vouchers worth up to S$200 depending on your balance transfer amount.

    You are eligible for the NTUC voucher gift if you apply for both , credit line and credit card balance transfers either on the same day or in the same application form. The vouchers are given as shown below:

    Loan amount Voucher value
    S$8,000 to less than S$15,000 S$60
    S$15,000 to less than S$25,000 S$120
    S$25,000 or more S$200

    DBS Balance Transfer eligibility for Cashline

    For a DBS Balance Transfer, you must have a DBS or POSB Cashline account and a DBS or POSB deposit account for the transfer amount. Applicants should meet certain eligibility criteria to qualify for DBS Cashline account such as:

    • Nationality: You must be a Singapore citizen or a permanent resident.
    • Age: 21 years old or above.
    • Income: You must have a minimum annual income of S$20,000.
    • Meet all the requirements of DBS Cashline.
    • Transfer an amount not higher than four times your month’s salary or your credit limit.

    Documents Required for DBS Balance Transfer

    If you already have a Cashline or credit card account with DBS or POSB, you need not submit any documents. But if you don’t have either of these accounts, then the following documents will be required:

    For Salaried Employees:

    • Copy of NRIC (front and back)
    • Passport copy (or foreigners)
    • Employment pass/Work permit (for foreigners)
    • Latest payslips (computerized)
    • Latest Notice of Assessment from the Income Tax department OR Statement of CPF Contribution History
    • Bank statement for the most recent three months

    For persons with variable pay or commission-based employees:

    • Copy of both sides of the NRIC AND
    • CPF Contribution History Statement for the last 1 year OR
    • Income Tax Notice of Assessment for 2 years

    For self-employed persons:

    • Copy of both sides of the NRIC
    • Income Tax Notice of Assessment for 2 years

    How to apply for DBS Balance Transfer

    You can apply for DBS Balance Transfer either online or offline. For online application, visit the DBS website, navigate to the Balance Transfer page, and click on the ‘Apply now’ button. For offline applications, you can go to your nearest DBS or POSB branch with your documents and submit the application form.


      Q. Can I do balance transfer to DBS for more than one credit line account?

      A. Yes. But this is subject to how much you owe on each line of credit. If the balance on the different credit lines that you wish to transfer is not more than your four months’ salary or available credit limit, then it is perfectly all right to transfer the balance of more than one account to DBS.

      Q. Can I use the balance transfer facility for just 3 months?

      A. No. The minimum tenure for DBS Balance Transfer is 6 months.

      Q. How do I pay the processing fee?

      A. DBS will deduct the processing fee directly from the Cashline account.

      Q. How will DBS Balance Transfer help me save on my payments?

      A. The interest payments you make during your balance transfer period will be lower than the payments you are making on your unsecured credit lines currently. This is because lines of credit usually charge interest rates between 19% p.a. and 30% p.a., whereas DBS Balance Transfer charges an EIR between 5.06% p.a. and 7.61% p.a.

      Q. Will I continue earning reward points or cash rebate on DBS Balance Transfer?

      A. No. You will not earn any reward points or cash rebate on your balance transfers.

      How does the Cashline account function?

      DBS Cashline is a revolving credit facility, or a personal line of credit. You will be allowed a credit limit as per your monthly salary, and you can withdraw the amount you need at the moment from the account. As you withdraw money, the credit limit goes down, and as you make repayments, the credit limit goes up by as much amount as you pay back.

      How do I keep track of the activity on my Cashline account?

      You will get a monthly Cashline account statement, through which you will know the minimum repayment required, the outstanding balance, and available credit limit.

      Can I make online payments to the Cashline account?

      Yes. You can make payments through iBanking or DBS Digibank app.

      What other payment options do I have?

      You can also make repayments in the following ways:

      Through AXS stations

      Via DBS or POSB ATMs

      Using cheques

      Paying cash at DBS or POSB branches

      Can I increase my credit limit on Cashline?

      You can request for a credit limit review by filling up the credit limit review form and sending it to DBS. You’re eligible for a credit limit increase if your monthly salary has been hiked or if your credit use has been exceptionally good.

      Is there any way to insure my Cashline credit?

      You can choose to buy the CashCare Protector credit life protection insurance by Manulife Singapore. This policy will take care of your outstanding credit balance on Cashline – up to S$100,000 – if you die, become permanently disabled, or contract a terminal illness or cancer.

    Other products offered by DBS in Singapore

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