• DBS Cashline Instalment Loan

    Personal Loan BYTES FROM OUR KITCHEN

    DBS Cashline Installment Loan Singapore

    DBS is a very popular bank in Singapore that offers a wide variety of financial products to its customers. The bank offers deposits, credit cards, debit cards, insurance plans, loan schemes, and much more. The bank is well known for its loan schemes options. DBS Cashline Installment Loan is one of the unique loan schemes offered by the bank. DBS Cashline Installment Loan offers a standby line of credit that gives the borrower access to funds anytime anywhere.

    Features of DBS Cashline Installment Loan

    Listed below are some of the important features of DBS Cashline Installment Loan:

    • It is a personal loan scheme.
    • Offers loan amount up to 4 times the borrower’s monthly salary.
    • Offers loan amount up to 10 times the borrower’s monthly salary if the borrower’s income is above S$120,000.
    • Offers quick access to cash through funds transfer.
    • The scheme charges interest only on the amount you use.
    • Offers a competitive rate of interest.
    • The loan comes with fixed regular monthly payments.
    • Same day approval of the loan.
    • Instant fund transfer to any bank account as soon as the loan is approved.
    • Hassle free application process.
    • Easy and minimal documentation.
    • Quick approval.
    • Available to Singaporeans and foreigners.

    Benefits of DBS Cashline Installment Loan

    Listed below are the benefits of DBS Cashline Installment Loan:

    • Offers high loan amount up to 4 times the borrower’s salary.
    • Offers loan amount up to 10 times the borrower’s monthly salary if the borrower’s income is above S$120,000.
    • Offers quick access to cash through funds transfer, complimentary chequebook or withdraw from DBS/POSB ATMs islandwide with no withdrawal fee.
    • Quick approval- The loan is approved on the same day provided that all relevant documents have been submitted.
    • Offers a long tenure of up to 3 years.
    • Available to Singaporeans and foreigners.
    • The loan comes with fixed regular monthly payments.
    • Low rate of interest.

    Eligibility criteria of DBS Cashline Installment Loan

    Given below is the eligibility criteria of DBS Cashline Installment Loan:

    • The applicant has to be a Singaporean national or a resident of Singapore.
    • The applicant has to be earning a minimum annual income of S$20,000- S$30,000 in case of a national and above S$30,000 in case of a resident.
    • The applicant should possess all the required documents for the loan scheme.

    How to apply for DBS Cashline Installment Loan?

    There are two ways through which one can apply for DBS Cashline Installment Loan- Online and offline.

    • Online- The borrower can apply for the loan online by visiting the bank’s official website and applying for the product directly online. The applicant has to fill in the application online and upload relevant documents in order to apply online. The bank usually has offers like cashback when you apply for the loan online on the official bank website. DBS Cashline Installment Loan scheme can also be applied for through third party financial websites.
    • Offline- The borrower can apply for the loan offline by visiting one of the bank’s branches and applying for the loan by filling in the form at the branch.

    Fees and charges of DBS Cashline Installment Loan scheme

    • Interest rate- 19.8% p.a. to 29.8% p.a.
    • Minimum monthly repayment- 2.5% of outstanding balance or S$50, whichever is higher.
    • Processing fee: S$100.
    • Annual fee- S$100.
    • Overlimit fee- S$40.
    • Late Payment fee: S$90.
    • Early partial or full payment: 3% of the amount to be repaid.
    • Restructuring fee: 3% of the loan amount.

    Required documents for the loan scheme

    Given below is a list of documents required for the loan scheme:

    • Proof of nationality.
    • Proof of income.
    • Proof of address.
    • Payslip.
    • 3 months of bank statements.
    • Other relevant documents.

    How to manage your DBS Cashline Installment Loan?

    • Using iBanking Login: Access to your iBanking using your iBanking username and password to apply for Cashline.
    • Using Debit/ATM Card PIN: Input your Debit or ATM Card Number and the PIN number which is used in ATM. For customers who only has a Personal Credit Card with us, please use Credit Card as the selection.
    • If you are new to DBS as a customer: Select the last button to fill up the online form.

    Explore Other Products offered by DBS Bank:

    Frequently asked questions?

    1. What is the loan amount offered for an applicant earning income below S$120,000?
    2. An applicant earning below S$120,000 is eligible for a loan amount that’s equal to 4 times their monthly salary.

    3. Are foreigners eligible for the loan?
    4. Yes foreigners are eligible for the loan scheme provided that they fulfill the eligibility criteria..

    5. What is the maximum loan amount offered by the bank?
    6. The bank offers a maximum loan amount up to 4-10 times the applicant’s salary.

    Read More about Personal Loans in Singapore

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