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If you need some urgent cash, you can choose from the various personal loan products on offer by DBS. DBS is currently offering four different types of personal loan products with competitive interest rates and flexible loan tenures of up to 8 years. For instance, with DBS Personal Loan, you will get an amount close to ten times your monthly salary. Other forms of personal loans include DBS Balance Transfer, DBS Cashline and DBS Debt Consolidation Plan.
Here's the interest rate range for various DBS loan products:
| Loan | Interest Rate | Loan Amount | Tenure |
|---|---|---|---|
| DBS Personal Loan | Starting at 3.88% p.a. (EIR of 7.56% p.a.) | Up to 10 times your monthly salary | 1 to 5 years |
| DBS Balance Transfer | 0% for a period of up to 12 months | Minimum loan amount of S$500 | 6 or 12 months |
| DBS Debt Consolidation Plan |
|
Equivalent to the total outstanding on your designated accounts | Shall be stated in the approval letter |
| DBS Cashline | 0.06% per day or 20.5% p.a. | Up to 10 times your monthly income | 1 to 5 years |
| Loan amount | Up to ten times your monthly salary |
| Interest rate | 3.88% p.a. |
| Loan tenure | 1 to 5 years |
| Processing fee | 1% of the loan amount |
When you apply for a personal loan, you will be eligible for personalised rates starting from 3.88% p.a. plus 1% processing fee (EIR of 7.56% p.a.).
To be eligible for this loan, you will have to fulfil the following eligibility criteria:
| Nationality | Singaporean/Permanent Resident |
| Age | 21 - 65 years old |
| Minimum Annual Income | S$20,000 and above |
You will require the following documents when you apply for the different types of personal loans:
| Salaried Employee | Self-employed |
|---|---|
| Latest computerised payslip or salary crediting into POSB/DBS account OR Latest one-year income tax Notice of Assessment (NOA) OR CPF contribution history statement (latest nine months) NRIC (front and back) |
Latest one-year income tax Notice of Assessment (NOA) AND NRIC (front and back) |
To submit your application, you may:
If you have any queries regarding any of the personal loans mentioned above, you can call at 1800 111 1111 or (65) 6327 2265 if you are overseas. This line will be open from Mondays to Fridays between 9:00 a.m. and 5:30 p.m. On Saturday, the line will be open between 9:00 a.m. and 12:30 p.m. The line will not be open on Sundays and public holidays.
Life can become complicated with unsettled debts. A high debt burden ratio is something to be worried about. Forget the math, which is obviously scary! Can you enjoy life knowing that you owe someone out there some money? Movies, popcorn, or foreign holidays — nothing would probably feel as magical as they should. DCP loans can help you take back control of your life by solving some of the biggest financial concerns. Try them yourself to experience the convenience.
Q. Why is there a different rate of interest on the application page?
A. The rate of interest offered to you will be based on your income profile and personal credit. This rate may not be the same as published on the bank page rate and the rate offered to other borrowers.
Q. How do I know when and how much I will have to pay with DBS Cashline?
A. The minimum payment due and the due date will be mentioned on your DBS Cashline monthly statement. It will have all the details of your deposits and withdrawals that you have made within one month from the statement date.
Q. How do I proceed if I do not have a deposit account with DBS?
A. If you do not have a deposit account with DBS, you will have to apply for one before you can apply for a personal loan.
Q. How is the DBS Personal Loan different from DBS Cashline?
A. The DBS Personal Loan is different from DBS Cashline in the following ways:
Q. What is CashCare Protector?
A. CashCare Protector is a life insurance policy that you will enjoy with DBS Cashline as an optional benefit. This policy is underwritten by Manulife (Singapore) Pte Ltd. If you opt for this policy your outstanding balance on the DBS Cashline account of up to S$100,000 will be paid off if you are diagnosed with critical or early cancer.
