DBS Cashline

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DBS Cashline Personal Loan Review 2020

Low daily interest rates from 0.06%
Low income requirement of S$20,000
No fixed repayment periods - flexibility in paying whenever
No early repayment fees
Effective Interest Rates of 20.5% and 29.8% depending on income bracket
With the highest credit limit at 10x your monthly income for high income applicants
One of the most accessible line of credit personal loans for lower income applicants
Cash loan, best suited for short-term borrowing needs

Cashline is a line of credit type personal loan scheme by DBS Singapore. With a credit line, you can conveniently access cash within your credit limit, for emergencies. It is a pay-as-you-use type of short term personal loan scheme.

Interest Rates for DBS Cashline Personal Loan

Minimum gross annual income	Effective Interest Rates (EIR) p.a.
S$20,000- below S$30,000	29.8 % p.a.
S$30,000 and above	20.5% p.a.

Effective Interest Rates (EIR) % p.a. dependent on annual income

Features: Pros and cons of DBS Cashline Personal Loan

Low daily interest rates from 0.06%
Withdraw cash of up to 4 to 10 times your monthly salary, depending on your annual income
No fixed repayment periods - flexibility in paying whenever
No early repayment fees
Effective Interest Rates of 19.8% and 29.8% depending on income bracket
For annual income between S$20,000 - S$30,000: EIR at 29.8% p.a.
For annual income above S$30,000: EIR at 20.5% p.a.
Interest is charged daily once a withdrawal from the DBS Cashline account is made
Transacts like a regular bank account - withdrawals, transfers, bill payments and more available online or at an ATM
No processing fees
One of the most accessible line of credit options for lower income applicants

Is DBS CashLine the Best Personal Loan for you?

DBS Cashline's interest rates are not the most competitive among all the line of credit loans.
Applicants with a minimum annual income of at least $30,000 may end up paying more under DBS Cashline scheme (EIR 20.5%) than other personal loans.

Eligibility: who can apply for DBS Cashline Personal Loan?

above 21 years old
annual income of at least S$20,000 for Singaporeans and PR

Other Fees

Minimum monthly repayment: 2.5% of outstanding balance ( or S$50, whichever is greater)
Minimum Interest Charge: S$10
Late payment fee: S$10
Late payment interest adjustment: Additional 8% above effective interest rate
Annual fee: S$120
Overlimit fee: S$40

Contact DBS Singapore

Tel: 1800 111 1111
More details on DBS cash loan scheme, Cashline, here.