DBS Cashline Reviews and Comparison - Seedly
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DBS Cashline

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Personal Loans/DBS Cashline
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Plans (2)

DBS Cashline (Annual Income S$20,999 - S$29,999)

37.8%

EFFECTIVE INTEREST RATE

29.8%

FLAT INTEREST RATE

$120

PROCESSING FEE

DBS Cashline (Annual Income ≥ S$30,000)

28.5%

EFFECTIVE INTEREST RATE

20.5%

FLAT INTEREST RATE

$120

PROCESSING FEE

DBS Cashline (Annual Income S$20,999 - S$29,999)

37.8%

EFFECTIVE INTEREST RATE

29.8%

FLAT INTEREST RATE

$120

PROCESSING FEE

Details

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. 

Read More about DBS Cashline
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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.