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DBS Cashline
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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.
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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.