DBS Cashline Loan
- Key Features
- Reviews (3)
- Discussions (0)
- More Details
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Summary
DBS Cashline Loan Review 2024
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
Loan Features & Details
1) Key Features
- Interest rate from 20.5% p.a
undefinedundefined - Minimum monthly repayment of 2.5% of outstanding balance of S$50, whichever is higher
2) Eligibility
- Age: 21 to 70 years old
- Citizenship: Singaporeans and PRs
- Minimum annual income: S$20,000
3) Fees
- Minimum interest charge S$10
- Late payment fee: S$120
- Annual fee: S$120
- Overlimit fee: S$40
4) Application Process
How to apply?
- Head over to DBS’ website to apply online
- You may apply via your iBanking login or using your Debit/ATM card number and PIN to apply
- Complete loan application form and click Submit
Supporting documents
- Existing DBS Credit Card/Cashline customers do not need to resubmit supporting documents
- Salaried employees
undefinedundefinedundefinedundefined - Variable/Comission-based employees/Self-employed
undefinedundefined
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Summary
DBS Cashline Loan Review 2024
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
Loan Features & Details
1) Key Features
- Interest rate from 20.5% p.a
undefinedundefined - Minimum monthly repayment of 2.5% of outstanding balance of S$50, whichever is higher
2) Eligibility
- Age: 21 to 70 years old
- Citizenship: Singaporeans and PRs
- Minimum annual income: S$20,000
3) Fees
- Minimum interest charge S$10
- Late payment fee: S$120
- Annual fee: S$120
- Overlimit fee: S$40
4) Application Process
How to apply?
- Head over to DBS’ website to apply online
- You may apply via your iBanking login or using your Debit/ATM card number and PIN to apply
- Complete loan application form and click Submit
Supporting documents
- Existing DBS Credit Card/Cashline customers do not need to resubmit supporting documents
- Salaried employees
undefinedundefinedundefinedundefined - Variable/Comission-based employees/Self-employed
undefinedundefined
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
3.0
3 Reviews
High to Low
Posted 30 Dec 2023
Purchased
DBS Cashline (Annual Income S$20,999 - S$29,999)
[Application Process] [Customer Service] I just want to take a loan e please contact me [Customer Service] I just need a 5000$ I want it if any employee is there please contact me ASAP0
What are your thoughts?Posted 15 Jul 2022
Purchased
DBS Cashline (Annual Income ≥ S$30,000)
[Application Process] Very fast application process, usually approve within a day or the next day. [Repayment Process] It's a bit of a dark pattern—you have to be aware of when the payment is. I have borrowed from licensed moneylenders and even they would send SMS on instalment reminders. For DBS, you would have to be aware of it (of course you should be aware of It, but sometimes it can be difficult to remember when you're busy and tired). [Others] The interest rate is insanely high, so it might not be suitable for big loans. This is really good for making through a few weeks or a month when finances are tight.0
What are your thoughts?Posted 01 Nov 2022
Purchased
DBS Cashline (Annual Income S$20,999 - S$29,999)
It's very scary experience for me. I applied onlins for business and wanted to loan 15k to 30k. During application, everything seems fine and it looks like I'm able to borrow.. After application is done. The next thing I know . Boom 4k+ went into my account. And my cash line was approved. But it was not the amount I chosen. Called DBS and manage to get it resolve.. But I feel that they should follow what you chosen and reject the application if they are unable to give you the sum you wanted and not just give you what they can give u0
What are your thoughts?
Discussions (0)
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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
Fees for DBS Cashline Personal Loan
- 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
- Visit DBS Official website for more details on DBS cash loan scheme Cashline.
Contact us at [email protected] should you require any assistance or spot any inaccuracies.
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