facebookDBS Cashline Loan Reviews and Comparison - Seedly

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Personal Loans/DBS Cashline Loan
Personal Loans/DBS Cashline Loan
3.0
1 reviews
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Summary

DBS Cashline Personal Loan Review 2021

  • 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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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

Reviews (1)

3.0

1 Reviews

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      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.

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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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