DBS/POSB Personal Loan

Interest Rates for DBS POSB Personal Loan

Features: Pros and cons of DBS POSB Personal Loan

• Low fixed interest rate from 3.88% p.a. and Effective Interest Rate (EIR) at 7.56% p.a.
• Fixed interest rate of 11% p.a., EIR 20.01% for borrowers with annual incomes of less tan S$30,000.
• Borrow from 4x - 10x your monthly salary
• Loan duration of 1 year - 5 years
• Relatively lower income requirement of S$20,000
• Minimum loan amount of S$500
• Enjoy an easy approval process and get cash instantly when you apply online with an existing DBS or POSB account
• Ideal for higher income borrowers (with at least S$30,000 annual income per annum), as they are offered much more competitive rates.

How does DBS POSB Personal Loan compare?

• For borrowers with annual income below S$30,000, a rate of 11.00%p.a. + 4% processing fee (E.I.R. 20.01%p.a.) will be offered
• Maximum EIR may be up to 20.01% p.a., based on borrowers' loan amount, tenor and personal credit history.
• The maximum loan tenure for foreigners is 2 years

Other Fees: what else to look out for?

• Minimum monthly repayment: 2.5% of the outstanding balance for Cashline, or 3% of the outstanding balance of DBS/POSB Credit Card account ( or S$50, whichever is greater)
• Late payment fee: S$100 for Credit Card personal loan, S$120 for Cashline
• Early Termination fee: S$250
• Annual fee: S$120
• Overlimit fee: S$40
• Prevailing interest rates: 20.5% p.a. or 29.8% p.a.

Eligibility: who can apply for DBS POSB Personal Loan?

• 21 - 65 years old
• annual income of at least S$20,000 for Singaporeans and PR

Contact

• Tel: 1800 339 6666 (POSB)
• Tel: 1800 111 1111 (DBS)
• More details on DBS POSB Personal Loan here.