DBS/POSB Personal Loan Reviews and Comparison - Seedly
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DBS/POSB Personal Loan

  • Overview
  • Reviews (1)
  • Questions (2)
  • More Details

Plans (5)

Slide 1 of 5
  • POSB Personal Loan (1 Year Tenure)

    8.89%
    EFFECTIVE INTEREST RATE
    3.88%
    FLAT INTEREST RATE
    1% of principal amount
    PROCESSING FEE
  • POSB Personal Loan (2 Year Tenure)

    8.89%
    EFFECTIVE INTEREST RATE
    3.88%
    FLAT INTEREST RATE
    1% of principal amount
    PROCESSING FEE
  • POSB Personal Loan (3 Year Tenure)

    7.90%
    EFFECTIVE INTEREST RATE
    3.88%
    FLAT INTEREST RATE
    1% of principal amount
    PROCESSING FEE
  • POSB Personal Loan (4 Year Tenure)

    7.71%
    EFFECTIVE INTEREST RATE
    3.88%
    FLAT INTEREST RATE
    1% of principal amount
    PROCESSING FEE
  • POSB Personal Loan (5 Year Tenure)

    7.56%
    EFFECTIVE INTEREST RATE
    3.88%
    FLAT INTEREST RATE
    1% of principal amount
    PROCESSING FEE

    POSB Personal Loan (1 Year Tenure)

    8.89%
    EFFECTIVE INTEREST RATE
    3.88%
    FLAT INTEREST RATE
    1% of principal amount
    PROCESSING FEE

Details

About 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 interest rates.

DBS and POSB jointly offers one of the best personal loans in Singapore, with competitive competitive interest rates for both locals and foreigners.

Read More about DBS/POSB Personal Loan
Reviews (1)

4.0

1 Reviews

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  • 4
    1
  • 3
    0
  • 2
    0
  • 1
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Read Review About...

easy apply

apply online

online bank

bank funds

funds arrived

arrived cashline

cashline spend

spend rainy

rainy day

day repaying

Most HelpfulMost RecentLow to HighHigh to Low
  • Updated on 01 May 2020

    Purchased

    POSB Personal Loan (1 Year Tenure)

    Easy to apply both online or at bank, Funds arrived quickly, got cashline added too so i can spend some more on a rainy day while repaying the loan.
    0 comments
    0
Questions (2)
Recent ActivityUnansweredTrending

Citi Quick Cash

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DBS/POSB Personal Loan

POSB Personal Loan

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Where would you suggest getting a personal loan from? Can you share the pros and cons of them?
Lim Qin Da
Lim Qin Da
Level 6. Master
Updated 2w ago
Hi Anon, there are several things to consider when coming to personal loans. Besides interest rates, you should also consider the type of loan that you are looking for, and whether you qualify for them. Recently, Seedly has written a guide to getting the best personal loans in Singapore with the lowest interest rates, where there are detailed explanations of everything regarding personal loans. You can refer to it here. I have pulled out this table that is used in the article, where a simple comparison is done between several loans that are available. ! If you are comparing just between interest rates for Personal Instalment Loans, CIMB Cashlite and OCBC Personal Loan offer the lowest interest rates. Do note that the respective bank terms and conditions apply. Alternatively, you may also like to refer to our Seedly Reviews Page, where the community has shared their feedback regarding the personal loans they have taken. Hope this helps!
Answer image preview
ūüĎć 0

Citi Quick Cash

Loans

CIMB CashLite Personal Instalment Loan

BOC $martLoan

Hong Leong Bank Personal Loan

HSBC Personal Loan

Maybank CreditAble Term Loan

OCBC Cash-On-Instalment

OCBC ExtraCash Loan

POSB Personal Loan

Standard Chartered CashOne Personal Loan

UOB Personal Loan

Debt

Education

Personal Loans

DBS/POSB Personal Loan

I need to take a loan for my university school fees that costs about $11k a year. Which bank have you made loans from and how was your experience with them?
CH
CH
Level 7. Grand Master
Answered 3w ago
Full time local uni? there is tuition fee loan or MOE loan which are interest free until you graduate. https://blog.seedly.sg/tuition-fee-loan-local-universities/ sad to say, if you are not working, you will hardly qualify for unsecured loans.
ūüĎć 0

Interest Rates for DBS POSB 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 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.

  • 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

  • More details on DBS POSB Personal Loan here.

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 DBS Singapore

Tel: 1800 111 1111

Contact POSB Singapore

Tel: 1800 339 6666