Personal Loans Online Same Day Deposit – With a fixed interest rate of minimum 3.88% p.a. + 1% processing fee (EIR 7.56% p.a.) and loan terms from minimum 1 year to maximum 5 years
New feature! – You do not need to provide your income documents when you apply with Singpass through Myinfo.
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Enjoy customized interest rates as low as 3.88% p.a. + 1% handling fee (EIR 7.56% p.a.)! Please note that the maximum EIR can be 20.01% p.a. Based on your loan amount, tenor and personal credit history.
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Interest rates and fees indicated are the lowest published rates and may vary from what you are offered. The interest rate and fees offered to you will be displayed during your application and will be based on your personal credit and income profile, subject to the bank’s discretion.
AIR – Applied Interest Rate. This is the rate that is used to calculate the interest rate you pay on your loan. Interest on the loan must be calculated based on the flat rate base method (simple interest) by multiplying the principal loan amount by the specified annual applied interest rate for the full term of the loan.
EIR – Effective Interest Rate. This is a rate that reflects the true cost of a loan based on the stated balance (like home loans) and is useful for comparing different loans to get the best rate.
Internet exclusive! Apply for a personal loan today with promo code “PL” and get up to 2% cashback on your approved loan amount! Valid for loan amounts of S$10K and above
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Terms and conditions apply on personal loans up to 2% cashback promotion. Valid for loan amounts of S$10,000 and above. Applications through other channels (ie branch sales staff etc.) will not be considered. Promotion ends 31
A DBS/Personal Loan will require (i) a cash account and/or credit card account to provide the loan amount, and (ii) a DBS/Deposit Account (except Joint All, Trust, MSA, SAYE and Current Accounts) Expenses for Loans (see Frequently Asked Questions tab for more details).
If you do not have a current account/credit card, you will need the following documents.
Please note that applications not accompanied by required documents or with incomplete information will delay processing.
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If you do not have an existing DBS/Deposit account, you can select your desired account here and apply online.
After submitting and approving a DBS/Personal Loan on your Cashline and/or Credit Card, you will receive another SMS confirmation that the DBS/Personal Loan has been approved. Please check your selected account for approved loan amount credit.
Cash Line is a backup credit line account, given the credit limit used for DBS / Personal Loans.
Accepting loan amounts for Singapore citizens or Singapore permanent residents of S$3,000 and above, the loan tenure is between 1 to 5 years.
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For a non-Singapore citizen/permanent resident with a loan amount of S$3,000 and below, the loan tenure is between 1 and 2 years.
You have the flexibility to use the available credit limit (up to 95%) to take out another DBS/personal loan or you can use the available credit limit as a backup line for short-term use.
You can use the available credit limit (up to 95%) to take out another DBS / personal loan or use it for other credit card purposes such as retail transactions.
You can select your desired account here and apply online. Once your account is opened, you can apply for a DBS / personal loan.
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Suppose you borrow $5,000 at 3.88% p.a. + 1% handling fee for 1 year (EIR 8.89% p.a.), your monthly payment will be approximately $432.83.
Monthly interest and principal are split separately; In earlier installments, a larger portion of your monthly installment goes towards paying the interest on the loan. The interest component will gradually decrease with each installment (see below for an example of repayment).
EIR: Effective Interest – Based on 60-month loan tenure and inclusive of 1% processing fee (for applicable interest: 3.88% p.a.)
Please note that for loans approved after 21:00 at the end of the month (e.g. 31 March), funds will be deposited into fixed deposit only on the following day. If the following day falls on a Sunday or holiday, the credit will be due on the next following day (eg Monday to Saturday).
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From 12 November 2022, a 6-month loan term will be available on the DBS/website and online banking application for new personal loan customers who do not hold an existing DBS/credit card and cashline account.
In addition, due to system maintenance from November 12, 2022, some loan options may not be available to all users. Please apply for a 1 or 2 year loan term during this period through the Digibank application.
We are working to make the above option available to all customers as soon as possible in the near future.
Beginning April 1, 2016, if you would like a free credit report, you can obtain it within 30 calendar days of the date of approval or denial of this application through the following credit bureau websites. Alternatively, you can bring the approval or rejection letter and your NRIC to the next credit bureau registered office to get a free credit report.
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* Clarification: We would like to clarify that the “Free Credit Bureau Report” is limited to applying for a new product such as a cash line, credit card, further study assistance. Applications such as credit limit increases, balance transfers / split personal loans from existing products and existing primary cardholders applying for another card are not eligible to receive a free credit report. With many types of personal loans available, it can get a little more. Confusion Here’s everything you need to know about personal loans to make smart financial decisions.
Read on for the latest Personal Promotion Loans in Singapore and the best money saving tips. Last updated on November 1, 2022.
Balance Transfer vs. Personal Loan: Which is Better for You? Sometimes, you find yourself facing a growing credit card balance or the need for a quick infusion of funds. To solve this, there are two common options that you can use – a balance transfer or a personal transfer loan. But which is the better choice for you?
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This is how much you can borrow from different lenders in Singapore Before taking out a car loan, mortgage, renovation loan or personal loan, check out the loans to know how much you can borrow.
Whether you are applying for your first personal loan or looking to take out a second loan, you can find useful information and resources here. Read more about personal loan basics and how it works, personal loan reviews and comparisons, as well as the latest personal loan promotions and offers.
There are different types of personal loans in Singapore that are suitable for different occasions and different needs. Here are 6 types of personal loans you can take in Singapore. Compare the most attractive loan offers and the loan that suits you:
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If you are looking to apply for a personal loan and want to find out more about interest rates, eligibility and loan repayments, you can read all of these useful articles to help you make the best decision for your personal loans.
There are many types of personal loans available in the market. Explore and compare different types of personal loans to see which one is the best fit for you.
Personal loans can be useful in times of financial difficulties. Some of these situations include sudden medical expenses, weddings, funerals, divorces and more. Make sure that the bank will not require you to get a private personal loan and share the reason for taking it during the approval process.
A personal loan offers interest rates that vary between 3.5% and 11% per annum. When applying for one, also consider the following key features:
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The annual interest rate is the interest rate declared by the bank. The EIR is a better estimate of the interest rate you’re actually getting. The EIR is often higher than the annual interest rate because it takes into account other costs such as transaction fees and administration fees. They will add to your final payment.
A borrower can apply for an installment loan by filling an application at the bank. Banks will then review your credit history and decide on the down payment, loan tenure, payment schedule and repayment.
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