DBS Personal Loan Singapore Review

DBS Personal Loan Singapore Review

POSB and DBS Personal Loan provides instant cash disbursement upon loan acceptance even those with annual incomes below $30,000 but charges borrowers higher rates than its competitors. 

POSB and DBS Personal Loan Pros:

  • It can be up to ten times your monthly salary
  • When you apply online, it’s assured you’ll get the cash quickly into your account.
  • With fixed interest rates and loan tenures from up to five years, repayment is deemed to be affordable.

POSB and DBS Personal Loan Cons:

  • This plan won’t be ideal for those who require personal loans with tenures over five years
  • POSB and DSB charge processing of 1 percent of your total loan amount.
  • It also requires an early redemption and late payment fees.


DBS Personal Loan Features

With POSB and DBS Personal Loan, borrowers can get cash of nearly up to four times the monthly salary and ten times if your annual income is higher than $120,000. 

It’s guaranteed that existing cash line or credit card customers and those on a credit salary deposit account can enjoy instant approval and get their money instantly. 

The bank also provides monthly instalments of one to five years. While there is an E.I.R. from a minimum of 7.56% per annum, GIRO payment arrangements are available as well.

  • Up to ten times your monthly salary
  • Instant cash into your account upon online application
  • With fixed interest rate from as low as 3.88%p.a. + 1% processing fee (E.I.R 7.56%p.a.) and loan tenures from one to five years.

Types of DBS Personal Loans

  • DBS Personal Loan – This deal allows borrowers to get instant money after an online application with an affordable fixed repayment. 
  • DBS Balance Transfer – Apply easily online and enjoy getting cash for your urgent needs on  time. This plan secures a flexible repayment wherein you can pay as little as $50 or the minimum due on your balance with an interest rate of 0% for up to 12 months.
  • DBS Cashline – You can access cash fast with this deal at low daily interest rate of 0.06% and flexible repayments. 
  • DBS Cashline Auto Top-Up – Borrowers can link up to 10 DBS/POSB Accounts (5 Savings and 5 Current Accounts) to your DBS Cashline Account wherein the cashline can auto top-up the designated Savings/Current Account(s) with the amount stated, when it falls below the minimum balance.

How Does DBS Personal Loan Compare With Other Banks?

For a clearer view of their comparison, we have trimmed down features from other banks below:

Bank Deals Interest Rate Total Amount Payable Processing Fee Per Month
DBS Personal Loan 3.88% S$11,164 S$100 S$310
Standard Chartered CashOne 3.48% S$11,044 S$0 S$307
HL Bank Personal Loan 3.88% S$11,164 S$150 S$310
POSB Personal Loan 3.88% S$11,164 S$100 S$310
HSBC Personal Loan 3.7% S$11,110 S$0 S$309
UOB Personal Loan 3.68% S$11,104 S$100 S$308

What Makes DBS Personal Loan Attractive?

Among these banks, DBS offer interest rates from 3.88%, the lowest advertised flat rate on the market, and instantly makes these loans some of the cheapest available. It also assures instant cash disbursement to approved online applicants and the largest possible personal loans of up to 10x monthly salary, to those with annual incomes of at least S$120,000. 

This deal is open for Singaporeans and permanent residents with a minimum annual income of $30,000. Its maximum loan tenure is for five years while the processing fee is at $100. 

Who Can Apply?

  • Singaporean Citizen or Singapore Permanent Resident
  • 21 – 65 years old
  • Minimum Annual Income S$30,000

DBS/POSB Personal Loan will require (i) a Cashline and/or Credit Card account to grant the loan amount, and (ii) a DBS/POSB deposit account (excluding Joint All, Trust, MSA, SAYE and POSB current accounts) for loan disbursement.

If you do not have an existing Cashline or Credit Card Account, you will need the following documents:

  • NRIC
  • CPF Contribution History Statement (latest nine months)
  • Latest one year Income Tax Notice of Assessment (NOA)+
  • Latest Computerised Payslip of Salary Crediting into POSB/DBS account

How to Apply?

You can do an online DBS/POSB Personal Loan application in two easy ways:

  1. Using the iBanking Login: Enter your iBanking username and password to apply for an online Personal Loan application.
  2. Using your Card and PIN: Input your Debit or ATM Card Number and the PIN number (the same PIN that is used for ATM input). For customers with only Personal Credit Card and no Debit or ATM Card, please use Credit Card as your selection.


Keep in mind that it’s always best to compare rates, terms and other fees beforehand. Before applying, make sure you can use your money for the purpose you already have in mind. 

Furthermore, do relevant inquiries and avoid predatory loaners. It’s ideal to verify your loaner whether they are listed under the Ministry of Law and check reliable reviews as an assurance.  Finding quality loaners can help you identify an option that will definitely work for you.

To know more about better options, visit Instant Loan now. Instant Loan is a trustworthy loan comparison site dedicated to comparing the cost of financial products and other services in Singapore. 


Instant Loan CTA Banners DesktopInstant Loan CTA Banner 2

Get Your Tailored Personal Loan Quotes

Complete the enquiry form to receive instant loan quotes now!

  • This field is for validation purposes and should be left unchanged.