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DBS Balance Transfer Review

Enjoy an introductory 0% interest rate and access short term funds with the DBS Balance Transfer facility.

The DBS Balance Transfer facility is a personal loan product that allows customers to transfer their outstanding balance amount from their available credit limit to a single account within the bank 0% interest rate. Depending on your needs, you can commit to either a 6- or 12-month loan tenure.

If you’re looking to access instant cash as well as make your debt more manageable, consider the DBS Balance Transfer facility.

Pros and cons of the DBS Balance Transfer


  • 0% interest rate for up to 12 months
  • Fast and simple online application
  • Flexible repayments


  • Minimum 2.5% processing fee
  • Higher balance transfer fees than competitor banks

Main points to consider with a DBS Balance Transfer

DBS balance transfer is a short-term cash facility that allows its existing credit card and Cashline account holders to transfer the outstanding balance amount from their available credit limit to a single account at a lower interest rate.

Before you apply for a balance transfer with DBS, do know that the balance transfer rates and fees are higher than other competitor banks. However, it is worth considering if you’re unable to get approval for another bank’s balance transfer loans.

Features of a balance transfer facility from DBS

  • 0% interest rate. Save on your interest charges for 6 or 12 months.
  • Loan size. Balance transfer amounts from $500 to 93% of your available credit limit.
  • Flexible repayment. You may pay as little as $50 or 2.5% of the statement balance, whichever is higher. However, do take note that it’s not advisable to only make minimum repayments every month.
  • Consolidate your credit card debt. Fuss over fewer credit card payments every month by moving all your credit card balances into a single DBS Credit Card.
  • Fast application process. Enjoy the convenience of applying directly with your iBanking login details. There’s also no need for any document submission.

What are the fees, charges and payment to look out for?

The total cost of your loan will ultimately vary according to how much you borrow, the term of your loan and your repayment instalments. If you’re unable to make the minimum monthly payment by the payment due date, you will incur a late payment penalty and interest charges.

Details are as follows:

  • Processing fee. There’ll be a one-time fee charged upon the approval of your balance transfer. The processing fees are 2.5% and 4.5% for 6-months and 12-months balance transfers respectively.
  • Minimum monthly payment. You’ll need to pay at least 2.5% of the statement balance for DBS Cashline / 3% of the statement balance for DBS/POSB Credit Card, or $50, whichever is greater.
  • Finance charge. Prevailing interest rates of 20.5% to 29.8% p.a will apply on the outstanding DBS Cashline balance transfers amount, and 26.8% p.a. on the outstanding DBS/POSB Credit Card balance transfer amount.
  • Late repayment fee. You’ll incur a $100 late payment fee for Credit Card or $120 for Cashline if you miss the monthly loan repayment date.

How to apply for a DBS Balance Transfer

Applying for a DBS Balance Transfer is a fast and hassle-free process – without the need to submit any supporting documents.

Simply apply online using with your iBanking log-in information or your card and PIN numbers. Next, choose your loan amount, tenure and submit your application for approval.

To be eligible you must, at a minimum:

  • Have a DBS/POSB Credit Card or Cashline account
  • Take out a minimum balance transfer of $500
Back to topGuide: Balance transfers in Singapore

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