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DBS Debt Consolidation Plan

Bundle all your loans and make hassle-free repayments to DBS Bank.

The DBS Debt Consolidation Plan comes with a single account for all your existing loans, as well as a revolving credit facility (DBS Visa Platinum Credit Card) for your daily expenses. Choose loan tenures ranging from 1 to 8 years and enjoy flat interest rates starting from 3.58% p.a. (6.56% EIR).

If you have multiple unsecured debts, consider taking advantage of better manageability and interest savings with a debt consolidation plan from DBS.

Pros and cons


  • Long loan tenures
  • Attached credit card


  • $99 processing fee
  • Early repayment fee of 5% on the outstanding balance

Main points to consider with a DBS Debt Consolidation Plan

Debt consolidation plans (DCP) from DBS can range from 1 to 8 years. Interest rates on these loans are fixed, starting from as low as 3.58% p.a. However, the interest rate offered to you will be determined by the length and size of the loan. It also comes with a revolving credit facility (credit card) with no annual fee, so it is up to you if you’d want to utilise it.

Features of a debt consolidation loan from DBS

  • Promotional interest rate. Take advantage of interest rate from as low as 3.58% p.a. (6.56% EIR) until 31 December 2022. However, do note that the interest rate offered to you is based on your personal credit profile and may differ from the published rate or the rate offered to other borrowers.
  • Flexible loan tenures. You can apply for a loan of anywhere from 1 to 8 years.
  • Loan size. The maximum loan size will be determined by DBS through the application process, depending on your credit history and ability to make repayments. Typically, your loan size will be the total of your debt plus 5% allowance on top of the DCP amount, applicable only to your first DCP loan.
  • Revolving credit facility. When you’re approved for the DCP, you’ll automatically receive the DBS Visa Platinum Credit Card, which is a revolving credit facility. However, the card is meant to serve as a convenient payment mode for managing your daily essentials, so you’re not obliged to use it if you don’t want to.
  • DBS Visa Platinum Credit Card. The DCP comes with a no-fee DBS Visa Platinum Credit Card with a limit of 1x monthly income to provide you with a convenient mode of payment for managing your daily essentials.

    How much does the plan cost?

    The following fees may apply to your loan:

    • Processing fee. You’ll be charged a one-time processing fee of $99 upon the approval of your debt consolidation application.
    • Late repayment fee. There’ll be a $90 late payment penalty if you miss the monthly loan repayment date.
    • Early termination, cancellation or prepayment fee. If you wish to settle or cancel your loan before the end of the tenure, you’ll have to a penalty of 5% on the balance outstanding at point of settlement.

    How to apply for a DBS Debt Consolidation Plan

    If you’ve compared your options and decide to apply for a DBS Debt Consolidation Plan, you’ll need to request for a call back by contacting DBS Bank at 6878 6887 from Mondays to Fridays (except Public Holidays) between 9am to 6pm. A DBS representative will then be in touch with you as soon as possible.

    Before making an appointment, make sure that you meet the following eligibility criteria:

    • Be a Singaporean or Permanent Resident.
    • Between 21 to 65 years old.
    • Earn between $30,000 and S$120,000 p.a; and has less than $2 million in net personal asset.
    • Have a Balance to Income Ratio (BTI) that exceeds 12 times your monthly income.

    When applying for a loan you generally need to provide:

    • Identification. A photocopy of your NRIC (front and back).
    • Credit history. Your latest Credit Bureau report. You may purchase a copy at $6.42 (inclusive of GST) at CBS office, any SingPost branches, or directly from CBS’s website with your SingPass.
    • Proof of income.
      • For salaried employees: Latest Notice of Assessment and latest 12-months CPF statements; OR Salary crediting into a DBS/POSB account; OR Latest computerised payslips.
      • For self-employed individuals: Latest Notice of Assessment.
    • Record of debt. You will need to provide a record of the debt you wish to consolidate, which may be any one of the following:
      • Latest bank statements; OR
      • Confirmation letter evidencing new balance transfers or loans
      • Other relevant documents evidencing account information or balances.

    Guide: Debt consolidation loans

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