DBS Personal Loan Review

Make the most of a quick approvals process with DBS.

  • Choose a loan term between 1 - 5 years; get a personalised rate of interest
  • Near-instant loan approval is only possible if you already bank with DBS

With a DBS Personal Loan, get a personalised interest rate and loan funds to use for any worthwhile purpose. Plus, if you’re an existing DBS customer you could get a super fast approval. Read on to learn the key points of the DBS Personal Loan.

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EIR: 5.79%

Interest Rate From

Up to 10x your monthly salary

Maximum Loan Amount

1 - 5 years

Loan Tenure


Special OfferApply online and get up to 2% cashback on your approved loan amount of $10,000 and above. Valid until 31 December 2022.
Interest Rate From2.88% 

EIR: 5.79%

Minimum Loan Amount$500
Maximum Loan AmountUp to 10x your monthly salary
Loan Tenure1 - 5 years
Approval DurationInstant approval
More Info

Pros and cons of a DBS Personal Loan


  • Low interest rates from 2.88% p.a (EIR 5.79% p.a)
  • Instant cash disbursal for POSB/DBS customers
  • High loan amount up to 10x your monthly salary.


  • Longer application approval for non-POSB/DBS customers
  • Not for those who require loans longer than 5 years
  • Early repayment will incur a $250 fee.

Main points to consider with the DBS Personal Loan

With DBS, you can apply for a fixed loan amount which you’ll have to repay for a pre-agreed amount each month (regardless of whether interest rates change or not). If you meet the bank’s criteria, you can apply for a maximum loan size of up to four times your monthly salary, or up to ten times your salary if you earn $120,000 p.a. or more.

If you’ve been approved for a personal loan, you’ll receive an SMS confirmation and you’ll be credited with the approved loan amount soon after.

Features of the DBS Personal Loan

  • Competitive rates of interest. Loans typically start from 2.88% p.a. (or 5.79% EIR). DBS fixes your interest rate based on factors individual to you, including your credit score.
  • Near-instant loan approval. If you already bank with DBS, you may be able to get a personal loan approved in a matter of minutes.
  • Flexible terms. You can borrow for a variety of purposes at DBS. Loans of up to ten times your salary are available, depending on your annual income. Choose a loan term between 1 - 5 years when you apply for a DBS Personal Loan.
  • Sign-up Promotion. Apply online and get up to 2% cashback on your approved loan amount of $10,000 and above. Valid until 31 December 2022.

How much will the loan cost me?

It’s important to understand all the fees and charges that come with a loan before you apply. For example, a processing fee is based on your personal credit and income profile, with this personal loan. Keep in mind that other fees and charges may apply. It’s really important you check and understand your loan contract for a full list of these.

This loan’s typical interest rate starts from 2.88% p.a. (EIR 5.79%). However, you may get a higher rate as DBS takes into account your credit history before offering you personalised loan terms. At the time of writing (March 2021), DBS charges a typical 1% loan processing fee and a late payment fee of $100 for credit card payments and $120 for Cashline account payments.

How to apply for the DBS Personal Loan

If you do choose to apply for the DBS Personal Loan, you can do so by visiting DBS’s website. Make sure you meet the eligibility requirements before you apply. As part of the application process for existing customers, you can log in to your digibank account with your User ID & PIN. Alternatively, you can authenticate via SingPass.

Current DBS/POSB users are able to take advantage of an instant cash payment to their accounts.

Eligibility requirements

Typically you’ll need to meet the following minimum requirements:

  • Be a Singaporean or a Permanent Resident (PR).
  • Aged between 21 and 65 years of age.
  • Earn an annual income of at least $30,000.
  • Applicants need an active account with DBS. If you don’t already have an account with POSB you need to open a deposit account before you apply for your loan.

Required documents

New DBS customers usually need to provide the following documents:

  • Proof of ID. You’ll need to show both the front and the back of your NRIC card.
  • Latest one-year income tax notice of assessment. Self-employed workers and commission-based employees usually need to prove their last two years of income.
  • Proof of income. You must show proof of your income, for example, your latest computerised payslip.

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