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DBS Personal Loans

Whether you need a personal loan for a large purchase, a flexible credit line for unexpected expenses or need to consolidate other debts, DBS has a suitable loan for you.

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At DBS you can borrow up to 10x your monthly salary and repay your loan over a period of up to 5 years, with instant approval possible for select customers who already bank with DBS. Alternatively, the bank’s Cashline product is a flexible borrowing solution where you only pay interest on the amount you are borrowing.

One of Singapore’s biggest banks, DBS also offers flexible loans to customers all over Singapore, including a debt consolidation loan which can help you to reduce the number of payments you make on existing loans, and which could also save you interest.

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Name Product Interest Rate From Loan Amount Processing Fee
DBS Personal Loan

EIR: 7.56%

$500 – Up to 10x your monthly salary
1% processing fee

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Types of personal loans from DBS

These are the types of personal loans you can apply for at DBS:

  • Personal loan. Existing DBS customers can get instant approval for loans if they meet the bank’s criteria, with a maximum loan size of up to four times your monthly salary, or up to ten times your monthly salary if you earn S$S120,000 p.a. or more. Loan tenure ranges from year through to 5 years with the DBS Personal Loan.
  • DBS Cashline. A DBS Cashline loan is a flexible way to borrow, offering you a maximum credit line of up to four times or up to ten times your salary, depending on your income bracket. You only pay interest on the amount you borrow, but the interest charges are higher than on a fixed personal loan.
  • Car loan. With DBS you can get a car loan with a tenure of up to seven years, with a maximum loan value of up to 60% of the lower of the purchase price or valuation price, for cars worth more than S$20,000. The loan value is capped at 70% for cars worth S$20,000 or less.
  • Debt consolidation loan. You can apply for a debt consolidation loan and repay your loan over up to eight years. DBS offers an attractive interest rate on its debt consolidation product which could help you lower your monthly interest charges on existing debt.

Features of a DBS Personal Loan

You can enjoy all the key features of a personal loan with DBS, including:

  • Instant approval. Customers who already bank with DBS can get instant approval for a loan. This includes existing Cashline and credit card customers and customers who credit their salary into a DBS account.
  • Repayment flexibility. You can repay your loan over a period of your choice, subject to lending criteria. The minimum loan tenure is year, the maximum period you can borrow for is 5 years.
  • Personalised rates. DBS will consider your ability to repay and approve a loan at a rate that is personalised to your circumstances, which could be a very attractive rate for customers who pose a low credit risk.
  • Fixed rates. Once DBS has provided a quote for your loan, and you’ve accepted the terms, your loan repayments will be fixed. Any changes in interest rates will not affect your repayments as the interest rate on your loan is fixed.
  • Loans for any purpose. A DBS Personal Loan can be used for any purpose, and you can borrow your choice of a large amount, up to 10x your monthly salary if you qualify, or a small amount if you do not need a large loan.

What other products does DBS offer?

You can get a range of personal banking needs met at DBS, with services covering:

  • Bank accounts. All the essential bank accounts are available from DBS, including current accounts paying interest on your balance, savings accounts and multi-currency accounts.
  • Credit cards. DBS offers credit cards for almost every requirement, including premium cards, cards that offer rewards and a range of co-branded cards that gives you access to special offers.
  • Home loans. The bank can help you finance the purchase of a new property, or you could opt for a refinancing loan, including refinancing of your HDB loan. You can also contact the bank for home renovation funds.
  • Insurance products. At DBS you can get insurance to cover your car, to cover you when you travel and to cover you for health expenses. The bank also offers retirement and endowment products.
  • Investment products. DBS markets different investment products to suit a range of investment goals. These include unit trusts, equity investments and fixed income products.

How to apply for a personal loan from DBS

Existing customers could get instant approval, permitted they meet the bank’s criteria. New customers are required to first open a DBS or POSB deposit account before they can apply. Click the green “Go to Site” button to go to the application form.

Eligibility requirements

  • Age. Applicants must be between 21 and 65 years old at the time of applying.
  • Citizenship or residency. You can only apply if you are a Singapore citizen or permanent resident.
  • Minimum income. You must earn $30,000 p.a. or more to apply.
  • DBS or POSB deposit account. If you do not already bank with DBS, you can open an account and then proceed to apply for a personal loan.
  • Credit report. DBS will check your credit file and you will only be approved if you present a suitable credit risk.

Necessary documents and information

  • Proof of identification. DBS requires both the front and the back of your NRIC card.
  • Proof of income. You need to provide proof of your income, such as a computerised payslip. Commission-based employees and self-employed workers need to provide further evidence such as a tax notice of assessment.

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