POSB and DBS offer interest rates from 3.88%, which is one of the lowest advertised flat rate on the market, and makes these loans some of the cheapest available. Proof of permanent employment i.e an original payslip and a clear photocopy of the same. POSB Personal Loan from 3.88% p.a. A POSB Personal Loan brings you instant cash at low rates. loan amount: Up to 10X of monthly income Min. How do I proceed? Loan Amount: $500 Approval time: Instant approval & cash disbursement for DBS/POSB customers. This is the rate that reflects the true cost of borrowing as expressed over a reducing balance basis (similar to home loans) and is useful in comparing different loans to get the best rate. In groups of 3 who all cross guarantee each other, the group will collectively apply for individual loans. Featured; Home Loans; Personal Loans; Car Loan; Education Loans; Promotions; Personal Loans. Submission of application letter by employer. Please check your designated account for the crediting of the approved loan amount. This package is valid with a minimum loan amount of S$100,000 with 2 years lock-in period. Necessary cookies are absolutely essential for the website to function properly. Promotion ends 31st March 2021. Short turnaround time for processing loan applications (24hours). Learn more. Cash flow/ Group Backed Loans – Available to individuals or groups running small/ informal projects which require working capital funding. Mortgage Application Form. 3 people like this. Proof of residence for all applicants (Utility Bills, Letter from Employer, Village Chief, District Council, Headmaster). (EIR 3.77% p.a. Letter from the university or tertiary institution confirming beneficiary is an enrolled student, level of completion and certified fees invoices. Individual Account holders with existing loans can also access the POSB Salary Based Overdraft facility. Learn more. SingSaver compares the best Personal Loans in Singapore that range from 1-year to 7-year tenures. Transactional Accounts Investment Banking … Instant cash as low as 3.88% p.a (EIR 7.56% p.a)! Learn more. Illustration on interest payable for a S$10,000 loan with 3.88% AIR and 5 years tenure Interest payable: S$10,000 loan x 3.88% pa AIR x 5-year tenure = S$1,940. DBS iBanking; Singapore; Mainland China; Hong Kong; Indonesia; Taiwan; India; DBS Loan Calculator DBS Loan … Popular: Existing DBS/POSB users applying via SingSaver can get instant approval and loan disbursal. DBS/POSB Personal Loan: 3.88% (EIR 7.9%)* 1% of loan amount: No: Citibank Quick Cash Loan: 3.99% (EIR 7.5%) None: Yes (with $20,000 loan) Standard Chartered CashOne Personal Loan: Low interest rates, and cashback. offered on SingSaver, the Standard Chartered CashOne Personal Loan is one of the best options in the market. Submission of schedule of eligible employees by the employer. Download Document. Here are its highlights: Low fixed interest rate from 3.88% p.a. Note: The interest rate and processing fee offered to you is based on your personal credit and income profile. Current financial statements from employer (If they are not a listed company). Apply for POSB Personal Loan today and receive 1% cashback on your approved loan amount!4. Get Instant Cash. The University Education Loan Support Facility is designed to assist current and prospective students who do not have the requisite financial resources to support their University or tertiary education. Benevolent/ Emergency Medical Services Loans – Accessible to individuals or … Note: The above table is meant for illustration. POSB Personal Loan product summary: Interest rate: From as low as 3.88% p.a (EIR 7.56% p.a) Loan tenures: Choice of 1 to 5 years Max. Use POSB's Personal Loan Calculator to calculate your estimated monthly repayment based on your preferred loan amount and tenure! With a flat interest rate of 3.48% p.a. + 1% processing fee (EIR 7.56% p.a.). Popular. A SMS confirmation for an approved Cashline account (if applied for a Cashline account) and/or approval letter(s) of the applied Cashline or Credit Card. POSB Personal Loan from 3.88% p.a. (EIR 7.56% p.a.) by posb | Jan 7, 2020. How about the remaining credit limit in my Credit Card? Low minimum income requirement. Apply for one here first! You will need a DBS/POSB account to receive the funds upon approval. * Clarification: We would like to clarify that “The free Credit Bureau Report” is limited only to application of a new product such as Cashline, Credit Card, Further Study Assist. Bank; Cards; Insure; Borrow; Invest; Learn; Marketplace; ATM & Branch; You are in Personal Banking. Personal Loan - Apply Personal Loan Online @8.95% Interest Rate, … 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 (see Frequently Asked Questions Tab for more details). Enjoy instant approval and get money immediately 3 in your bank take into account: Advertising. DBS POSB Personal Loan Review 2020. E.g. This is helpful as most lenders take at least one day to disburse personal … Alternatively, you may bring the approval or rejection letter and your NRIC to the following credit bureau’s registered office to obtain a free credit report. A SMS confirmation that your DBS/POSB Personal Loan is approved. Get instant cash 2 disbursement at any of our branches if you are currently crediting salary to POSB/ DBS … Processing Fees. … Bank; Cards; Insure; Borrow; Invest; Learn; Marketplace; View all results. Age. Operating today as part of the DBS Group, POSB has 53 branches in the country that offers traditional banking and financial products like credit cards and personal loans. Zalora Singapore. What the POSB Personal Loan can do for you. Applicant must meet the minimum net salary/income requirement. The POSB Personal Loan lets you apply to borrow up to four times your monthly salary or up to ten times your wages if you earn over S$120,000 per year at competitive rates. POSB is a Member of the Deposit Protection Corporation. While most banks take at least a day to disburse personal loans, POSB & DBS instantly provide funds to their credit card and credit line customers, as well as new customers that credit their salary into a POSB or DBS deposit account. Personal Loans – Are available to civil servants earning and not earning their salaries through POSB to cater for emergencies, small asset acquisition and general living expenses. Enjoy personalised interest rates from as low as 3.88% pa AIR + 1% Processing fee (EIR 7.56% pa)! If you do not have an existing Cashline / Credit Card Account, you will need the following documents: Alternatively, you may … POSB Personal Loan POSB Loan Assist is a unsecured loan where no guarantor and collateral is needed. Additionally, the bank offers instant cash disbursement to approved online applicants. If a POSB personal loan is a right fit for your financial needs, head to their main website to start your application. You can’t apply for this loan product if you don’t already hold certain … is calculated based on a 5-year loan. Illustration on interest payable for a S$10,000 loan with 3.88% AIR and 5 years tenure. Flat interest rates at 6.99% p.a for loan amount with tenures up to 5 years. Learn more. admin / March 28, 2016. Applicant must meet the minimum net salary requirement. ^E.I.R. Cons . Esteem Customer Information Business Update Form. Make an application for POSB unsecured loan today and get 1% cashback in your loan that is approved amount! You can do an online DBS/POSB Personal Loan application in 2 ways: Learn how you can easily apply for a POSB Personal Loan here. As low as 3.88% p.a. POSB Car Loan Promotion. Cashline is a standby line of credit account which the credit limit granted is utilized for DBS/POSB Personal Loan. This category only includes cookies that ensures basic functionalities and security features of the website. Calculate the monthly repayment with our handy calculator! POSB Personal Loan. Applicants must receive their salary through their Individual Account for at least 3 months. Sponsored Links. Just the thing to light you up! Applicants need … Valid for loan amount of S$10,000 and above. This website uses cookies to improve your user experience. Instant cash for POSB/DBS customers. If you do not have an existing DBS/POSB deposit account, you can choose your desired account here and apply online. Applicants will be loan to loan up to 4 times their salary if they have a high annual income with good credit score while repaying the loan from 1 to 5 years. Apply for Balance Transfer online in 3 simple steps now! Actual figures may vary. Financing plans to help … Original and clear copy of current payslip. Get Instant Cash. POSB, 0242 355 916, $10 000, $450, 296533001, $2500 Applicants must arrange themselves into groups of 3 who and be willing to cross guarantee each other. Any customers looking for loans with loan tenures of more than five years will not be able to submit an application form to POSB – as 5 year tenures are the longest … Enjoy special interest rate of 1.99% p.a. Income $20,000. Tollfree +263 08004271. Original and copy of IDs for all applicants. 1 file(s) 2.02 MB. Low interest rates not … Enjoy 0% interest. Eligibility requirements. digibank; GIRO; Travel … EIR – Effective Interest Rate. Current proof of residence (Utility Bills, council bills, copies of title deeds/lodgers card, current account statements). POSB offer bank accounts, credit cards, Investments and POSB personal loan, as well as advice and guidance including offering free credit reports for customers, so they can take charge of their finances, and receive tailor made financial products. The interest rate and processing fee offered to you is based on your personal credit and income profile. Pros: Cons: Instant cash for POSB/DBS customers : Low … Download Document. or over to qualify for a loan. Personal Loan Application Form. Why am I seeing a different rate in the application page? (EIR 3.77% p.a. Original and copy of ID of applicant (National ID, Passport or Driver’s license). If applied for a Cashline account, you will receive a DBS ATM Card (if you do not have one) as part of Cashline application. Personal Loans 1% Cashback Promotion Terms and Conditions apply, Terms & Conditions Governing Electronic Services, New customers currently credit salary into a DBS/POSB deposit account, Singaporean Citizen or Singapore Permanent Resident. Original and copy of IDs for student, parent/guardian and guarantor (National ID, (valid Passport or Driver’s license). Personal Loans. Personal Banking; DBS; POSB; Wealth Management ; DBS Treasures; DBS Treasures Private Client; DBS Private Bank; DBS Vickers Securities; DBS Vickers Online; Institutional … Loan... Corporate Loans. 3 DBS will only process applications that meet the bank's internal requirements. The interest rate and fee indicated is the lowest published rate and may differ from what is offered to you. If you already bank with DBS, you may be able to get a personal loan approved in a matter of minutes. What is a Cashline account and why is it used for DBS/POSB Personal Loan? (or 7.56% EIR). A POSB personal bank loan brings you cash that is instant low prices. See more. Permanently employed guarantor whose salary is sufficient to cover loan repayments.. 3.88% Annual Interest RateEIR 7.9% p.a. If you do not have an existing Cashline / Credit Card Account, you will need the following documents: Alternatively, you may choose to provide your income documents via MyInfo. You can use the available credit limit (up to 95%) to take up another DBS/POSB Personal Loan or use for other Credit Card purposes such as retail transactions. Civil Service Employees who are paid through Salary Services Bureau (SSB) and do not receive salaries through POSB are eligible for Mutually Guaranteed Loans. We'll assume you're ok with this if you continue to use this website, but you can opt-out if you wish. TIMB or GMB and ownership of land, i.e. Proof of residence of applicant (Utility Bills, Letter from Employer, Village Chief, District Council, Headmaster). Qualities & Advantages. - If you do not have a Cashline account, skip the need to provide your income documents when you apply with MyInfo. (EIR of 7.99% p.a.) Apply for Balance Transfer online in 3 simple steps now! Personal Banking; DBS; POSB; Wealth Management; DBS Treasures; DBS Treasures Private Client; DBS Private Bank; DBS Vickers Securities; DBS Vickers Online; … Personal Banking DBS POSB Wealth Management DBS Treasures DBS Treasures Private Client DBS Private Bank DBS Vickers Securities DBS Vickers Online Institutional Banking SME Banking Corporate Banking DBS Group About DBS Covid-19 and beyond; ATM & Branch; Help & Support; Login. loan amount: Up to 10X of monthly income Min. You also have the option to opt-out of these cookies. If you are an existing Cashline account or Credit Cardholder, you will receive: For DBS/POSB customers without Cashline or Credit Card. The interest rate and fee offered to you will be displayed during your application and is based on your personal credit and income profile, subject to the bank’s discretion. These cookies do not store any personal information. Enjoy … What the POSB Personal Loan can do for you. Pros . POSB Personal Loan. Available to Individual Account holders who receive their salaries through POSB. These are loans available to salaried individuals who do not bank with POSB. For more information on applied and effective interest rates, please visit www.moneysense.gov.sg. If you do not have an existing Cashline / Credit Card Account, you will need the following documents: Alternatively, you may … Enjoy interest rate from 3.88% p.a. … This website uses cookies to improve your experience while you navigate through the website. Applicant must be employed in the civil service and being paid through SSB. Cons. Please note that there is a downtime daily from 11.45PM to 8.00AM and application will be pending status during downtime. From taking up a new loan to refinancing, POSB offers a wide range of fixed and floating home loan interest rates to suit different needs. POSB is an International Financial leader with branches is Singapore, Hong Kong, China, Indonesia, India and Taiwan. How do I apply for a DBS/POSB Personal Loan after I click on "Apply Now"? I do not have a deposit account with DBS/POSB. Switchboard Lines +263 242 793831-7. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. Esteem Customer Information Update Forms. Bank/Lender, Telephone Number, Amount, Monthy Instalments, Account Number, Balance Outstanding e.g. DBS fixes your interest rate based on factors individual to you, including your credit score. Enjoy instant approval and get cash instantly3 in your account for: Online exclusive for New-to-Bank customers! Pensioners and pension beneficiaries aged between 18 and 68 are eligible for this loan. will not be considered. Proof of income (pay slip /income statement for parent or guardian/guarantor), Confirmation letter from employer for parent or guardian/guarantor, Trade references for farmers (proof of 2 previous seasonal sales and agents that were involved e.g. After submitting and approval of a DBS/POSB Personal Loan on your Cashline and/or Credit Card, you will receive another SMS confirmation that the DBS/POSB Personal Loan is approved. Read More. Please check your designated account for the crediting of the approved loan amount. Floating Rate Packages 2-Year Lock-in. Get Instant Cash. 4 Personal Loans 1% Cashback Promotion Terms and Conditions apply. Pros. POSB offers personal loans of up to 4 times the … Esteem Customer Information Individual Update Form. Competitive rates of interest. The effective … by posb | Oct 9, 2019. 1 DBS may grant such credit limit at its discretion, which may differ from what is requested, 2 E.I.R: Effective Interest Rate – based on 60-months loan tenure and inclusive of 1% processing fee (for Applied Interest Rate: 3.88% p.a.). School Fees Loans – Can be accessed by individuals who require quick financial assistance to cover school fees and other school related expenses. (EIR 3.77% p.a. Enjoy special interest rate of 1.99% p.a. On the other hand, POSB insurance products include premiums that cover property, travel, car and education among others. 4. DBS/POSB Personal Loan Terms and Conditions, Important Information From 1 April 2016, if you wish to have a free credit report, you may obtain it within 30 calendar days from the date of approval or rejection of this application via the credit bureau websites listed below. Featured; Home Loans; Personal Loans; Car Loan; Education Loans; Promotions; Borrow. S$100. AIR – Applied Interest Rate. DBS Bank provides affordable personal loans with low interest rates depending on loan tenure. You need to earn S$30,000 p.a. Cons. Transactional Accounts Savings Accounts Personal Loans Clubs, Schools and Churches Mortgage Finance International Banking Money Transfer Services Other 3 Salary Based Loans Available to Individual Account holders who receive their salaries through POSB. POSB account. Benevolent/ Emergency Medical Services Loans – Accessible to individuals or groups of up to 3 people to help meet funeral expenses or unforeseen medical expenses. POSB Car Loan Promotion. Applications via other channels (i.e Telesales or Branch sales staff etc.) Bank; Cards; Insure; Borrow; Invest; Learn; Marketplace; ATM & Branch; You are in Personal Banking. 20.01%p.a.^). inclusive of 1% processing fee), your monthly instalment will come up to be about $224.50 and there will be no change to it throughout the tenure of the loan*. and Effective Interest Rate (EIR) at 7.56% p.a. There are no extra supporting documents required for these uses on your remaining credit limit. Residency. How is the interest on my DBS/POSB Personal Loan repaid across the monthly instalments? Popular searches. Personal Loans – Are available to civil servants earning and not earning their salaries through POSB to cater for emergencies, small asset acquisition and general living expenses. Enjoy 0% interest. Limited time promotion for low interest rates. Learn more. 1 file(s) 1.55 MB. Shorter turnaround time for processing loan applications. DBS and POSB jointly offers one of the best personal loans in Singapore, with competitive competitive interest rates for both locals and foreigners. See more. Personal Banking; DBS; POSB; Wealth Management; DBS Treasures; DBS Treasures Private Client; DBS Private Bank; DBS Vickers Securities; DBS Vickers Online; Institutional Banking; SME Banking; Corporate Banking; Institutional Investors; DBS Group; About DBS; Covid-19 and beyond; Login. Learn how you can easily apply for a DBS Personal Loan here. for 2 years (EIR 8.20% p.a. * The final instalment amount may vary slightly. Assuming that you are taking up a loan at $5,000 at 3.88% p.a. + 4% processing fee (E.I.R. A1 or A2 lease agreement.). (EIR 7.56% p.a.) Apply Online Now. We also use third-party cookies that help us analyze and understand how you use this website. POSB … Features of the DBS Personal Loan. Once your account is opened, you can apply for the DBS/POSB Personal Loan. Review on POSB Personal Loan. Applications such as Credit Limit increase, Balance Transfer / Personal Loan disbursed from existing products and existing principal cardholders applying for another card(s) are not entitled to the free credit report. Apply for Balance Transfer online in 3 simple steps now! POSB Car Loan Promotion. if your annual income is below $30,000 and you are eligible for the loan, you will be offered a rate of 11.00%p.a. Income. 1 file(s) 1,005.46 KB. Rating: 0.0/5.0 (0 Reviews) Interest Rate From 7.56%. POSB Personal Loan; Receive financing amount of up to 4X 1 of your monthly salary, or up to 10X 1 of your monthly salary if your annual income is S$120,000 and above. Loans typically start from 3.88% p.a. Near-instant loan approval. An approval letter for the DBS/POSB Personal Loan will be sent over to your mailing address within 3 working days after receiving the SMS message. Enjoy 0% interest. School Fees Loans – Can be accessed by individuals who require quick financial assistance to cover school fees and other school related expenses. New feature! Featured; Home Loans; Personal Loans; Car Loan; Education Loans; Promotions; Promotions. Enjoy interest rate from 3.88% p.a. over 7 years) Learn more. Interest on the Loan shall be calculated based on a flat rate basis method (simple interest) by multiplying the principal Loan amount by the specified annual Applied Interest Rate for the full tenure of the Loan. POSB or Post Office Savings Bank was established in 1877 which operated to be one of the largest local banks in Singapore. Original Identity Document such as National ID, Passport or Driver’s License and a clear photocopy of the same. Unlike other financial products, a POSB personal loan enables high-income customers to borrow up to 10 times their monthly salary – possibly the largest loan amount available across Singapore’s personal loan market. You have the flexibility to use the available credit limit (up to 95%) to take up another DBS/POSB Personal Loan or you can use the available credit limit as a standby credit line for short term usage. Loan Amount: $500 Approval time: Instant approval & cash disbursement for DBS/POSB customers. Monthly interest and principal are apportioned differently; in the earlier instalments, a larger portion of your monthly instalment goes towards paying off the interest on the loan. On line exclusive for New-to-Bank clients! These cookies will be stored in your browser only with your consent. POSB Enhanced … Enjoy interest rate from 3.88% p.a. over 7 years) Learn more. Monthly Repayment. Learn more about our cash loans and short term loans! You can choose your desired account here and apply online. Applicant must receive their salary through their Individual Account for at least 3 months. (EIR 7.56% p.a.) POSB will consider you for a personal loan if you are between 21 and 65 years old. Please note that applications not accompanied with required documents or with incomplete information will cause a delay in processing. 1 file(s) 1.98 MB. POSB Personal Loan from 3.88% p.a. If you currently have a Cashline facility or a credit card with POSB or DBS, you could take advantage with a near-instant approval on your loan application. This is the rate used in calculating the interest payable on your loan. Prices & Costs . Credit Bureau (Singapore) Pte Ltd 2 Shenton Way #20-02 SGX Centre 1 Singapore 068804 Tel: (65) 6565 6363 www.creditbureau.com.sg. over 7 years) Learn more. Apply Online Now . Simply the plain thing to light you up! POSB Personal Loan. (National ID, Passport or Driver’s license). The interest portion will be reduced gradually with each instalment (see below for the repayment schedule illustration). 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 (see Frequently Asked Questions Tab for more details). Contact Center +263 242 252595/6 You must be a citizen of Singapore or have permanent resident status. POSB Personal Loan product summary: Interest rate: From as low as 3.88% p.a (EIR 7.56% p.a) Loan tenures: Choice of 1 to 5 years Max. What Makes POSB/DBS Personal Loans Stand Out to Borrowers. What do I do with the remaining credit limit in the Cashline account? Low promotional interest rates. Download Document. It may differ from the published rate and the rate offered to … Min. S$310. 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 (see Frequently Asked Questions Tab for more details). Don't have one? But opting out of some of these cookies may have an effect on your browsing experience. Learn more. Hence, it may differ from the published rate and the rate offered to other borrowers. It is mandatory to procure user consent prior to running these cookies on your website. Up to 70% off storewide 40% off + 20% cashback with "SAVINGS40" NTUC FairPrice … Enjoy special interest rate of 1.99% p.a. Comes with an affordable Pensioner Guarantor Plan. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website.