Personal Loans

POSB Balance Transfer

Get extra cash the smart way!

POSB Credit Cards Balance Transfer

Features

  • Interest Savings – Enjoy 0% interest rate for up to 12 months.
  • Flexible Repayment - Pay from as little as S$50 or 2.5% (for Cashline account) or 3% (for Credit Card) of the statement balance, whichever is higher.
  • Financial Control – Consolidate all your other credit cards balances into Cashline or a DBS/POSB Credit Card.

How to Apply

  • For customers with Credit Card and/or Cashline account. No documents are required.

    Apply now

  • Need help? Leave your contact details with us and we will contact you.

    Contact me

Product Details

 

Tenure6 months12 months
Applied interest rate (p.a)0%0%
Administration fee3.58%
2.5%# (online exclusive)
6.38%
4.5%# (online exclusive)
Effective interest rate (p.a)*7.52% 5.27%# (Cashline)
7.61% 5.34%# (Credit Card)
7.12% 5.06%# (Cashline)
7.32% 5.20%# (Credit Card)

 

#For online application.
*The effective interest rate is calculated taking into consideration the administration fee and based on the assumption of a minimum monthly payment of: 2.5% for Cashline / 3% for DBS/POSB Credit Card(s) of the outstanding and full payment in the final month of the promotional period.

Interest, fees and charges are subject to compounding if it is not paid in full. The one-time administration fee will be debited from your Cashline account or DBS/POSB Credit Card(s) accordingly.

 

Illustration

For a balance transfer amount of S$5,000, you can achieve total savings of up to 81%.

 6 months12 months
Interest from other bank's credit cards at 24% p.aS$600S$1200
Interest from Cashline or DBS/POSB Credit Card Balance Transfer at 0% p.aS$0S$0
One time administration fee+S$125
(2.50%)
S$225
(4.50%)
Savings^S$475
(79% savings)
S$975
(81% savings)

+The one-time administration fee will be debited from your DBS Cashline / Credit Card account accordingly.
^Figures have been simplified for illustration purposes only. Interest savings are based on the 24% p.a. interest rate on other banks' credit cards over a 6-month and 12-month repayment period, as well as the one-time administration fee from DBS.

DBS / POSB Balance Transfer Terms and Conditions

 

Eligibility
NationalitySingaporean or Permanent Resident
DBS/POSB Balance Transfer will require (i) a Cashline and/or DBS/POSB Credit Card account to grant the Balance Transfer, and (ii) a DBS/POSB deposit account (excluding Joint All, Trust, MSA, SAYE and POSB current accounts) for the transfer amount.

 

New to Cashline and Credit Card?

  • Apply for a Cashline account here and get up to $80 cashback or choose in Cards section for a Credit Card.

    Choose to apply through Internet Banking or Card and Pin to enjoy straight through processing if you currently have salary crediting to DBS/POSB deposit account.

    Apply now

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