Enjoy fixed interest rate and monthly instalments to better manage your finances.
For annual income of S$30,000 and above
For annual income of S$20,000 to less than S$30,000
1% or 3% based on loan amount and tenor
1% of loan amount
Prepayment penalty fee
1.5% on the outstanding loan amount is applicable if the loan is fully repaid during the loan tenure
^ Applied interest rate
Note: Minimum Loan Amount is S$1,000.(These numbers are meant for illustrative purposes only and should not be taken to be a guarantee of the actual, future or likely figures). Interest is calculated on a flat rate, front loaded basis. Maximum loan tenure applicable for foreigners is up to 2 years, subject to the validity of the employment pass. Processing fee and Insurance fee will be deducted up front from the approved loan amount.
Application Requirements for POSB Loan Assist
21 - 65 years old
S$20,000 and above
S$45,000 and above
Up to S$200,000
Up to S$60,000
Note: Existing DBS Cashline customer are not eligible to apply.
** You can now print your Income Tax Notice of Assessment at myTax Portal with your SingPass or IRAS PIN. The service is free. Log on to https://mytax.iras.gov.sg for more details.
POSB Loan Assist interest rate computation is under Flat Rate Basis. Fixed Rate Flat-Add-On means that the interest rate and your monthly loan instalment remain the same throughout the duration of your loan. This protects you against any interest rate fluctuations.
Suppose you take a loan of S$10,000 over 5 years at an interest rate of 5.88%. The computation would be as follows:
For any standard loan scheme, you are required to pay all principal and interest that would have accrued over the entire loan period. However, in the event you decide to repay the outstanding loan before the loan period ends, you will receive a rebate on the interest.
The interest rebate will be calculated by the using an Interest rebate formula +
Suppose your loan is S$10,000.00 over 5 years at 5.88%. If you repay the entire loan outstanding after making 36 monthly instalments, the computation is as follows:
Computation For Loan Redemption
Original Loan Amount
Total Interest (based on illustration 1)
Total payable (principal + interest)
Less : instalment paid (S$216 x 36)
Less : Rebate of Unearned Interest
Total amount payable to bank to fully redeem your loan
+Interest rebate formula
n (n + 1)
x TC =
24 (24 + 1)
x S$2,940 = S$482
N (N + 1)
60 (60 + 1)
R represents the interest charges rebate
n represents the balance loan period expressed in months
N represents the original loan period expressed in months
TC represents the total amount of interest payable over the loan period
(These numbers are meant for illustrative purposes only and should not be taken to be a guarantee of the actual, future or likely figures)
Note: A prepayment fee of 1.5% of outstanding loan amount will be applicable for early termination before the end of the loan tenure.
The Cash in 5 mins* application processing service is available at any POSB branch from Monday to Thursday, 8.30am to 5pm and Friday from 8.30am to 4.30pm (except public holidays). For Branch operating hours, please click here.
The Cash in 5 mins* service is applicable to the POSB Loan Assist loan facilities.
Please note that the Bank will firstly send you an SMS confirming receipt of your application. Within the next 5 minutes, the Bank will send you a 2nd SMS to inform you of the status of your application. Thereafter, the loan will be disbursed to your designated account with POSB within the same day.
To qualify for the Cash in 5mins* service, you must be between 21 years and 65 years of age, residing in Singapore and currently in a continuous employment of at least 12 months.
* POSB will only process applications that meet the bank's internal requirements. We regret that we will be unable to process applications if the Cash in 5mins* system is unavailable at the point of application. POSB reserves the right to reject any application and/or grant a lower limit at its sole discretion.
Download the DBS Quick Credit App. Apply for Loan Assist to get instant approval1
Fill up the form and mail back
Send SMS in this format: POSBLA<space>NAME<space>NRIC to 76060.
Visit any of our POSB branches to give you cash in 5 minutes5
View the latest POSB Loan Assist Terms and Conditions.
Please be informed that with immediate effect, the provision for disclosure of information in the terms and conditions governing each of the Bank's unsecured loans facilities has been revised to allow disclosure of information to any person or organisation involved in the sending or delivering of any communication to your last known address on our records. Communication will include all forms of direct mailers and advertisements (including messages printed on envelopes with DBS' name and logo).
Please be informed that revisions have been made to the POSB Loan Assist Terms and Conditions which will take effect on 1st July 2014. Full list of changes.
1The approval of the personal loan application by DBS through the DBS Quick Credit mobile application is subject to full authentication and validation of completed information of the applicant and receipt of all mandatory documents from the applicant.
2 DBS may grant such credit limit at its discretion, which may differ from what is requested
3 Last instalment waiver feature is only applicable for loan accounts with minimum loan tenure of 36 months that are prompt in the monthly repayment. Qualified accounts will be notified via mail before the last instalment date.
4 Personal loan life insurance is underwritten by AVIVA Ltd. The premium payable by you to Aviva shall be 1% of the Loan and will be deducted from the Loan amount on the Effective Date. The policy is protected under the Policy Owners’ Protection Scheme, and is administered by the Singapore Deposit Insurance Corporation (SDIC).Coverage is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact Aviva Ltd or visit the LIA or SDIC web-sites (www.lia.org.sg or www.sdic.org.sg). Summary of terms of cover (Personal Loan life insurance) can be found in the Standard Terms And Conditions relating To POSB Loan Assist granted by DBS Bank.
5POSB will only process applications that meet the bank's internal requirements. We regret that we will be unable to process applications if the Cash in 5mins* system is unavailable at the point of application. POSB reserves the right to reject any application and/or grant a lower limit at its sole discretion.