POSB iBANKING
Cash in 5 mins*
POSB Loan Assist gives you cash in just 5 minutes
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.
| Application Requirements for POSB Loan Assist Cash in 5 mins | ||
| Customer segment | Loan Amount (S$) | Tenure |
| Singaporean and PR, Annual income $20,000 -< S$30,000 | Up to 2X1 monthly income 3,000 - 5000 | 1 -5 years |
| Singaporean and PR, Annual income $30,000 -< S$120,000 | Up to 4X1 monthly income 3,000 - 200,000 | 1 -5 years |
| Foreigner, Annual income > = S$45,000 | Up to 4X1 monthly income 3,000 - 60,000 | 1 -2 years |
The rates we offer:
| Annual Gross Income | S$20,000 - Less than S$30,000 | S$30,000 and above | ||
| Loan Tenure | AIR (% p.a.)^ | EIR (% p.a.)* | AIR (% p.a.)^ | EIR (% p.a.)* |
| 1-year | 11 | 27.69 | 5.38 | 17.57 |
| 2-year | 11 | 24.16 | 5.88 | 15.04 |
| 3-year | 11 | 22.57 | 6.18 | 14.25 |
| 4-year | 11 | 21.53 | 6.18 | 13.48 |
| 5-year | 11 | 20.74 | 6.18 | 12.95 |
| Processing fee | 3% | |||
| Insurance fee | 1% | |||
| Late fee Charges | S$80 | |||
1 DBS may grant such credit limit at its discretion, which may differ from what is requested
^Applied interest rate.
*Effective interest rate (inclusive of 3% processing fee and 1% insurance fee)
Interest rate is calculated on a flat rate, front end loaded basis.
Singaporean and Permanent Resident
A copy of your NRIC (front and back)
and
For Fixed/ Variable Income Employees
You are required to retrieve your last 12 months CPF contribution history statement using your Singpass on the spot at the branch.
For Full Commissioned/ Self-Employed
You are required to retrieve your last 2 years Notice of Assessment (Income Tax statement) using your Singpass or IRAS pin on the spot at the branch.
Foreigners
Valid Passport and Employment Pass (with at least 6 months’ validity)
and
You are required to retrieve your latest Income Tax Notice of Assessment (Income Tax statement) using your Singpass or IRAS pin on the spot at the branch.
Note: Applicants may be required to provide additional income document for review after submitting your application at the branch.
Alternatively, send SMS
POSBLA<space>PC<space>NAME<space>NRIC to 76060.
Please note:
For Cash in 5mins* applications at our branches -
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.
The Cash in 5 mins* application processing service is available at any POSB branch from Monday to Thursday, 8.30am to 5.15pm and Friday, 8.30am to 4.30pm. For Branch operating hours, pls click here.
The Cash in 5 mins* service is applicable to the POSB Loan Assist loan facilities.
* 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.