POSB Car Loan Promotion

6 months interest-free*! Enjoy preferential interest rate of 2.18% p.a. (EIR 4.11% p.a.) when you sign up online!

Car Loan

Sign up today to enjoy our best online car loan deal for the purchase of a used car! Enjoy interest–free for the first six months* and pay only 2.18% p.a. (EIR 4.11% p.a. over 7 years) thereafter. Promotion ends 31 May 2017.

* This is applicable for loan tenor of 2 years and above. 6 months interest will be credited to your DBS/POSB loan servicing account 1 month after loan disbursement.

Sign up now

Here’s an illustration on how much you could save:

You bought a car for S$100,000 and wish to apply for a 60% loan over 7 years.

 Interest for
 POSB Car Loan Online Offer at 2.18% p.a.Normal Car Loan at 2.78% p.a.
1st year

$646

$1668

2nd year

$1300

$1668

3rd year

$1300

$1668

4th year

$1300

$1668

5th year

$1300

$1668

6th year

$1300

$1668

7th year

$1300

$1668

Total interest

$8446

$11,676


* You will receive a credit in your account based on the interest amount for the first 6 months (S$654 i.e. half of 2.18% of original loan amount of S$60,000).

Note: We are required to net off this amount from your purchase price to determine the True Purchase Price. The True Purchase Price (S$100,000 - S$654 = S$99,346) is then used to determine your maximum loan amount. Your final loan amount will be S$59,607 (60% x S$99,346). This is slightly lower by S$393 compared to what you could have borrowed under a normal car loan.

Enjoy our best rates on DriveShield Car Insurance

Your deal just got sweeter. Get preferential rates on DriveShield car insurance when you successfully sign up for the Car Loan online promotion! Simply click "Yes" in the online application form to receive your free quote.


Enjoy 2 great offers in just 2 steps:

  • Step 1: Click on Sign up now
  • Step 2: email us the required application documents.
 

Sign up now

Access to credit report: You may obtain a free credit report within 30 calendar days from the date of approval or rejection of this application. There are two ways to obtain a free credit report. You can go to the credit bureau website listed below or bring your approval or rejection letter and your original NRIC to the credit bureau's registered office. Credit Bureau (Singapore) Pte Ltd is located at 2 Shenton Way #20-02 SGX Centre 1 Singapore 068804 Tel: (65) 6565 6363. Website: www.creditbureau.com.sg

Terms and Conditions
Get the full terms and conditions regarding these promotions below.
DBS Car Loan Online Promotion
DBS Car Loan-DriveShield Insurance Policy Promotion

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