POSB Debt Consolidation Plan
Apply now to enjoy 3.58% p.a. (EIR 6.56%p.a.#) plus 1% cashback*
POSB Debt Consolidation Plan
At a Glance
Limited time offer only at 3.58% p.a. (EIR 6.56% p.a.#)
Choose from a flexible loan tenure of up to 8 years
Pay lesser interest and clear your debt easily
*Promotion is only available for a limited time, kindly click on the promotion banner for more details
#Effective Interest Rate – based on S$63,000 loan amount for 96-months loan tenure and inclusive of processing fee.
Promotion
How it Works
1 Calculated based on 25.9% p.a
2 Calculated based on 3.58% p.a. (EIR 6.56% p.a.)
Who can apply?
- Singaporean/Permanent Resident
- 21 to 65 years (upon loan maturity date)
- Annual income from S$30,000 to < S$120,000
- Balance to Income Ratio (BTI) of more than 12 times monthly income
Fees
| Processing Fee | $99 |
| Early Termination Fee | 5% on the balance outstanding at point of termination |
| Late Fee | $90 |
Calculator
Calculate the monthly repayment with our handy calculator!
Visa Credit Card
DBS Debt Consolidation Plan comes with a DBS VISA Platinum Credit Card to provide you with a convenient mode of payment for managing your daily essentials.
- This Card only have a maximum credit limit of 1x monthly income.
- No annual fee.
Click here to find out more about DBS Card fee and charges.
Mandatory Documents
- Latest Credit Bureau report3 AND
- Income documents (any ONE of the following)
REQUIRED INCOME DOCUMENTS Salaried Employees Variable Commission based Employees/Self Employed Latest Income Tax Notice Assessment2
1 Year
1 Year
Latest 12 month's CPF Contribution History Statement3
✓
Provide any one of these documents
Salary Crediting into DBS/POSB Account
✓
Latest Computerised Payslip
✓
1 You can obtain a copy of your Credit Bureau report in-person either at CBS office or any SingPost branches, or through www.creditbureau.com.sg with your SingPass. A transactional fee of S$6.42 (inclusive of GST) applies.
2 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.
Note:
- Income documents are not required on condition that your salary is credited via GIRO, to your own Personal POSB/DBS Account for at least 3 consecutive months. The Bank will review, and if necessary, adjust the current combined credit limit of all unsecured accounts based on the latest salary crediting information provided.
- DBS reserve the rights to reject any of the documents provided.
- Applications not accompanied with required documents or with incomplete information will cause a delay in processing
How to Apply
You will need a DBS / POSB deposit account (excluding Joint All, Trust, MSA, SAYE, FCCA and POSB current accounts) for the repayment of the loan.
If you do not have an existing DBS / POSB account, click here to apply before beginning your Debt Consolidation Plan application.
| Application via digibot | |
|---|---|
| Step 1 | Download and fill up the editable Debt Consolidation Plan PDF application form. To have the best experience please complete the form using Adobe Acrobat Reader on your Personal Computer. |
| Step 2 | Check that all required documents are in order. For New to Debt Consolidation
For Refinance to DBS Debt Consolidation Plan
For Repayment Terms Revision
Important note: |
| Step 3 | Submit your application online seamlessly and fully assisted by our digibot. You will need to authenticate yourself via:
Please wait a few seconds for the digibot to be activated and it will guide you through your application. |
Other Services
You may now pay your outstanding amount on your Debt Consolidation Plan via our digital form. Please do not make payment via this request form if you have an existing Giro arrangement on your loan account.
Changing of your loan servicing account for Debt Consolidation Plan is now available online in just 1 simple step. Click to find out more.
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