POSB Debt Consolidation Plan
At a Glance
#Effective Interest Rate – based on S$63,000 loan amount for 96-months loan tenure and inclusive of processing fee.
|Early Termination Fee||5% on the balance outstanding at point of termination|
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 comes with a maximum credit limit of 1x your monthly income.
- No annual fee.
Click here to find out more about DBS Card fee and charges.
Calculate the monthly repayment with our handy calculator!
21 to 65 years (upon loan maturity date)
Annual income from S$30,000 to < S$120,000
|Balance to Income Ratio (BTI)||Balance to Income Ratio (BTI) of more than 12 times monthly income|
- 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
Latest 12 month's CPF Contribution History Statement3
Provide any one of these documents
Salary Crediting into DBS/POSB Account
Latest Computerised Payslip
- Proof of Outstanding Unsecured Facilities Document (any ONE of the following)
- Latest bank statements OR
- Confirmation letter evidencing new balance transfer/loans OR
- Any other relevant documents evidencing account information or balances
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.
- 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
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
|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.
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.
Frequently Asked Questions
Credit Bureau Report
If you wish to have a free credit report, you may obtain it within 30 calendar days from the date of approval or rejection of this application via the credit bureau website listed below. Alternatively, you may bring the approval or rejection letter and your NRIC to the following credit bureau’s registered office to obtain a free credit report.
Credit Bureau (Singapore) Pte Ltd
2 Shenton Way
#20-02 SGX Centre 1
Tel: (65) 6565 6363
* The free Credit Bureau Report is limited only to application of a new product such as Cashline, Credit Card, Further Study Assist. Applications such as Credit Limit increase, Balance Transfer / Personal Loan disbursed from existing products and existing principal cardholders applying for another card(s) are not entitled to the free credit report.