DBS Cashline: A Good Source of Emergency Cash?

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DBS cashline

DBS Cashline lets you save on interest when borrowing cold, hard cash.

DBS Cashline terms and conditions stated here are valid as of 17 May 2016. Terms and conditions may have changed since then.

When Singaporeans need urgent cash, they turn to personal instalment loans or cash advances from a credit card. But the two things we don’t realise are a personal instalment loan has a fixed loan amount and repayment tenure (minimum of 12 months), and a credit card charges exorbitant interests on cash advances.

Before resorting to a cash advance, see if a credit line is enough to cope with your needs. Credit lines in Singapore allow you to borrow money by withdrawing it from an ATM or transferring it to your savings or current account.

A great credit line option to try is DBS Cashline. In this review, we break down the in’s and out’s of DBS Cashline, so you can determine if it’s the right option for you.

What is DBS Cashline?

DBS Cashline gives you access to cash up to four times your income, which you can withdraw from an ATM. Unlike credit cards, which charge a hefty cash advance fee of 6% of the withdrawn amount or S$15 (whichever is higher), there are no withdrawal fees for getting cash out of a line of credit.

At 19.8% per annum, the DBS Cashline charges a lot less than the average cash advance from a credit card–which would be around 28% per annum. The S$80 annual fee is also waived for the first year.

To save on interest, we strongly encourage users to repay their entire debt within 12 months. If you are going to take longer to make repayment, choose a personal instalment loan instead.

credit line

DBS Cashline vs Other Credit Lines

Say, you wish to take a loan. But you want it in cash, and you need it as soon as possible. Is DBS Cashline really the best option?

Here’s how the DBS Cashline compares to other credit lines and a cash advance from a credit card:

Interest Rate

Other Fees

Minimum Payment Monthly

Total Interest Paid for S$1,000 Loan (30 days)

DBS Cashline (Credit Line)

19.8% p.a. S$80 annual fee (waived first year) 2.5% of outstanding balance or S$50, whichever is higher S$16.2

Citibank Ready Credit
(Credit Line)

19.95% p.a. S$80 annual fee (waived first year) 3% of statement balance or S$45, whichever is higher S$16.4

HSBC Personal Line of Credit (Credit Line)

18.5% p.a. S$60 annual fee (waived first two years) 3% of statement balance or S$15, whichever is higher S$13.6

Cash Advance from Credit Card

28% p.a. 6% or S$15 withdrawal fee, whichever is higher 3% of statement balance or S$50, whichever is higher S$23


Fast, Hassle-Free Application Process

If you are an existing DBS Customer and have a DBS Internet Banking (IB) account, you can apply for a DBS Cashline account by simply logging in using your DBS IB user ID and password. The application process only takes about 10 minutes online, and you’ll get approval quickly.

You can also download the DBS Quick Credit App on the App Store or Google Play. Use this to apply and receive approval-in-principle within minutes.

Once your Cashline account has been approved, you can log on to your IB account to transfer cash, top up your Cashline, and request for an IB e-cheque online.

is DBS cashline for you

Apply Online and Get S$20 Welcome Gift

Apply for DBS Cashline online and receive a S$20 credit into your cashline account! Just send your application between now and 30 June 2016 to qualify. Existing Citibank customers may use their iBanking account to apply.

Is DBS Cashline Right For Me?

If you need a loan to tide you over for a short period (six months to a year), consider using a line of credit. You will save money by paying less interest, assuming you pay it back as soon as possible (the quicker you make repayment, the less interest you will pay). If you are between jobs or need emergency money, DBS Cashline is an option worth looking into.