POSB Personal Loan

Great for instant approval and cash disbursal



  • Instant cash disbursal for POSB/DBS customers
  • Ease of application via POSB/DBs digibank
  • Personalised interest rates from as low as 3.88% p.a (EIR 7.56% p.a.)
  • Loan up to 10X of monthly salary


  • Personalised interest rate is not guaranteed as it is based on credit risk profile
  • Upfront processing fee of 1%
  • Early repayment fee: S$250
Summary of Product
Interest Rate: From as low as 3.88% p.a (EIR 7.56% p.a)
Loan Tenures: Choice of 1 to 5 years
Max. Credit Limit: Up to 10X of monthly salary
Min. Loan Amount: S$500
Turnaround Time: Instant approval and cash disbursement for DBS/POSB customers

Table of Content

Why should you choose POSB Personal Loan?

Low interest rate from 3.88% p.a for healthy credit score
Get rewarded for keeping your credit risk profile in tip-top shape, in the form of POSB’s personalised interest rate of 3.88% p.a (EIR 7.56% p.a) on personal loans. You may log in to your POSB or DBS online banking account after the loan application to check if you qualify.
Instant cash disbursal for POSB/DBS customers
Existing POSB/DBS customers will be pleased to know that the loan application can be done in a few simple steps via digibank, following which the funds will be immediately disbursed into the designated account upon approval.
Loan up to 10X of your monthly salary
High borrowing limit for those earning S$120,000 and above annually, when other banks’ are typically set at up to 6 to 8X. Great for those who might be planning for life-changing investments. Those earning between S$20,000 and S$120,000 can borrow up to 4X of monthly salary.
Relaxed income requirements
Interested loan applicants who are earning an annual salary of S$20,000 to S$30,000 can still get in on the personal loan, although it comes without the personalised interest rate. Maximum loan amount is also capped at S$5,000.

Who can apply?

Age Requirement 21 - 65 years old
Annual Income Requirement Singaporeans/PRs: S$20,000 and above

What charges or fees should you look out for?

Processing fee 1% of approved loan amount
Late Payment fee S$100 for Credit Card Personal Loan S$100 for Cashline Personal Loan
Early Termination fee S$250
Finance charge If the instalment amount is not made by due date, 26.8% p.a will be charged for DBS/POSB Credit Card full outstanding Instalment Amount; Prevailing interest rate of 20.5% p.a or 29.8% p.a will be charged for DBS Cashline full outstanding Instalment Amount

How to apply?

If you are an existing POSB/DBS customer, all you need is to log in to your iBanking/mBanking/ATM or debit/credit cards and submit a short application. Do prepare the following documents:
Salaried employees Past 9 months’ of CPF Contribution History statement (if Singaporean/PR); OR Latest Income Tax Notice of Assessment; OR Latest computerised payslip or salary crediting into your DBS/POSB account
Self-employed Latest Income Tax Notice of Assessment
All Applicants Front and back of NRIC/Passport/Employment Pass

Is POSB Personal Loan the best option for you?

POSB Personal Loan not the right fit? Here are some other personal loans for your consideration depending on your profile:
  • HSBC is currently offering an exclusive rate from 3.7% p.a (EIR from 7% p.a).
  • Standard Chartered is your best option as they offer 3.8% p.a (EIR from 7.63% p.a) for all loan amount and tenures.
  • OCBC is offering you a promotional rate of 5.8% p.a (EIR from 12.11% p.a).
Note that your eligibility for approval is at the discretion of each bank.

Appendix: Summary of Interest Rate for all tenures

For Customers with Annual Income >S$30,000
Loan Tenure Flat Interest Rate (p.a) Effective Interest Rate (p.a) Processing Fee Monthly Instalments
1 year 3.88% 8.89% 1% S$1,731.33
2 years 3.88% 8.2% 1% S$898.00
3 years 3.88% 7.9% 1% S$620.22
4 years 3.88% 7.71% 1% S$481.33
5 years 3.88% 7.56% 1% S$398.00
For Customers with Annual Income S$20,000 - S$30,000
Loan Tenure Flat Interest Rate (p.a) Effective Interest Rate (p.a) Processing Fee Monthly Instalments
1 year 11% 26.62% 4% S$462.50
2 years 11% 23.26% 4% S$254.17
3 years 11% 21.74% 4% S$184.72
4 years 11% 20.75% 4% S$150.00
5 years 11% 20.01% 4% S$129.17
*Note that the above monthly repayment is based on the calculation of S$20,000 loan amount, unless otherwise stated.
Looking for other personal loans? Check out the Best Personal Loans in Singapore 2020.