POSB Personal Loan

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POSB Personal Loan
  • Receive financing amount of up to 4X1 of your monthly salary, or up to 10X1 of your monthly salary if your annual income is S$120,000 and above.
  • Flat interest rates at 6.99% p.a for loan amount with tenures up to 5 years.
  • Get instant cash2 disbursement at any of our branches if you are currently crediting salary to POSB/ DBS deposit account.
  • A Cashline account is required for a POSB Personal loan grant. Please allow 7 working days for processing time.

    POSB Loan Assist is a unsecured loan where no guarantor and collateral is needed. Applicants will be loan to loan up to 4 times their salary if they have a high annual income with good credit score while repaying the loan from 1 to 5 years.  As for interest, you can enjoy up to 6.99% p.a flat interest rates. This rate will depends very much on loan amount and loan tenure.

    For customers with annual income of minimum S$30,000

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    For annual income of S$20,000 to less than S$30,000

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    A.I.R.: Applied Interest Rate
    E.I.R: Effective Interest Rate – inclusive of 2% or 4% processing fee.
    The above monthly instalment amounts have been simplified for illustration purposes

    Fees

    Despite the advertised low interest rates, POSB Loan Assist is subjected to 3% processing fees and 1% insurance fees.

    Late Payment Penalty

    You will be subjected to $80 for any late payment

    Eligibility

    This loan is open to Singaporeans, Permanent residents and Foreigners from 21 years to 65 years at the end of tenure. You will need to have a minimum annual income of $20,000 for Singaporeans and PR while a minimum annual income $45,000 for Foreigners with working permit.

    Documents required

    Employed

    • Photocopied NRIC front and back
    • Most recent 1 year CPF statement
    • Most recent Payslip
    • Income tax of assessment

    Foreigners

    • Valid Passport and employment pass
    • Most recent paylist
    • Income tax of assessment
    • Certificate of employment