POSB personal loans are easy to apply for if you are already a DBS/POSB customer. You can apply for it through internet banking and get it with minimal fuss - approval is instant, and the cash is disbursed immediately. But if you are not an existing customer, you will need to apply for a DBS/POSB credit card and savings account, so do this only if you are not in a rush to get the loan. You can apply for a DBS/POSB credit card and/or a savings account through MoneySmart as well.
Valid till 30 Apr 2020
Immediate if you have a DBS/POSB credit card and savings account.
Easy for existing customers, challenging for new customers.
DBS/POSB credit card and a DBS/POSB deposit account.
Seamless application journey. Apply directly on MoneySmart and enjoy instant cash disbursement.
Good for existing DBS/POSB customers who have cashflow needs. Apply only if you already have a DBS/POSB credit card and savings account - application is fuss-free and you get cash instantly.
The actual interest rate for a DBS/POSB personal loan is personalised based on your risk profile and credit history. You may get a higher interest rate when you apply for the loan. Foreigners get only 1 to 2 years loan tenure.
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