POSB Personal Loan

Compare POSB personal loan packages against offers from other leading car insurance providers in Singapore

About the provider

POSB or Post Office Savings Bank was established in 1877 which operated to be one of the largest local banks in Singapore. Operating today as part of the DBS Group, POSB has 53 branches in the country that offers traditional banking and financial products like credit cards and personal loans. On the other hand, POSB insurance products include premiums that cover property, travel, car and education among others.

Why should I choose POSB personal loan?

POSB personal loan is available with fixed interest rates and monthly installments. Customers can also enjoy the following features: 

  • Fixed interest rates from 6.99 percent up to 26.62 percent per annum
  • Monthly installments for one to five years’ tenor
  • Maximum loanable amount of four times your monthly salary

Why should I choose POSB personal loan?

Debt Consolidation Plan

With POSB, you can refinance and consolidate all your loans into one with the following perks: 

  • Interest rates from 4.58% per annum
  • Flexible loan tenure from one year to eight years
  • Clear your debts and reduce your expense on interest rates from other lenders

Reinstatement of Suspended Accounts

Customers can have the chance to reinstate their credit card and suspended unsecured credit facilities due to the reasons below: 

  • The total outstanding balances on all credit facilities do not exceed the borrowing limit for three consecutive months in Singapore
  • At least one of the accounts are past due for 60 days and more

Reinstatement is possible after income and credit bureau checks. It can also be affected by the reduction of aggregate interest-bearing balances or when regular payments are made to settle outstanding dues.

Balance Transfer

With POSB personal loan, customers can get extra cash the smartest way possible with the following features: 

  • Interest savings at 0% rate for a maximum of 12 months
  • Flexible repayment options from $50 to 2.5% or 3% of the statement balance, whichever is higher
  • Financial control – Be able to consolidate all balances on your credit cards into Cashline or POSB/DBS credit card

How do I qualify for POSB personal loan?


  • Singaporean or Permanent Resident
  • 21-65 years old
  • With a minimum annual income of $20,000 and above

Documents required:

For salaried employees: 

  • Copy of NRIC (front and back)
  • Latest 12 months CPF Contribution History Statement
  • Latest Income Tax Notice Assessment, or
  • Latest Computerized Payslip or Salary Crediting into POSB/DBS account

For commission-based employees: 

  • Copy of NRIC (front and back)
  • Latest 12 months’ statement of CPF Contribution History; or
  • Latest Income Tax Notice Assessment

For Self-employed:

  • Copy of NRIC (front and back)
  • Latest Income Tax Notice Assessment

How do I apply for POSB personal loan?

Here are two ways to apply for POSB personal loan. 


  • Login to iBanking using your User ID, PIN or the 6-digit iB Secure Pin
  • Select Apply and Personal Loan buttons
  • Enter the Loan Amount and Choose the Loan Tenure preferred
  • Select the credit card account you need to tie up the loan
  • Click Next and submit your application request

Please note that it takes 3-5 working days to process your request. Loan tenure options include 12, 24, 36, 48 and 60 months. POSB charges $150 as an early termination fee.


  • Login to Digibank with your User ID and PIN
  • Select the Apply button from the Menu
  • Choose the credit card account to tie up with your loan maintenance
  • Enter the desired loan amount and loan tenure
  • Select Savings or Current Account where the loan can be credited
  • Click Agree to Terms and Conditions then Continue
  • Verify all the information 
  • Click Confirm to submit your application request

What other products does POSB offer?

  • Credit cards – POSB Everyday Card provides customers with 14 percent rebate on everyday essentials spending. 
  • Debit cards – POSB PAssion and HomeTeamNS-PAssion debit cards come with free PAssion rewards and membership. You can also enjoy up to 2% of cash rebate
  • Car insurance – Get up to $150 cash upon installation of telematics device for free and accident repairs at preferred authorized workshops
  • Travel insurance – Insured individuals, can get immediate protection premiums for as low as $17.25. POSB also provides up $1,000,000 worth of emergency medical evacuation and overseas medical expenses
Last update on May 14, 2020