At a Glance
Lower interest rate at 4.38% p.a. with 2.5% processing fee.
Loan up to 10x of monthly or combined income for max loan amount of S$160,000, whichever is lower.
Flexible repayment period up to 10 years that best suit your needs.
Rates and Fees
| Interest rate | 4.38% p.a. |
| Processing fee | 2.5% of the approved loan amount (deducted upfront upon first disbursement) |
| Late payment fee | $30 on overdue amount after the 1st of every month |
| Cancellation fee | No charges |
| Full/partial repayment fee | No charges |
| Disbursement fee | No charges. Disbursement will be made via Telegraphic Transfer/MEPS to the Institution |
Calculator
Estimate your monthly repayment - input your loan amount and tenor
Work out the loan solution you need!
The loan solution you need is:
Cashline
DBS may grant such credit limit at its discretion, which may differ from what is requested.
Here's your monthly interest repayment breakdown:
Disclaimer: 20.50% per annum, effectively 0.08% per day. Interest rates may differ.
If you're using your credit card:
Balance Transfer
Your loan repayment breakdown:
| Tenure | Compare repayment breakdown3 mths | ||
|---|---|---|---|
| One-time administration fee |
S$ 00.00
Based on 0% admin rate
|
S$ 00.00
Based on 0% admin rate
|
S$ 00.00
Based on 0% admin rate
|
| Interest payable with Balance Transfer (0% p.a.) |
S$ 0.00
|
S$ 0.00
|
S$ 0.00
|
| Effective Interest Rate (EIR) * |
12.50%
|
12.50%
|
2.00%
|
| Min. payment per month ^ |
S$ 0.00
|
S$ 0.00
|
S$ 0.00
|
| Interest payable on your credit card (24% p.a.) |
S$ 00.00
|
S$ 00.00
|
S$ 00.00
|
| Your savings with Balance Transfer vs. Credit Card |
S$ 00.00
|
S$ 00.00
|
S$ 00.00
|
* The Effective Interest Rate is calculated taking into consideration the administration fee, and is based on the assumption of a minimum monthly payment of 2.50% for Cashline / 3.00% for DBS/POSB Credit Card(s) of the outstanding and full payment in the final month of the promotional period.
^ The minimum payment is S$50 or 3.00% of the statement balance, whichever is higher.
Personal Loan
| Tenure | Compare your term period1 Year | 1 Year | 2 Years | 3 Years | 4 Years | 5 Years |
|---|---|---|---|---|---|---|
|
Max loan
Loan amount
|
S$ 0.00
|
S$ 0.00
|
S$ 0.00
|
S$ 0.00
|
S$ 0.00
|
|
| Interest rate (p.a.)* |
- %
|
- %
|
- %
|
- %
|
- %
|
|
| Effective interest rate (p.a.) |
- %
|
- %
|
- %
|
- %
|
- %
|
|
| One-time processing fee (1%) |
S$ 0.00
|
S$ 0.00
|
S$ 0.00
|
S$ 0.00
|
S$ 0.00
|
|
| Monthly repayment^ |
S$ 0.00
|
S$ 0.00
|
S$ 0.00
|
S$ 0.00
|
S$ 0.00
|
* The interest rate and processing fee offered to you is based on your personal credit profile and may differ from the published rate and rate offered to other borrowers. Please refer to the actual rate in the online application form.
^ The monthly and total repayment amount shown is only an estimation and may differ due to rounding differences. The actual monthly repayment will be indicated in the letter mailed to you upon approval of your loan.
The loan solution you need is:
Further Study Assist
- Total disbursement amount should match the loan amount indicated.
- Month of disbursement should be in sequence with no duplicates.
- Total number of disbursement should match what was indicated.
| Disbursement | Month of Disbursement (in sequence) | Disbursement Amount (S$) | Instalment Effective from Month | Estimated/ Revised Monthly instalment* |
|---|---|---|---|---|
|
1st (incl. processing fee)
|
0
|
S$
|
1
|
S$ 0.00
|
| Disbursement Total |
0
|
S$ 0.00
|
||
* The monthly and total repayment amount shown is only an estimation and may differ due to rounding differences. The actual monthly repayment will be indicated in the letter mailed to you upon approval of your loan.
Work out the loan solution you need!
≥ S$30,000 p.a. < S$120,000 p.a.
To be eligible, your Balance to Income Ratio (BTI) must be more than 12x your monthly income.
0x
Debt Consolidation Plan
Enjoy interest rates from as low as 3.58% p.a.
| Tenure | Compare your term period | 1 Year | 2 Years | 3 Years | 4 Years | 5 Years | 6 Years | 7 Years | 8 Years |
|---|---|---|---|---|---|---|---|---|---|
| Loan Amount |
S$ 0.00
|
S$ 0.00
|
S$ 0.00
|
S$ 0.00
|
S$ 0.00
|
S$ 0.00
|
S$ 0.00
|
S$ 0.00
|
|
| Monthly instalment |
S$ 0.00
|
S$ 0.00
|
S$ 0.00
|
S$ 0.00
|
S$ 0.00
|
S$ 0.00
|
S$ 0.00
|
S$ 0.00
|
|
| Interest rate (p.a.) * |
- %
|
- %
|
- %
|
- %
|
- %
|
- %
|
- %
|
- %
|
|
| Effective interest rate (p.a.) |
- %
|
- %
|
- %
|
- %
|
- %
|
- %
|
- %
|
- %
|
|
| Processing fee ^ |
S$ 0.00
|
S$ 0.00
|
S$ 0.00
|
S$ 0.00
|
S$ 0.00
|
S$ 0.00
|
S$ 0.00
|
S$ 0.00
|
|
| Total loan amount (with interest) |
S$ 0.00
|
S$ 0.00
|
S$ 0.00
|
S$ 0.00
|
S$ 0.00
|
S$ 0.00
|
S$ 0.00
|
S$ 0.00
|
Note:
* The interest rate indicated is the lowest published rate and may differ from what is offered to you. The interest rate and fee offered to you will be displayed during your application and is based on your personal credit and income profile, subject to the bank’s discretion.
* The interest rates used in this calculator and the amounts shown are for illustration purposes only.
^ Figures are for illustration only. Processing Fee is charged upfront together with your first monthly instalment.
Eligibility Requirements
Borrower
- Singapore Citizen / Singapore Permanent Resident
- 17 – 65 years (upon loan maturity)
- Minimum Annual Gross Income S$18,000
Guarantor1
- Singapore Citizen / Singapore Permanent Resident
- 21 – 65 years (upon loan maturity)
- Minimum Annual Gross Income S$24,000
- Must be an immediate family member
1A Guarantor is required for part time student below age 21; full-time student; studying overseas; applicant who requires a loan amount which is higher than the eligible credit limit; or does not meet the minimum income requirement.
Required Documents
| Mandatory2 | Salaried Employees | Variable Commission- based Employees/Self Employed | |
|---|---|---|---|
| NRIC (Front & Back) | √ | √ | √ |
| Letter of Acceptance stating course type and course duration | √ | ||
| Invoice of payment for course fee3 | √ | ||
| Latest 1 Year Income Tax Notice of Assessment (NOA)4 | Any one of the two documents | √ | |
| Latest Computerised Payslip or Salary Crediting into POSB/DBS Account |
2 Applicant applying with guarantor must provide birth certificate or marriage certificate to prove the relationship.
3 Invoice is not necessary if the schedule of fee payment is stated in the student’s contract/ acceptance letter.
4 For salaried employees, NOA must be submitted with an additional payslip.
| Approved Institution | |
|---|---|
| Local Institute |
|
| Overseas Institute | Reputable overseas institutions that are amongst the Top 1000 ranking by independent accreditation boards |
Reference: List of approved institutions
Illustration
The below illustration is for lump sum disbursement with fixed monthly repayment, spread over 1 to 10 years of loan tenure.
| Approved loan amount | S$5,000 | S$10,000 | S$30,000 | |
|---|---|---|---|---|
| Less processing fee | 2.50% | 2.50% | 2.50% | |
| Disbursed loan amount | S$4,875 | S$9,750 | S$29,250 | |
| Loan tenure | Interest rate (p.a.)1 | Installment amount per month | ||
| 1-year | 4.38% | S$427 | S$854 | S$2,560 |
| 3-year | 4.38% | S$149 | S$297 | S$891 |
| 5-year | 4.38% | S$93 | S$186 | S$558 |
| 8-year | 4.38% | S$62 | S$124 | S$372 |
| 10-year | 4.38% | S$52 | S$104 | S$310 |
| Eligible loan amount | Up to 10x combined monthly income | |||
Note: Above calculations are for illustration purpose only and should not be taken to be a guarantee of the actual amounts payable.
For progressive disbursements, the monthly installment amount will increase with each subsequent disbursement. The revised monthly installment amount will be calculated based on outstanding loan balance and remaining tenure.
1 Interest is calculated on a monthly rest basis.
Apply Now
Important Notes:
- The loan amount will be disbursed immediately to your designated institution, please note that we are not able to hold back/defer the loan disbursement once the loan is approved. Interest will start to accrue and monthly instalment will commence upon loan disbursement.
- We encourage you to apply about 1 month before the payment due date as indicated by your school ie: if your school fees are due in September, you can submit your application in August. This will allow sufficient time for your loan to be processed and disbursed.
- If we require further information or documentations to process your application, we will reach out to your registered email.
- Please note that the loan amount does not cover fees that are already paid.
Apply via this online form if you do not require a guarantor.
If a guarantor is required, kindly print, complete and mail in the completed hardcopy form instead.
| Other Forms | |
|---|---|
| POSB Further Study Assist Subsequent Disbursement Authorisation Form | Apply Online |
| POSB Further Study Assist Loan Repayment Slip | Apply Online |
Click here for the latest POSB Further Study Assist Terms and Conditions.
Frequently Asked Questions
Pre - Application Related
For single applicant (without guarantor), you can apply via online form.
If you are applying with a guarantor, you can download the application form here.
The maximum credit limit is 10 times of your monthly income or your unpaid course fees, capped at S$160,000, whichever is lower. Please note that the bank has the discretion to grant a lower limit which may be different from what you have requested.
Interest is computed on a monthly rest basis and is based on 365 days regardless of leap year.
Yes. There is a 2.5% one time processing fee that will be deducted from the approved loan.
Example:
Approved Loan amount : S$10,000
2.5% processing fee of loan : S$250
Disbursement amount received: S$9,750
- Below the age of 21 years old;
- Studying on a full time basis;
- Studying overseas;
- Do not meet the minimum income eligibility of S$18,000 per annum; or
- Require a loan amount which is higher than your eligible credit limit.
- Your immediate family member i.e.: parent / sibling / child or spouse; Proof of relationship between the Main Applicant & Guarantor by providing birth certificate or marriage certificate is required when you submit your application. Step-parent/children are acceptable.
- Second degree family member can be considered, provided relevant proof of relationship is submitted.
- Singapore Citizen or Permanent Resident residing in Singapore;
- Aged between 21 – 65 years old (upon loan maturity);
- Earning a minimum gross annual income of S$24,000.
No. Only 1 guarantor is allowed and your guarantor must be your immediate family member. Step-parent/children are acceptable. However, second degree family member can be considered, provided relevant proof of relationship is submitted.
Yes, you are required to submit either Birth Certificate or Marriage Certificate to prove the relationship.
Yes, there is an admin fee of S$50 for changes of the disbursement amount after Telegraphic Transfer/MEPS has been credited.
Loan Processing/ Disbursement Related
We will process your application within 7 working days. Applications not accompanied with required documents or with incomplete information will result in a delay in processing. We will notify you via your registered email if we require further clarifications / documentations.
Upon approval/decline, you will receive an email notification. For approved loan application, you will receive a welcome letter to your address.
A direct credit via Telegraphic Transfer/MEPS will be made to the designated Institution’s account provided in your application. You can check with your institution on the payment status if required.
No, the loan amount will be disbursed via Telegraphic Transfer/MEPS directly to the designated Institution’s account.
No, the loan amount cannot be increased once the loan has been approved.
No. There is no cancellation fee should you cancel the loan prior to approval. Please do note that you will still be fully liable for the processing fee should you request to cancel after your loan is approved.
Click Request for subsequent disbursement to apply.
Please allow 14 working days for processing upon receipt of your subsequent disbursement form and payment instructions.
Repayment Related
Repayment will commence the following month after your loan is approved.
No. You are required to start your monthly repayments the month after your loan is approved.
Yes. The minimum loan amount is S$2000.
No. The monthly repayment must be made via a DBS/POSB bank account belonging to you or your guarantor. You may open an account here.
The monthly instalment amount will be deducted from your designated DBS/POSB savings account. Monthly instalment will be automatically deducted on the 1st of every month.
Repayment is to be made on the 1st of every month. Kindly ensure that your Loan Servicing Account has sufficient funds before the end of each month.
A late payment fee of S$30 per month will be imposed on each overdue instalment.
No. Your interest rate remains as at the time the loan was approved. It will be fixed throughout your loan tenor.
No, there will not be any monthly statements. The statement of your loan will be sent to you on a yearly basis.
You can check your digibank for the outstanding loan balance as of current cycle.
