Split your income tax into instalments & earn points!

Split your income tax into instalments & earn miles!

Income tax payment due soon? Instead of dipping into your cash savings to pay in full, ease your cashflow by splitting them into smaller payments of up to 24 months with My Preferred Payment Plan (MP3).Plus, choose to earn 1.5 miles per S$1 of your monthly instalment on eligible DBS/POSB Credit Cards¹ – equivalent to buying miles at only 1.67 cents per mile!Start accumulating miles for your next escape today!

How it works

Here are 2 ways you can split your S$2,400 income tax payment:

MP3 Savings Account

MP3 for Income Tax Payment

You’ve paid through your DBS/POSB Savings Account.

You’ve paid through your DBS/POSB Credit Card via Internet Banking Bill Payment.

Within 30 days, you apply for MP3 (Savings Account) via digibank mobile and split this transaction into instalments of up to 24 months², and choose to earn reward points (if applicable)³.

You apply for MP3 for Income Tax Payment via the online Application Form (within 14 days of statement date where the transaction is sighted). Transaction will be split into 12-months instalment at a low, 2.5% one-time processing fee.

Upon doing so, S$2,400 will be credited back immediately into your Savings Account and the same amount will be charged to your Credit Card as a monthly instalment plan.

Once application has been processed (within 3 – 5 working days), S$2,400 will be reversed and charged back into your Credit Card and charged as a monthly instalment plan.

Now, instead of paying the full amount in 1 transaction, you will be paying a smaller amount every month.

Plus, you get to enjoy 0.75 DBS Points per S$1 on your monthly instalment posting if you’ve selected the ‘Earn Rewards Points’ option during application.

Plus, you get to enjoy 0.75 DBS Points per S$1 on your monthly instalment posting.

¹ Only DBS/POSB Credit Cards that reward you with DBS Points are eligible.
² A low one-time processing fee applies. Applicable fee will be shown upon tenure selection.
³ ‘Earn Reward Points’ option must be selected during the application process to be awarded DBS Points.

How to apply for MP3 (Savings Account)

Step 1: Log in to digibank mobile and tap More

Step 2: Under Apply, select Pay By Instalments and tap Deposit Account

Step 3: Select the transaction you wish to convert

Step 4: Select the Credit Card for the monthly instalment posting, instalment period, and choose to ‘Earn Rewards Points’ on eligible Credit Cards

Step 5: Review the details and tap Apply Now to submit your application

Terms and Conditions Governing My Preferred Payment Plan (Savings Account)

Apply now

How to apply for MP3 for Income Tax PaymentStep 1: Pay your income tax using your DBS/POSB Credit Card via Internet Banking Bill PaymentStep 2: Once transaction is posted in your transaction history, submit your application on the online MP3 for Income Tax Payment Application FormYour application will be processed within 3 – 5 working days. Upon successful application, the amount will be credited back to your Credit Card account and the monthly instalment will begin in the next statement.Terms and Conditions Governing My Preferred Payment Plan for Income Tax PaymentNew digibank mobile user?

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