Best DBS & POSB Loans 2021

POSB and DBS are one of the leading lenders in Singapore. In this guide, our team of analysts identifies the best loans from DBS & POSB for those interested in applying for a loan from either of the banks.

POSB & DBS Personal Loan: Fastest Personal Loan Disbursement

PROMO: Get 1% cashback on approved loans
Consider this if you seek a personal loan with a immediate cash disbursement
  • Eligibility
    • S$20,000 of annual income
    • Max. Loan Amount
      • 4x monthly salary; 10x monthly salary for income > S$120,000
      • Min. Loan Amount
        • S$500
        • Processing Fee
          • 1% of loan principal, waived for loans of more than S$30,000
          • Approval Time
            • Immediate approval & disbursement for DBS & POSB credit card or line of credit customers
            Loan DurationFlat RateFeeEIRMonthly PaymentTotal Cost
            1 year3.88%1%7.56%S$865.67S$488
            2 years3.88%1%7.56%S$449.00S$876
            3 years3.88%1%7.56%S$310.11S$1,264
            4 years3.88%1%7.56%S$240.67S$1,652
            5 years3.88%1%7.56%S$199.00S$2,040
            *Assuming loan of S$10,000

            DBS and POSB offer competitive interest rates (from 3.88%), which makes the banks worth considering. Furthermore, DBS and POSB offer competitive instant cash disbursement to eligible borrowers. Due to these factors, DBS is one of the top lenders when it comes to personal loans in Singapore.

            Read Our Full Review

            Note: The interest rate and processing fee offered to you is based on your personal credit and income profile. It may differ from the published rate and the rate offered to other borrowers.

            DBS Home Loan: Competitive Home Loan Interest Rates

            DBS is typically one of the most affordable home lenders in Singapore. Below are DBS's best home loan rates as of December 5, 2021. To better understand how these rates compare, check out free ValueChampion's comparison of the best current home loan rates. It is also important to note that DBS mortgage customers are eligible for preferential renovation loan and savings deposit rates.

            Read Our Full Review

            Bank1st Yr InterestLock-in PeriodApply Now
            DBS SORA0.96%2 years
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            DBS Board1.00%3 years
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            DBS Board1.00%2 years
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            DBS Board1.10%3 years
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            DBS Board1.10%2 years
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            Bank1st Yr InterestLock-in PeriodApply Now
            DBS SORA0.96%2 years
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            DBS Board1.00%3 years
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            DBS Board1.00%2 years
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            DBS Board1.10%3 years
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            DBS Board1.10%2 years
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            Bank1st Yr InterestLock-in PeriodApply Now
            DBS SORA1.04%0
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            DBS SORA1.11%0
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            DBS Board1.25%0
            {"endpoint":"https:\/\/redbrick.valuechampion.sg\/api\/redbrick","inputs":{"filter_bank":["DBS"],"filter_interest_type":"both","filter_lock_in":"false","individual_or_company":"individual","loan_tenure":25,"loan_type":"new_loan","property_type":"private","sort":"total_interest_cost","construction_status":"under-construction","loan_amount":500000,"property_purchase":"yes"},"loan":{"bank_name":"DBS","name":"Board","interestRateYear1":"1.05","interestRateYear2":"1.05","interestRateYear3":"1.05","interestRateYear4":"1.05","interestRateYear5":"1.05","interestRateYear6Plus":"1.05","lockInPeriod":0,"features":"1 x Free Conversion from disbursement to 6month from T.O.P\r\n","additionalInformation":"","propertyType":"private-under-construction,hdb-under-construction","loanType":"new","minLoanAmount":100000,"rt1":"FHR6 (DBS)","rt2":"FHR6 (DBS)","rt3":"FHR6 (DBS)","rt4":"FHR6 (DBS)","rt5":"FHR6 (DBS)","rt6":"FHR6 (DBS)","rt1r":"0.20","rt2r":"0.20","rt3r":"0.20","rt4r":"0.20","rt5r":"0.20","rt6r":"0.20","rt1r_first_day":"0.2000","rt2r_first_day":"0.2000","rt3r_first_day":"0.2000","rt4r_first_day":"0.2000","rt5r_first_day":"0.2000","rt6r_first_day":"0.2000","sumYear1":"1.25","sumYear2":"1.25","sumYear3":"1.25","sumYear4":"1.25","sumYear5":"1.25","sumYear6":"1.25","sum":"1.25","y2":"$1,941","y3":"$1,941","y4":"$1,941","y5":"$1,941","y6":"$1,941","y1":"$1,941","monthly_installments":"$1,941","total_interest_cost":82300,"metadata":{"_id":18,"collection":"home_loans","apply_now_text":"Check Rates","apply_now_icon_hidden":true,"apply_now_redirect":false,"pros_label":"Pros","cons_label":"Cons"}}}
            Bank1st Yr InterestLock-in PeriodApply Now
            DBS SORA0.96%2 years
            {"endpoint":"https:\/\/redbrick.valuechampion.sg\/api\/redbrick","inputs":{"filter_bank":["DBS"],"filter_interest_type":"both","filter_lock_in":"false","individual_or_company":"individual","loan_tenure":25,"loan_type":"refinance","property_type":"hdb","sort":"total_interest_cost","current_financer":"WESTPAC","current_interest_rate":5,"existing_loan_amount":500000},"loan":{"bank_name":"DBS","name":"SORA","interestRateYear1":"0.80","interestRateYear2":"0.80","interestRateYear3":"1.00","interestRateYear4":"1.00","interestRateYear5":"1.00","interestRateYear6Plus":"1.00","lockInPeriod":"2 years","features":"","additionalInformation":"","propertyType":"private-loan,hdb-loan","loanType":"new,refinance","minLoanAmount":300000,"rt1":"3m SORA","rt2":"3m SORA","rt3":"3m SORA","rt4":"3m SORA","rt5":"3m SORA","rt6":"3m SORA","rt1r":"0.16","rt2r":"0.16","rt3r":"0.16","rt4r":"0.16","rt5r":"0.16","rt6r":"0.16","rt1r_first_day":"0.1572","rt2r_first_day":"0.1572","rt3r_first_day":"0.1572","rt4r_first_day":"0.1572","rt5r_first_day":"0.1572","rt6r_first_day":"0.1572","sumYear1":"0.96","sumYear2":"0.96","sumYear3":"1.16","sumYear4":"1.16","sumYear5":"1.16","sumYear6":"1.16","sum":"0.96","y2":"$1,875","y3":"$1,916","y4":"$1,916","y5":"$1,916","y6":"$1,916","y1":"$1,875","monthly_installments":"$1,875","total_interest_cost":73816,"metadata":{"_id":18,"collection":"home_loans","apply_now_text":"Check Rates","apply_now_icon_hidden":true,"apply_now_redirect":false,"pros_label":"Pros","cons_label":"Cons"}}}
            DBS Board1.00%3 years
            {"endpoint":"https:\/\/redbrick.valuechampion.sg\/api\/redbrick","inputs":{"filter_bank":["DBS"],"filter_interest_type":"both","filter_lock_in":"false","individual_or_company":"individual","loan_tenure":25,"loan_type":"refinance","property_type":"hdb","sort":"total_interest_cost","current_financer":"WESTPAC","current_interest_rate":5,"existing_loan_amount":500000},"loan":{"bank_name":"DBS","name":"Board","interestRateYear1":"0.80","interestRateYear2":"0.85","interestRateYear3":"0.90","interestRateYear4":"1.00","interestRateYear5":"1.00","interestRateYear6Plus":"1.00","lockInPeriod":"3 years","features":"Interest Capped 1.80% for 3 years\r\n\r\nWaiver of Penalty due to sale","additionalInformation":"","propertyType":"private-loan,hdb-loan","loanType":"new,refinance","minLoanAmount":500000,"rt1":"FHR6 (DBS)","rt2":"FHR6 (DBS)","rt3":"FHR6 (DBS)","rt4":"FHR6 (DBS)","rt5":"FHR6 (DBS)","rt6":"FHR6 (DBS)","rt1r":"0.20","rt2r":"0.20","rt3r":"0.20","rt4r":"0.20","rt5r":"0.20","rt6r":"0.20","rt1r_first_day":"0.2000","rt2r_first_day":"0.2000","rt3r_first_day":"0.2000","rt4r_first_day":"0.2000","rt5r_first_day":"0.2000","rt6r_first_day":"0.2000","sumYear1":"1.00","sumYear2":"1.05","sumYear3":"1.10","sumYear4":"1.20","sumYear5":"1.20","sumYear6":"1.20","sum":"1.00","y2":"$1,895","y3":"$1,906","y4":"$1,926","y5":"$1,926","y6":"$1,926","y1":"$1,884","monthly_installments":"$1,884","total_interest_cost":76684,"metadata":{"_id":18,"collection":"home_loans","apply_now_text":"Check Rates","apply_now_icon_hidden":true,"apply_now_redirect":false,"pros_label":"Pros","cons_label":"Cons"}}}
            DBS Board1.00%2 years
            {"endpoint":"https:\/\/redbrick.valuechampion.sg\/api\/redbrick","inputs":{"filter_bank":["DBS"],"filter_interest_type":"both","filter_lock_in":"false","individual_or_company":"individual","loan_tenure":25,"loan_type":"refinance","property_type":"hdb","sort":"total_interest_cost","current_financer":"WESTPAC","current_interest_rate":5,"existing_loan_amount":500000},"loan":{"bank_name":"DBS","name":"Board","interestRateYear1":"0.80","interestRateYear2":"0.90","interestRateYear3":"1.00","interestRateYear4":"1.00","interestRateYear5":"1.00","interestRateYear6Plus":"1.00","lockInPeriod":"2 years","features":"Waiver of Penalty Due to Sale","additionalInformation":"","propertyType":"private-loan,hdb-loan","loanType":"new,refinance","minLoanAmount":500000,"rt1":"FHR6 (DBS)","rt2":"FHR6 (DBS)","rt3":"FHR6 (DBS)","rt4":"FHR6 (DBS)","rt5":"FHR6 (DBS)","rt6":"FHR6 (DBS)","rt1r":"0.20","rt2r":"0.20","rt3r":"0.20","rt4r":"0.20","rt5r":"0.20","rt6r":"0.20","rt1r_first_day":"0.2000","rt2r_first_day":"0.2000","rt3r_first_day":"0.2000","rt4r_first_day":"0.2000","rt5r_first_day":"0.2000","rt6r_first_day":"0.2000","sumYear1":"1.00","sumYear2":"1.10","sumYear3":"1.20","sumYear4":"1.20","sumYear5":"1.20","sumYear6":"1.20","sum":"1.00","y2":"$1,906","y3":"$1,927","y4":"$1,927","y5":"$1,927","y6":"$1,927","y1":"$1,884","monthly_installments":"$1,884","total_interest_cost":77332,"metadata":{"_id":18,"collection":"home_loans","apply_now_text":"Check Rates","apply_now_icon_hidden":true,"apply_now_redirect":false,"pros_label":"Pros","cons_label":"Cons"}}}
            DBS Board1.10%3 years
            {"endpoint":"https:\/\/redbrick.valuechampion.sg\/api\/redbrick","inputs":{"filter_bank":["DBS"],"filter_interest_type":"both","filter_lock_in":"false","individual_or_company":"individual","loan_tenure":25,"loan_type":"refinance","property_type":"hdb","sort":"total_interest_cost","current_financer":"WESTPAC","current_interest_rate":5,"existing_loan_amount":500000},"loan":{"bank_name":"DBS","name":"Board","interestRateYear1":"0.90","interestRateYear2":"0.90","interestRateYear3":"0.90","interestRateYear4":"1.00","interestRateYear5":"1.00","interestRateYear6Plus":"1.00","lockInPeriod":"3 years","features":"Interest Capped 1.80% for 3 years\r\n\r\nWaiver of Penalty due to sale","additionalInformation":"","propertyType":"private-loan,hdb-loan","loanType":"new,refinance","minLoanAmount":100000,"rt1":"FHR6 (DBS)","rt2":"FHR6 (DBS)","rt3":"FHR6 (DBS)","rt4":"FHR6 (DBS)","rt5":"FHR6 (DBS)","rt6":"FHR6 (DBS)","rt1r":"0.20","rt2r":"0.20","rt3r":"0.20","rt4r":"0.20","rt5r":"0.20","rt6r":"0.20","rt1r_first_day":"0.2000","rt2r_first_day":"0.2000","rt3r_first_day":"0.2000","rt4r_first_day":"0.2000","rt5r_first_day":"0.2000","rt6r_first_day":"0.2000","sumYear1":"1.10","sumYear2":"1.10","sumYear3":"1.10","sumYear4":"1.20","sumYear5":"1.20","sumYear6":"1.20","sum":"1.10","y2":"$1,907","y3":"$1,907","y4":"$1,927","y5":"$1,927","y6":"$1,927","y1":"$1,907","monthly_installments":"$1,907","total_interest_cost":77380,"metadata":{"_id":18,"collection":"home_loans","apply_now_text":"Check Rates","apply_now_icon_hidden":true,"apply_now_redirect":false,"pros_label":"Pros","cons_label":"Cons"}}}
            DBS Board1.10%2 years
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            DBS Car Loans: Cheapest Rates for Used Car Loans

            PROMO: Get 1.68% interest for green cars
            Consider this if you require a car loan to purchase a used car
            • Interest Rate
              • 2.78%
              • Maximum Principal
                • Up to 60% or 70% of car price
                • Maximum Term
                  • 7 years
                  Duration (Years)Flat RateEIRMonthly PaymentTotal Interest Cost
                  11.99%3.67%S$5,949S$1,393
                  21.99%3.78%S$3,033S$2,786
                  31.99%3.82%S$2,061S$4,179
                  41.99%3.82%S$1,574S$5,572
                  51.99%3.81%S$1,283S$6,965
                  61.99%3.81%S$1,089S$8,358
                  71.99%3.79%S$949$9,751
                  Assuming loan of S$70,000

                  DBS offers the cheapest car loans for individuals that plan to purchase a used car. While other banks may not seem significantly more expensive (typically 2.9% to 3%), they end up being hundreds of dollars more expensive in terms of total interest paid. Additionally, DBS offers the same maximum principals as other banks, with loans of up to 70% of the car's purchase price.

                  Read Our Full Review

                  DBS Renovation Loans: Competitive Renovation Loan Rates

                  Consider this if you are a current home loan customer
                  • Maximum Principal
                    • 6x Monthly Income or S$30,000
                    • Rest Rate
                      • 3.88%
                      • Cashier Fee
                        • Free 1st, S$5 fee after, max 4
                        MaturityFeesInterest RateMonthly InstalmentTotal Cost
                        1 Year2%3.88%S$1,276S$617
                        2 Years2%3.88%S$614S$914
                        3 Years2%3.88%S$442S$1,214
                        4 Years2%3.88%S$338S$1,518
                        5 Years2%3.88%S$275S$1,826
                        *Assuming loan of S$15,000

                        DBS offers affordable renovation loan rates (3.88% for new customers), especially for its current home loan customers (2.88%). The bank's renovation loans are particularly competitive for longer tenures, though it doesn't charge the lowest interest rates for short-term loans renovation loans. DBS also charges higher fees (1% handling fee + 1% insurance premium) than its competitors. With that said, DBS is the most affordable option for those that are currently home mortgage loan customers.

                        Read Our Full Review

                        POSB Further Assist: Education Loan with Low Fees

                        Consider this if you need a student loan and are worried about making on-time payments
                        • Early Repayment Fee
                          • N/A
                          • Late Payment Fee
                            • S$30
                            • Age
                              • 17 & Above
                              POSB Further Study Assist - Preferred Institutions
                              Processing Fee2.00%
                              Interest Rate4.38%
                              Tenure1-10
                              Max PrincipalS$80,000 or 10x combined monthly income of you and your guarantor
                              Annual Income Requirement of GuarantorS$24,000

                              POSB's education loans are particularly affordable for students attending one of the bank's preferred institutions. Additionally, POSB's student loans charge a lower penalty fees compared to other banks, making it a good option for students might have trouble always making on-time payments.

                              Read Our Full Review

                              Summary of DBS Loan Offerings

                              DBS Bank offers a rank off financing products, many of which stand out as top products in their respective categories. From home loans to car loans, DBS provides financing options that may be of interest. For more information on the top loans available in Singapore please refer to our other guides.

                              Stephen Lee

                              Stephen Lee is a Senior Research Analyst at ValueChampion, specializing in insurance. He holds a Bachelor of Arts degree in International Studies from the University of Washington, and his prior work experience include risk management and underwriting for professional liability and specialty insurance at Victor Insurance. Additionally, Stephen is a former US Peace Corps Volunteer in Myanmar (serving between 2018-2020), where he continues to provide business development consulting services to HR companies in Asia Pacific.

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