Personal Loans Singapore The Plan and the Benefits

If you are amongst those who has a dream and wants to fulfill it at the earliest, and also if you are a permanent or temporary resident of Singapore, then you do have a very good chance of getting what you wish for with the help of personal loans Singapore. The personal loans Singapore are available in various national and international financial institutions. In order to be eligible for personal loans Singapore, you need to qualify on some basic agendas like age, income and credibility. Also, there are many types of personal loans Singapore at your disposal. In order to apply for personal loans Singapore, you need to be aware of all the possible options that would be feasible for you and then choose the best one amongst them.

Out of the various personal loans Singapore plans available, one of the best ones is DBS Cashline and Loans. When it comes to personal loans Singapore many people vouch for the beneficial and economical approach taken by the Development Bank of Singapore. Also, when we talk about the interest rates of personal loans Singapore, the DBS Cashline and Loans offer one of the most competitive prices.

Features and Benefits of the DBS Cashline Plan

The DBS Cashline is a type of personal loan provided by the Development Bank of Singapore. It is known for its fast and efficient processing of all the loan applications. It also gives you the benefit of getting fast access to cash so that you are not disappointed as a client. You can apply for the DBS Cashline only if you have a monthly income of minimum $1,700. (Amounts quoted here are in Singaporean dollars)

There are various lucrative benefits of the DBS Cashline. A few of them are listed herewith.

Credit Limit: DBS Cashline can offer you a credit limit of up to four times your monthly income which can reach a maximum level of up to $200,000. It is a comparatively better credit limit as opposed to the ones given by other banks, which in most cases go up to $150,000. So if you are in need of a high credit limit, you should give the DBS Cashline a serious thought.

Waiver: DBS Cashline also provides out-of-the box benefits like a 2 year annual fee waiver. Most banks charge you an annual fee every year for processing and maintaining your loan tenure. However, with the DBS Cashline fee waiver, you can save a lot in terms of charges which are otherwise mandatory.

Interest Rate: The DBS Cashline Plan also offers an attractive interest rate of as low as 1.48% per month. This option is beneficial for people who wish to maintain a timely payment record so as not to upset their credibility in the credit market.

Pay for what you use: This is probably the best feature of the DBS Cashline Plan. You only need to pay an interest on the amount that you have used. For instance, if you take a loan of $10,000 and use only $5,000 out of the entire sum, you will be charged an interest on $5,000 and not on $10,000. If you accumulate all the interest which was not charged, it turns out to be a huge saving for you.

Flexible Repayment and Easy Access to Cash: The DBS Cashline Plan has various flexible repayment options tailor-made to suit your preference and repayment ability. Also, this plan gives you easy and instant access to cash through ATMs, iBanking and complementary chequebooks.

Ways to apply for DBS Cashline

There are many ways by which you can apply for a DBS Cashline Plan. If you want to go for the quickest option, it is recommended that you visit a DBS branch. You need to carry the documents which can be used to establish and verify your identity along with some other mandatory documents. Once you apply in a branch, you can expect the application to be processed and a decision taken and passed on to you the very same day. So if you have certain plans pertaining to the loan amount, it would be very beneficial for you to be aware of the decision at the earliest so that you do not waste your precious time and resources waiting, in case of the unfortunate incident of your loan not getting approved.

The bank has the sole authority to take the decision on all the applications. And they also have the authority of deciding the credit limit and other factors pertaining to the loan.