Offering material savings for those with a significant amount of debt.

POSB and DBS are offering the most significant promotional deal for debt consolidation loans. This promotion provides a cashback of 3% of the approved loan amount to borrowers. This can result in material savings, especially for those with a significant amount of debt. While the banks charges S$99 for processing fee, it is rather insignificant for applicants that receive the cashback promotion. Additionally POSB and DBS advertise flat interest rates as low as 3.98% (7.23% EIR). These rates are among the lowest available in our review of debt consolidation plans in Singapore however, they are not guaranteed.

Products mentioned by this review

DBS Debt Consolidation Plan

If you intend to free yourself from endless bills and manage your outstanding loans into one account, the DBS Debt Consolidaiton Loan program might be best fit for you as it offers low interest rate and you get to choose your very own flexible loan tenure which available.

3

1

Providers mentioned by this review

DBS Bank

DBS Bank Ltd, earlier known as The Development Bank of Singapore Limited and "people's bank" respectively, is a multinational banking and financial services corporation. DBS Bank is a technological forward bank that beliefs in continuously reinventing itself to provide simple, fast and contextual banking solutions and experiences. DBS is highly acclaimed for its leadership in digital and has garnered more than 20 global accolades. It was titled "World's best bank" by Euromoney in 2019 and also won Global Bank of the year from The Banker and Best Bank in the world from the Global Finance in 2018. All these victories make it the first bank in the world to hold three of the most prestigious global best bank honors at the same time. DBS operates in 18 markets globally, including six priority markets in Asia, namely Singapore, Hong Kong, China, India, Indonesia, and Taiwan. Hence it is the only Asian bank which operates in the three key axes of growth - Southeast Asia, Greater China

no reviews

5

Please leave your knowledge and opinion!

Recommending Reviews

Hit the minimum target of $600 to maximise your cashback.

Considering that I don't spend very much it is hard for me to meet the minimum spend to maximise my cashback on this card but irrespective, it's currently the best card for me since I'm using the DBS Multiplier account and I get extra interest when I spend on DBS credit cards. It is also quite a useful card to use when you are about to go on holiday to make hotel bookings and payment online. You should look to hit the minimum $600 to maximise your cashback.

DBS Live Fresh Card / DBS Bank

Cool card that is all about rebates and more rebates

This card is perfect for my everyday use, starting from the 15% cash rebates on dining, bus and MRT rides, the 5% cash rebates when I decide to shop at Sheng Siong and 3% cash rebates at Watsons. It is a good card to have overall and actually one of the best cashback credit cards for cash rebates at Sheng Siong, Watsons and SPC petrol kiosks.

POSB Everyday Card / DBS Bank

Every dollar spent earns you points

SAFRA DBS Card ensures that every dollar spent at participating outlets and facilities at SAFRA earns card users 1 SAFRAPOINT in addition to the Credit/Debit cash rebates the also offer. I realise that their rewards programme also offers a wide range of attractive products, services and vouchers from which you are free to choose your redemption item from.

SAFRA DBS Card / DBS Bank

A rewardiing 0.5% rebate on all card spends

Although a 0.5% voucher rebate sounds like it’s not that exciting but when you consider that it is a 0.5% rebate on all card spend, that is all your shopping, dining and other card spend turned into voucher rebates to offset your shopping at Takashimaya Department Store, then it begins to make more sense as a deal. Plus you can redeem S$10 Takashimaya Shopping Voucher with every S$2000 spent outside Takashimaya Department Store per quarter.

DBS Takashimaya VISA Card / DBS Bank

A loyalty programme that gives me equivalent of 2.4%3 in additional fuel savings.

Getting the DBS Esso Card got me an auto-enrolment into the Esso Smiles Driver Rewards programme. This loyalty programme for Esso customers in Singapore gives me equivalent of up to 2.4%3 in additional fuel savings. So I basically earn 1 Smiles Point for every litre of Synergy fuel purchased at any Esso station and benefit from a S$10 instant fuel redemption with as low as 300 Smiles Points earned or up to S$30 instant fuel redemption with 750 Smiles Points earned.

DBS Esso Card / DBS Bank