DBS Cashline offers a revolving credit facility tailored for individuals who require instant access to funds with manageable costs. Enjoy low daily interest of only 0.07%, calculated on your outstanding balance, so you only pay for what you use. There are no transaction fees, and with a minimum annual income requirement of S$20,000, it is accessible for many Singaporeans and PRs. The approval process is simple, and you can withdraw cash anytime using DBS digibank or at DBS/POSB ATMs.

This loan also comes with enticing promotions, including an immediate S$80 cashback upon approval, plus up to S$260 cashback if you fulfil certain conditions within two months. DBS Cashline allows flexible repayment options—from as little as 1 day onwards, with no early repayment penalties. Annual interest rates are 22.9% for those earning at least S$30,000 and 29.8% for income between S$20,000–S$30,000, and the first year’s annual fee is waived.

How to Apply for DBS Cashline

• Log in to your digibank account
• Go to “More”, select “Apply”, then “Cashline”
• Fill up and submit the application form
• Approval can be instant for most applicants using Myinfo via Singpass

Key Benefits

The primary draw of DBS Cashline is flexibility. Borrow any amount from S$1 with no transaction fees, repay any time, and pay interest only on what you use. The product is ideal for emergencies or sudden expenses, with the peace of mind that you can repay early with no penalties. The ongoing promotional cashback also makes it a good deal for first-time applicants.

Potential Downsides

While the daily interest looks attractive, the effective annual interest can be significant if balances are left unpaid. Applicants with annual income under S$30,000 face a much higher interest rate, so it’s essential to evaluate your budget before committing. Additionally, a minimum payment is required monthly, and missing payments incurs a rate hike of 8% p.a.

Our Verdict

DBS Cashline is a flexible and highly accessible credit facility, perfect for short-term cash needs. Its combination of low daily interest, no transaction fees, and strong cashback offers should suit many in Singapore. Just be mindful of your repayment discipline to avoid extra costs. Overall, it stands out as a trustworthy, competitive option in Singapore’s loan market for those seeking quick, flexible credit.