Apply for POSB Debt Consolidation Plan

Clear your debt easily and save interest expenses by taking up a loan at low rates starting from 3.58% p.a.

Important information

  • Who will be eligible to apply:
    1. Singaporean/Permanent Resident
    2. 21 to 65 years (upon loan maturity date)
    3. Annual income from S$30,000 to < S$120,000
    4. Balance to Income Ratio (BTI) of more than 12 times monthly income
  • POSB Debt Consolidation Plan comes with a DBS Visa Platinum Credit Card to provide you with a convenient mode of payment for managing your daily essentials.
    1. This card comes with a maximum credit limit of 1x your monthly income
    2. No annual fee
  • You will need a DBS/POSB deposit account (excluding Joint All, Trust, MSA, SAYE and POSB current accounts) for the repayment of the loan.
  • You can only sign up for Debt Consolidation Plan with one single Financial Institution.

How to Apply

You will need a DBS / POSB deposit account (excluding Joint All, Trust, MSA, SAYE, FCCA and POSB current accounts) for the repayment of the loan.

If you do not have an existing DBS / POSB account, click here to apply before beginning your Debt Consolidation Plan application.

  Application via digibot
Step 1 Download and fill up the editable Debt Consolidation Plan PDF application form. To have the best experience please complete the form using Adobe Acrobat Reader on your Personal Computer.

Step 2 Check that all required documents are in order.

For New to Debt Consolidation
  • Completed PDF application form
  • Income documents
  • Credit Bureau Report (current or less than 2 months validity)
  • All Bank Statements (statement must clearly show Bank's name, account number and outstanding balances)
For Refinance to DBS Debt Consolidation Plan
  • Completed PDF application form
  • Income documents
  • Credit Bureau Report (current or less than 2 months validity)
  • Early settlement letter
  • Survival credit card statement
For Repayment Terms Revision
  • Completed PDF application form
  • Income documents

Important note:
Please note that maximum 5 files are allowed to be uploaded. Supported file are JPG, PNG, PDF. Maximum of 4MB each . You may refer to the guide here on how to combine your documents.

Step 3 Submit your application online seamlessly and fully assisted by our digibot. You will need to authenticate yourself via:
  • Your digibank User ID and PIN, OR
  • ATM, Debit or Credit Card number and PIN
Please wait a few seconds for the digibot to be activated and it will guide you through your application.
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