POSB Debt Consolidation Plan

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Consolidate your debt and free yourself from endless monthly bills.

If you are finding it difficult to manage multiple unsecured credit lines, from credit cards to personal loans, then a Debt Consolidation Plan is for you.

POSB Debt Consolidation Plan is one of the best products offered in Singapore. With a low-interest rate of 3.98% p.a. (7.23%p.a EIR)# and a flexible loan tenure of up to 8 years, you can combine your debt into one low monthly repayment. This allows you to minimise your interest paid while controlling the loan tenure to keep your monthly repayment at a reasonable level.

At a glance

Consolidation Loan

The product is open to Singaporean/Permanent Residents, aged between 21 – 65 years old, who have an annual income of S$30,000 to <S$120,000.

How does a Debt Consolidation Plan (DCP) work and is it right for you?

Consolidate loan

As this illustration shows, you can save a significant amount of money by combining your debt into one low-interest rate. What’s more, by spreading the loan over a longer tenure, you free up your disposable income and reduce the burden on your daily spending.

The management of your personal finances is also an important part of a Debt Consolidation Plan, which has been designed to provide you with financial ease. That’s why the monthly fixed repayment is automatically deducted from your chosen DBS/POSB account, ensuring you don’t miss a payment or fall behind on your financial requirements.

So if you are paying high-interest rates, across multiple unsecured credit facilities, then check out the POSB Debt Consolidation Plan and get up to 3% cash back on approved loan amount when you sign up now (T&Cs apply). Promotion ends 30 June 2019.

For more information check out our debt consolidation comparison table or the POSB Debt Consolidation listing.


How to apply


POSB Illustration Calculated based on 25.9%p.a
POSB Illustration Calculated based on 4.58%p.a(AIR), 8.22%(EIR)
AIR – Applied Interest Rates EIR – Effective Interest Rates (inclusive of processing fee)

# Effective Interest Rate (inclusive of processing fee). The interest rate offered to you is based on your personal credit profile and may differ from the published rate and the rate offered to other borrowers.

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