Cash Mart Loan Calculator

Cash Mart Loan Calculator

Are you about to grab a long-awaited opportunity? Or do you need help with everyday life events? Are there sudden expenses like car repairs or bills? TESTx1

Cash Mart believes in providing people with financial tools. Also, they help them get a better chance in life.

With our Loan Repayment Calculator, you can determine the full repayment amount. Also, our flexible terms to settle your loan with ease. Simply drag the slider indicator on the loan repayment calculator. Then, select the amount of money you wish to borrow.

Afterwards, use the next slider to select the repayment term. Next, choose which one you wish to have the loan. It can be weekly, bi-weekly, or monthly.

In addition, our loan repayment calculator will then calculate the interest rates and total repayment amount. Also, it will even indicate your possible repayment dates.

Benefits of Loan Calculator in Singapore

Customising Your Loan with Loan Repayment Calculator

Complete Transparency

Interest Rate Calculator

Responsible Lending

Qualities of a Handy Loan Calculator

Compare Loans Easily With Loan Calculators

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We Bring Better Loans For Better Life In Singapore.

All it takes is a few minutes. We’re fast, easy and hassle-free.

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Getting money is now as easy as spending.

Borrow up to $50,000. Apply in 5 minutes.

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Frequently Asked Question

Frequently Asked Question

Have you heard about Cash Mart? Are you curious about the licensed moneylender? Get answers to the frequently asked question.

About the Product

Who can apply for Cash Mart loans?

What is the maximum loan amount I am eligible for?

Do you need a Guarantor to obtain a loan?

Can I still apply even if I have existing loans with other banks or moneylenders?

What is the interest rate for a loan?

What are the fees that money lenders can charge?

Can I apply for another loan after fully paying off my previous loan?

What are the requirements needed to apply for a loan?

Can I apply for a bigger loan amount?

Are Grab drivers eligible for a loan?

Application Process

When and where can I apply for a loan?

Am I qualified for a loan?

Will I be still be granted a loan if my credit rating is poor?

How long is the loan process?

Payment of Loan

Can I Repay Using UOB PayNow?

Are there any other options to make repayments of my loan?

What should I do after approval of my loan?

Will there be any early repayment charge?

Didn’t find what you are looking for?

Drop us a line and we’ll get back to you the soonest

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Quick Loan in 3 Steps

We are committed to providing fast, convenient and affordable loan solutions.

STEP 01

Fill up our simple enquiry form here. We will get in touch with you within 1 working day.

STEP 02

Our loan executives will verify your eligibility and documents. Learn more here

STEP 03

Sign the contract and expect your cash disbursement.

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Foreigner Loan Singapore – Eligibility Requirements

Foreigner Loan Singapore – Eligibility Requirements

Eligibility for a Foreigner Loan

  • Loan applicant must be aged 21 years and above
  • In employment

Documents

  • Valid work permit
  • Valid Passport
  • Proof of Billing ( Any latest bill indicating residential address)
  • Letter of employment
  • Latest 3 month original payslip

Quick Loan in 3 Steps

We are committed to providing fast, convenient and affordable loan solutions.

Step 01

Fill up our simple enquiry form here. We will get in touch with you within 1 working day.

Step 02

Our loan executives will verify your eligibility and documents. Learn more here

Step 03

Sign the contract and expect your cash disbursement.

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Getting Your Loan Approved As A Foreigner

The Best Personal Loan for Foreigners in Singapore

Join Many Other Expats Today

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New Car Loan Singapore – Eligibility Requirements

New Car Loan Singapore – Eligibility Requirements

New Car Loan Singapore – Eligibility Requirements

Eligibility And Documents Needed For A Car Loan

  • Loan applicant must be aged 21 years and above
  • Singapore Citizen or Permanent Resident
  • In employment

For Salaried and Commission-based Employees

  • Identification Card (NRIC)
  • Singpass Login
  • Proof of billing ( Any latest bill indicating residential address)
  • Latest 3-month original payslip (Only applicable if there is no cpf contribution)
  • Letter of employment (Only applicable for new employment)

For Self Employed

  • Identification Card (NRIC)
  • Singpass Login
  • Notice of assessment (NOA indicating trade income)
  • ACRA (Accounting/Corporate Regulatory Authority)
  • Proof of billing ( Any latest bill indicating a residential address

For Taxi Drivers

  • Identification Card (NRIC)
  • Vocational license
  • Taxi pass
  • Min 7 days job summary
  • Proof of billing ( Any latest bill indicating residential address)

Quick Loan in 3 Steps

We are committed to providing fast, convenient, and affordable loan solutions.

Step 01

Fill up our simple inquiry form here. We will get in touch with you within 1 working day.

Step 02

Our loan executives will verify your eligibility and documents. Learn more here

Step 03

Sign the contract and expect your cash disbursement.

step02

Our loan executives will verify your eligibility and documents. Learn more here

How Car Loan in Singapore Can Help You

Driving Your Loan Home

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SME Business Loan Singapore – Eligibility Requirements

SME Business Loan Singapore – Eligibility Requirements

Eligibility

  • Singapore-registered business
  • Min 30% or more shareholdings held by Singaporeans/Singapore PRs
  • Min. 2 years of business operation
  • Min. turnover of S$200,000

Documents

  • Photocopies of Sole Proprietors’ / Partners’ / Principals’ Identity Cards / Passports
  • Company’s bank current account statements for the latest 6 months
  • Company’s financial statement for the latest financial year
  • Sole Proprietors’ / Partners’ Income Tax Notice of Assessment

Quick Loan in 3 Steps

We are committed to providing fast, convenient and affordable loan solutions.

STEP 01

Fill up our simple enquiry form here. We will get in touch with you within 1 working day.

STEP 02

Our loan executives will verify your eligibility and documents. Learn more here

STEP 03

Sign the contract and expect your cash disbursement.

How Startup SME Business Loan in Singapore can Help you

Better Cash Flow For Better Business

Instant Cash Solutions, Exceptional Start Up Business Loan Support

Contact Us Today For More

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List of Licensed Moneylenders & Top Banks in Singapore (2019 Update)

List of Licensed Moneylenders & Top Banks in Singapore (2019 Update)

To save you more time, we’ve gathered the complete list of 157 licensed moneylenders and banks in Singapore verified by the Ministry of Law as of January 1, 2019.

Cash Mart Singapore is among these validly licensed moneylenders and is enumerated at #33.

Our operating hours:

Mondays to Fridays 11 am – 8 pm

Saturdays 11am – 6pm

Closed on Sundays and Public Holidays

APPLY FOR A LOAN

S/No.

Business Name

Business Address

License No.

Website

1

101 CREDIT PTE. LTD.

101, UPPER CROSS STREET, #01-24, PEOPLE’S PARK CENTRE, SINGAPORE 058357

40/2018

http://www.101personalloan.com.sg

2

1133 MONEYLENDERS PTE. LTD.

262, BALESTIER ROAD, #01-02, OKIO, SINGAPORE 329714

95/2018

http://www.1133moneylenders.sg

3

1ST CAPITAL PTE. LTD.

304, ORCHARD ROAD, #04-01, LUCKY PLAZA, SINGAPORE 238863

5/2018

http://www.1stcapital.com.sg

4

1ST CREDIT SG PTE. LTD.

149, ROCHOR ROAD, #01-07, FU LU SHOU COMPLEX, SINGAPORE 188425

90/2018

http://www.moneylenderhub.com

5

1ST LG CREDIT PTE. LTD.

304, ORCHARD ROAD, #02-29, LUCKY PLAZA, SINGAPORE 238863

58/2018

http://www.moneylenderpro.com

6

365 CREDIT SOLUTIONS PTE LTD

14, SCOTTS ROAD, #03-64, FAR EAST PLAZA, SINGAPORE 228213

22/2018

http://www.365credit.com.sg

7

96 CREDIT

883, NORTH BRIDGE ROAD, #01-13, SOUTHBANK, SINGAPORE 198785

144/2018

http://www.cashloansingapore.com.sg

8

A1 CREDIT

2, HAVELOCK ROAD, #02-08, HAVELOCK2, SINGAPORE 059763

117/2018

http://www.a1credit.sg

9

ABI CREDIT PTE LTD

185, TOA PAYOH CENTRAL, #01-320, SINGAPORE 310185

27/2018

http://www.abicredit.sg

10

ABK LEASING

13, NORTH BRIDGE ROAD, #01-3984, SINGAPORE 190013

118/2018

 

How will this list of licensed moneylenders help me as a borrower?

The updated list of licensed moneylenders in Singapore is well-maintained and regularly updated by the Registry of Moneylenders and the Ministry of Law.

MinLaw (Ministry of Law) and the Registry of Moneylenders collaborated to create guidelineregulating all moneylenders and protectingct borrowers from illegal lenders.

Those credit companies who are non-compliant with the Moneylenders Act and other corresponding regulations of MinLaw will not be on the list.

What are the rules in moneylending that I must know?

As of 1 October 2015, all licensed Singapore moneylenders are only allowed to impose the following charges and expenses:

  • An administrative fee that’s no more than 10% of the principal loan amount when the loan is granted. This fee is when a loan gets approved
  • Late fees should not exceed $60/month
  • An Interest rate on late payments caps at 4% for each month of late repayment
  • The total cost of interest rates and fees should not exceed 100% of the principal loan sum.

If borrower A takes a loan for $10,000, then all the charges (interest, administrative fee, and monthly $60 late fee) should not exceed the principal loan amount of $10,000.

Furthermore, Moneylenders are prohibited from practising the following:

  • First, ask for your SingPass login details through SMS, phone call or email.
  • Then, ask you to sign an incomplete loan contract.
  • Grant you a cash loan without exercising a verification process with due diligence. If you can get approved without any documents or requirements, your lender is not operating as law mandates.
  • Retain your personal ID documents such as your NRIC card, passport, driver’s licence, etc.
  • Ask for an upfront fee before your loan is approved and disbursed.

How will I know if the online ad is from licensed moneylenders?

As of 1 November 2011, all licensed moneylenders are permitted to advertise using only these three channels:

  • online or printed business directories;
  • websites owned by the moneylender; and
  • advertisements within or on the exterior of the money lender’s business premises.

Other channels not included on the said lists are prohibited.

Moneylenders with social media ads are either unlicensed moneylenders or legal money lenders violating the Moneylenders Act. So, ignore those Facebook, Instagram or Linkedin, and Google Ads.

Avoid borrowing from these lenders.

If you are looking for a legitimate money lender, you must take your time to shop around, read moneylender reviews, and get the feedback of the people you trust.

Though the government has done their best to regulate the money lending industry strictly, it still pays to be vigilant to avoid loan sharks and illegal money lenders who post as legitimate businesses.

Why Choose Cash Mart Among Other Licensed Moneylenders

With Singaporeans’ changing lifestyle and evolving culture, loans have been a part of their lives for emergency needs and added convenience.

Gone is when personal loans are just for bridging payday to payday or expanding small businesses. Now, loans can also be used for your grand wedding or a perfect vacation getaway.

Banks and licensed moneylenders in Singapore will offer you various loans, whatever your reason for a loan application.

Licensed moneylenders in Singapore offer more flexible loans with a shorter process, taking pride in instant loans for Singaporeans and expats.

With many moneylenders floating around online to offer loans, take the time to choose where to apply for a loan.

Choose a moneylender with a long list of satisfied clients, transparent terms and proficient service. Need instant cash but are confused about which lender can meet your exact needs?

As the leading legal private moneylender in Singapore, Cash Mart is backed by a team of trained staff willing to walk you through the process.

With innovative solutions, you can indeed walk out of its doors within less than an hour with satisfaction and cash in hand.

Get your needed loan now at Cash Mart, drop by or give a call and experience service from the friendly staff: uniquely personal and professional.

Our operating hours:

Mondays to Fridays 11 am – 8 pm

Saturdays 11am – 6pm

Closed on Sundays and Public Holidays

APPLY FOR A LOAN

Top 20 Singapore Banks (2019)

Singapore is known as the banking hub in Southeast Asia. It is an international financial centre under a government practising pro-business policies. Furthermore, our banking industry, regulated by the Monetary Authority of Singapore, manages more than $350 billion of assets.

Our global economy has been shaky, but now the markets are gaining ground and stability. Understandably, both Singaporeans and expats consider various factors when choosing their bank.

Out of Singapore’s 111 commercial banks, 49 merchant banks, and 45 banks with representative offices, we presented our Top 20 Singapore Banks in 2019.

DBS Bank/ POSB

  • Established by the Government in June 1968
  • 100 branches across the city-state
  • Can make fast transfers between currencies
  • Has affiliated branches worldwide
  • There is no minimum balance required and no minimum salary input.
  • Holds a long-term credit rating of Aa1 (High Quality) from Moody’s
  • 2018 Total Assets at USD404.1 billion
  • License Type: SGS Primary Dealer

UOB Singapore

  • Founded in 1935
  • It has 68 branches in Singapore
  • More than 500 offices in 19 countries across Asia-Pacific, North America, and Western Europe
  • Holds a long-term credit rating of Aa1 (High Quality) from Moody’s
  • 2018 Total Assets at USD277.99 billion
  • License Type: SGS Primary Dealer

OCBC Bank

  • Operates through more than 570 branches
  • Second largest financial services group in Southeast Asia
  • With representative offices in 18 countries
  • Formed in 1932
  • With an Aa1 rating from Moody’s
  • License Type: SGS Primary Dealer and Local Bank

Citibank Singapore

  • Began operations in Singapore on 1 July 1902
  • Operates over 2,600 branches across 160 countries
  • Low-cost bank to bank money transfer from Citibank Singapore to another Citibank branch abroad.
  • License Type: Full Bank and SGS Primary Dealer

HSBC Singapore

  • The oldest banks were established in Singapore (December 1877)
  • It has 9 branches with ATMs and over 10 self-service terminals
  • The first bank to remove sales commission in Premier banking
  • License Type: Full Bank

Maybank Singapore

  • Active in Singapore since December 1960
  • It has 27 service locations across the country
  • 2018 Total Assets at USD189.1 billion
  • License Type: SGS Primary Dealer

Standard Chartered Singapore

  • Started operations in the city-state back in 1859
  • Singapore’s largest custodian bank for foreign institutions
  • Has 19 branches, 7 Priority Banking centres
  • License Type: Full bank and SGS Primary Dealer

ANZ Singapore

  • In 1974, it was founded as a representative office of the Australia and New Zealand Banking Group
  • Converted to an offshore bank in 1980
  • Implemented an adult financial education program in collaboration with the Institute of Technical Education
  • License Type: SGS Primary Dealer

SBI Singapore

  • State Bank of India started operations in Singapore in 1977
  • Has a distribution network of 7 retail branches and 24 SBI ATMs
  • License Type: Full Bank

Bangkok Bank Singapore

  • A Thai Bank operating in Singapore focusing on corporate customers
  • Provides full commercial banking services
  • It has 32 branches in 15 economies
  • License Type: Full Bank

CIMB Singapore

  • Operating in Singapore since 1947 through Ban Hin Lee Bank
  • By 2009 CIMB had begun to offer universal banking services
  • Has Islamic banking products
  • It has 3 branches in Singapore
  • License Type: Full Bank

ICICI Bank Singapore

  • The first overseas branch is the Singapore Branch
  • Supports India’s trade with Singapore to address the needs of the global Indian community
  • Presented globally in 19 countries.

RHB Bank Singapore

  • Started operations in Singapore in 1961
  • Located at the wholly-owned 17-storey building at 90 Cecil Street
  • It has a network of seven (7) branches located around the island
  • License Type: Full Bank

Bank of India Singapore

  • Active in Singapore since 4th June 1951
  • Equipped Forex Dealing Room
  • Specialisation in India related business
  • Currently has three branches
  • License Type: Full Bank

Indian Overseas Bank Singapore

  • It started its activities in February 1941
  • It has a branch at Cecil Street and a Remittance Centre at Serangoon
  • Has well equipped Forex Dealing Room
  • Extended working hours on Saturday
  • License Type: Full Bank

J.P. Morgan Singapore

  • Operating in more than 60 countries
  • Has total assets of about USD2.3 trillion
  • The Singapore branch became the hub for J.P. Morgan’s South-East Asian operations.
  • License Type: Full Bank

Hong Leong Finance

  • Founded in 1961
  • A subsidiary of the Hong Leong Group
  • It has a network of 28 branches and 10 SME Centres
  • License Type: Finance Company

BNP Paribas Singapore

  • Begun operations in Singapore in 1968
  • Focuses on Corporate and Institutional Banking
  • Has a presence in 14 markets
  • License Type: Wholesale Bank

Bank of Singapore

  • A subsidiary of the OCBC Bank
  • Specialises in private banking and wealth management
  • 2018 total assets at US$32 billion
  • License Type: Local Bank

Mizuho Bank Singapore

  • It started its branch operation in Singapore in 1974
  • With over 900 offices in major cities such as Tokyo, New York, and London,
  • License Type: Full Bank

For more than 100 years, banks have been known as the go-to places to get premium loans, yet soon Singaporeans have developed an insight that banks only lend to those with sound finances: basically, those who don’t need loans.

Those who have just enough money in their bank accounts get a hard time processing their loans as banks believe it is too risky to lend money to them.

These brick-and-mortar establishments have devised a long list of required documents to assure less risky loan transactions; however, this results in a few days of the process, which beats the need for quick cash.

Banks are also mindful of lending to those with bad credit scores, no credit history, foreigners and no regular income.

Fortunately, you can easily get a loan from online licensed money lenders whenever you need extra cash.

Experience the fastest and most affordable online loans with Cash Mart today.

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Simple Steps to Help Improve Your Personal Finance Management

There will be a lot of people around you and you may even come across blogs that will epitomize the negative aspects of loans. In reality, if you think deeply, you will see that there are several positive sides of personal loan. Taking on credit w…

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Is Debt Consolidation Right for Your Business? 8 Important Things You Should Know

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Here’s What You Can Learn from Western Market About Paying Off Debt & Investing

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Effortlessly Pay Your Cash Mart Loan with PayNow

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Top 5 Money Lies Singaporeans Should Quit Using

Top 5 Money Lies Singaporeans Should Quit Using By 30

I will be lying if I say I never lied. One of the used lines is that money lies we tell ourselves. However, it comes with potential dangers. 

By the age of 30, you probably finished a degree or two, landed a regular job, got a credit card in your wallet, and told a handful of lies. So let’s be honest (at least with ourselves) that we have told lies for whatsoever reason.

Top 5 Money Lies we Tell Ourselves.

Admittedly, these are also potential dangers to your finances if not avoided.

My income is just enough for my needs. I don’t have extra cash to save.

Ever heard of this before? The main reason some of us do not have savings is the thought that our salary is not enough.

Avoid using this lie to yourself and spare the people around you. You can adjust if you have the will to. When there is a will, there is definitely a way.

You might have heard that most financial advisers recommend saving at least 20% of the salary. Well, there is an exemption to the rule. So if your finances just can’t cut through the 20%-savings rule, make it a habit to save a more convenient amount every payday constantly.

Start by saving at least 5% of your salary. Then, you can increase it. Finally, put the money in your savings. In the future, it will surely save you.

I’m too young. Retirement savings can wait.

Yes, retirement can be around 20 to 30 years from now, but it is never too early to save up for it.

The earlier you save, the earlier you can retire and enjoy. You can start planning for your retirement now, then invest in various ways you could to grow your money.

When you invest, time can be your greatest ally.

too young to retire | top 5 money lies

Credit: https://www.cnbc.com/id/41973383

I need this for work.

Signature clothes, expensive shoes, and branded suits may be a need as work essentials. But, as they say, dress for success.

However, is it still rational if you buy this stuff every paycheck? When you go shopping, reasoning that you need to dress well for your work becomes a financial lie.

While your boss might appreciate you coming to the office in presentable attire for your clients, it would be appreciated if you showed up properly dressed and got the job done.

If I fish a bit from my savings now, I can make up for it later.

Now is not the best time to dip your fingers into your savings. But, if it is not a need, you better leave your savings in peace.

There are types of people who would feel lazy saving up once their savings got touched. If you are this type of person, you must avoid thinking that your savings are within easy reach.

It may take some time to discipline yourself financially, but it will be worth it in the long run.

Also, even though you say that you can pay off what you have “borrowed” from your savings, it may take some time. You will never be 100% sure that you can pay it back. Unforeseen things happen.

Consider that there is a chance that you might need the money for a real emergency anytime.

My finances are too simple. There is no need to sit and analyse it.

Now is the best time to analyse your finances. As you get older, have a family with kids and perhaps get a home loan, your finances will complicate.

While it is still simple, you must develop money-saving habits which you can use in the future when financial responsibilities start to pile up.

Take the time to check your transactions, create a budget, and recheck your financial habits.

Since you have simple finances, you might think that your money can figure out itself without any effort. But, unfortunately, too must optimism is dangerous for your finances.

finances are too simple | top 5 money lies

Credit: https://www.becomingminimalist.com/simplify-finances/

Do not Let the Money Lies Fool You.

While these self-rationalizations can give you short time comfort, you’ll soon realise that there is no other way around it but discipline yourself financially.

It sure is hard to have money-saving habits, especially when you are young with a social lifestyle to upkeep. However, it is harder to be in a situation when you’ll need cash. Unfortunately, there is nothing within reach.

You will not get younger by the number, now is the time to make deep gameplay by saving up.

With a legit moneylending company in Singapore, you can avoid the money lies from crowding your financial decisions. Cash Mart lets you take out a personal loan based on your salary and repayment capability. Contact them now to know more details. 

POSB iBanking Guide For First-Timers

POSB iBanking Guide For First Timers

POSB iBanking Guide For First-Timers

POSB iBanking is now called POSB Digibank with more than 150 online banking services all in one place. From opening a new savings account to transferring funds to almost any other bank in Singapore, you can surely handle it smoothly with POSB iBanking.

Upon signing up, you will be able to access the full range of banking services such as eStatements, PayLah! and SMS Banking. It is simple, secure and always available.

What are The POSB iBanking Eligibility Requirements?

You have to be at least 16 years old and currently have a personal or any joint-alternate account of:

  • DBS AutoSave Account
  • DBS Current Account
  • DBS Savings Account
  • DBS Savings Plus Account
  • POSB Savings Account
  • POSB Current Account
  • DBS or POSB Credit Card/Debit Card
  • DBS Cashline
  • DBS Home Loan with Servicing Account

POSB iBanking Registration

You can register for POSB iBanking via four (4) channels:

  • Online at dbs.com.sg/bankonline,
  • Digibank mobile app by selecting on “Get Started”,
  • any DBS/POSB Branches, and
  • by calling the Contact Centre at 1800 111 1111

For online registration, you will need to identify yourself with your Debit/ATM Card Number or Credit Card Number. These series of numbers are found in front of the card.

You will also need to provide your mobile number and email address during registration.

What are The Benefits of POSB iBanking

Effortless Application

You can register using your personal ATM card (DBS Bankcard, ALUMNUS card and POSB ATM cards), debit card, or credit card. Once you have registered, you can start accessing your accounts online.

Quick Bank Access

You can easily access your latest banking information on both your POSB and DBS accounts. You can instantly see your deposit accounts, cards, investments and credits.

POSB Security Features

The smooth online services are ensured by the intuitive navigation toolbars. The built-in security features protect every banking transaction and activity you do with POSB iBanking.

  • In addition, POSB provides 100% security on your funds by covering them under the Money Safe Guarantee. In the event that authorized access and transaction was done in your account, POSB will repay the money taken from your account.
  • You can also set and customise your email and SMS notifications. Every time you perform selected transactions, POSB will send an alert the moment transactions occurred and exceeded the amount you have specified.
  • The iBanking OTP serves as an additional security feature with a One Time Password authorisation. This is why you have to register your mobile number with POSB in order to receive a digibank OTP every time you make a transaction.

Fast

Getting your latest account information is just a breeze. You can even complete your banking transactions online to avoid the hassle and effort of queuing.

Anytime, Anywhere

You can do any banking transactions anywhere you are. You can also access your DBS and POSB monthly statements any time of the day.

Money Saver

POSB offers discounts when you use selected internet banking services.

Accessible

There is no need to worry about compatibility hardware. POSB iBanking is designed to run even with a PC with the minimum configuration.

Free of Charge

The standard commission or transaction fees for some services such as purchasing of cashiers’ order, demand draft or traveller’s cheque still applies but the use of the iBanking services themselves and sign-ups are free.

How to Log In to digibank Online for the First Time

Use your temporary User ID and PIN when logging in for the first time. You must also register your DBS iB Secure Device once you have been prompted.

Step 1: Enter your temporary User ID and PIN

Step 2: Tick the box to accept the Terms and Conditions of Electronic Services

Step 3: Click “Next”

Step 4: Key in your preferred digibank User ID

Step 5: Click “Next”

Step 6: Click “Submit”

What is iBanking OTP?

The iBanking One Time Password (OTP) is a security feature introduced by DBS for DBS and POSB account owners with online banking access. It is important to have your active mobile number registered with DBS or POSB to receive your iBanking OTP via SMS. You can use the iBanking OTP for the following services.

SMS Login

You will receive a 6-digit OTP via SMS. SMS Login with iBanking OTP is a new feature introduced in 2012. It is an alternative second-factor authentication on top of using your iB Secure Device.

Banking transactions

A 6-digit OTP will be sent to your registered mobile number via SMS. This is to authorise and complete the selected banking or online transactions such as updating personal information and contact details.

Bank notifications

SMS alerts will be sent to your registered mobile number once your online transactions have been completed.

You will not receive an iBanking OTP for online transactions if your mobile number is not updated correctly or the merchant website you are transacting on is not supported by the 3D Secure™ technology.

You will need your registered mobile number to add a payee, transfer funds overseas, pay bills, update personal details and update your mailing address.

You will need both your iBanking OTP and your iB Secure Device to authorise personal and contact details update, manage alerts, add new cheque, and demand draft recipient.

How to Change POSB iBanking PIN

You can change your iBanking Pin on the iBanking platform. Simply click “Preferences” on the top right-hand corner to access the “Change iBanking PIN” service. You will be required to key in your iBanking OTP before you can access this service.

Your DBS iBanking PIN and your Credit Card or ATM PIN number are not the same numbers. Changing your iBanking PIN does not change any of your cards’ PIN numbers.

How to Use iB Secure Device

The iB Secure Device keeps your transactions secured and safe from any fraudulent activities. Certain transactions require specific buttons on the device.

On the other hand, to access services such as Transaction History, Bill Payment or Funds Transfer, you will need an iBanking OTP sent to you via SMS. Otherwise, press and hold the button with the DBS logo on iB Secure Device.

How to Replace DBS iB Secure Device

In case that your DBS iB Secure Device has been damaged, you can request for a free replacement in three ways.

Via Video Teller Machine (VTM)

Step 1: Proceed to your nearest VTM and complete the authentication process with your NRIC, passport, or ATM/Credit/Debit card.

Step 2: Select “iB Secure Device”

Step 3: Tap “Yes” and select “Reason for Replacement”

Step 4: Collect your new DBS iB Secure Device

Step 5: Register the new device

Step 6: Scan the barcode

Step 7: Key in the 6-digit iB Secure PIN

Step 8: Press “Confirm”

Via digibank Online

Step 1: Log in to your iBanking account

Step 2: Select “Request” and then “More Requests”

Step 3: Tap “Other Services” and select “iB Secure Device Replacement”

Step 4: Click “Login with SMS” and then choose “Get OTP via SMS”

Step 5: Key in the OTP sent to you via SMS

Step 6: Click “Login”

Step 7: Select “Reason for Replacement”

Step 8: Click “Next”, then “Submit”

Via digibank Mobile

Step 1: Log in to digibank

Step 2: Select “Settings” and then “Request New iB Secure Device”

Step 3: Tap “Request/Replacement Reason”

Step 4: Verify your Mailing Address

Step 5: Select “Reason for Replacement”

Step 6: Click “Submit”

If your request via digibank Online/Mobile, your new DBS iB Secure Device will be sent to your mailing address within 3-5 working days

Final Thoughts on POSB iBanking

POSB iBanking lets you Make a Transfer, Manage Payments, GIRO Arrangements, Top Up, Redeem Rewards, Manage Investments, Apply to New Accounts, and Update Personal Details and Preferences. Each transaction is secured with iBanking OTP.

Managing your banking transactions has become more convenient. However, it is still your responsibility to be financially savvy to manage your overall finances.

And when it comes to convenience, getting a loan is just as smooth if you apply in Cash Mart. Cash Mart provides flexible online loan solutions for every Singaporean whenever you need them.