Latest Stories On Cash Mart

Latest Stories On Cash Mart

Where to Get the Best Instant Cash Loan in Singapore?

With the need for fast cash loans getting more common, we are becoming more open to the ever-evolving lending industry.

The tightening competition in Singapore compels each unsecured loan provider to hustle and create innovative products an…

10 Best Steamboat in Singapore Near You (2019)

We sift through dozens of steamboat restaurants on a quest for the best spots to take your family and friends. For our foreign friends who just got here in Singapore, a steamboat refers to a boat powered by steam. So they get bewildered with the t…

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Since different individuals have different sleep preferences what works well for you may not work for someone else. Customer reviews online can help you know more about the new mattress you have been eyeing. It is no secret that looking for the be…

Getting money is now as easy as spending.

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

Tell Me More

5 Ultimate Reasons to Start Building Your Emergency Funds

Most individuals face one or more challenges due to unexpected expenses. Though you do not want to spend more money than what is necessary, certain situations can force you otherwise. Whether you are employed or a business owner, it is significant…

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Are you trying to compare rates and service to find out who’s the right licensed moneylender for you? As you may probably know, licensed moneylender reviews in Singapore are handy for first-time loan borrowers and even for those who are look…

15 Smart Ways to Save More Money When Shopping for Groceries

Groceries are part and parcel of life. You cannot eat your hard earned money, but shopping for groceries can leave you feeling high and dry as it can burn a hole right through your wallet or savings. You have come to the right place if you want to…

How to Improve Your Success Rate in Getting a Business Loan?

There are so many reasons a startup or a small business might need funding. Convincing banks to give small business loans can be challenging. The chances of your success depend directly on your preparedness. The idea of getting a business loan can…

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

With total household reaching a record $13 trillion according to Forbes.com and the average American carrying 26% of his annual income as debt, almost everyone in America is worried over the perennial puzzle of whether to pay off debt first or to …

Effortlessly Pay Your Cash Mart Loan with PayNow

True to its promise, Cash Mart has always been on the lookout for innovations to make its loan process and service more convenient. The new PayNow Corporate e-payment service is now available to Cash Mart’s customers. This is to give more efficien…

Free Beginners Guide to Borrowing from a Credit Company in Singapore

Throughout the years, credit companies have been helping Singaporeans get by. Whether you are employed or an entrepreneur seeking to widen your company’s reach, a loan is a handy tool to help you thrive or bridge a financial gap. However, getting …

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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.

Latest News

Read the latest news about financial products in Singapore and the best money saving tips. See all news.

Where to Get the Best Instant Cash Loan in Singapore?

With the need for fast cash loans getting more common, we are becoming more open to the ever-evol…

Read More

10 Best Steamboat in Singapore Near You (2019)

We sift through dozens of steamboat restaurants on a quest for the best spots to take your family…

Read More

5 Best Marketing Strategies for Your Investment Firm

Have you ever checked the efficiency and outcome of your investment management firm’s marketing s…

Read More

10 Must-See Natural Wonders in the USA

Psychologists all over the world recommend nature travel as it helps in reducing stress and keeps…

Read More

How Do Reviews Help You to Find the Best Mattress

Since different individuals have different sleep preferences what works well for you may not work…

Read More

5 Ultimate Reasons to Start Building Your Emergency Funds

Most individuals face one or more challenges due to unexpected expenses. Though you do not want t…

Read More

Moneylender Review: How to Find Low Interest Lender in Singapore (2019)

Are you trying to compare rates and service to find out who’s the right licensed moneylende…

Read More

15 Smart Ways to Save More Money When Shopping for Groceries

Groceries are part and parcel of life. You cannot eat your hard earned money, but shopping for gr…

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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.

How Foreigner Loan in Singapore can help you

Getting Your Loan Approved As A Foreigner

The Best Personal Loan for Foreigners in Singapore

Join Many Other Expats Today

Latest News in Foreigner Loan

Read the latest news about financial products in Singapore and the best money saving tips. See all news.

Where to Get the Best Instant Cash Loan in Singapore?

With the need for fast cash loans getting more common, we are becoming more open to the ever-evol…

read more

Should you be Enticed with Standard Chartered Personal Loan Promo?

Shopping for the best personal loan can lead you to bank loans, but are these the best loans for …

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Guide to Personal Loan for Foreigners in Singapore

Singapore landed on the 6th place of HSBC’s list of best countries for expats. The survey highly …

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OCBC Home Loans: Valuable Facts You Must Not Ignore

(Updated 31 January 2017) Getting a home will be one of the major decisions you will make in your…

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Expat’s Best Guide to Financially Survive in Singapore

Over the years the expatriate population in Singapore has been blooming. There can be a lot of ch…

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Calculate Your Monthly Loan from Money Lender in 1 Minute Without Thinking

There are various reasons why Singaporeans apply for a loan. Even those with regular good paying …

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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 t…

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Comprehensive Survival Guide for Foreigners in Singapore

As of April 2016, CNN named Singapore as the best city for expats in Asia. It is no secret that …

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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

Latest News in SME Business Loan

Read the latest news about financial products in Singapore and the best money saving tips. See all news.

How to Improve Your Success Rate in Getting a Business Loan?

There are so many reasons a startup or a small business might need funding. Convincing banks to g…

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Citibank Business Loan Limitations You May Not Know

Need to propel your business but lack funds? This is a very common concern for the most entrepren…

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3 Non-Bank Alternatives to Standard Chartered Business Loan in Singapore

Need assistance for your business’ cash flow? Having your own business is not simple. It needs a …

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Need a Small Business Loan? Here are 10 Things to Consider!

Cash is King! No business will move forward without a working capital, especially for its first t…

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Facts Every SME Owner Needs to Know on OCBC Business Loans

Any business can’t start and expand without enough cash, this is why business loans and financing…

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10 Reasons Why You Need Business Loan in 2019 (Infographic)

Some additional liquidity can be a benefit to any company. No matter your business’ financial hea…

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Where to Get the Best Instant Cash Loan in Singapore?

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

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Latest Articles in Family

Latest Articles in Family

Moneylender Review: How to Find Low Interest Lender in Singapore (2019)

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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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5 New Online Scams You Have to Watch Out For

We are at the digital age. Most services and products are now offered online for our convenience. Fraudsters are also going high tech. They never lose ideas on how they can get your hard earned money. Protect yourself from scammer by knowing these…

5 Activities to Teach Your Kids about Money

How can you impart good money habits to your children? Keep on reading to discover ways how you can teach your kids about money.

3Gen Flats: Singapore’s Housing Schemes for Multi-Generation Families

Have a family but do not want to live away from your parents? No worries, HBD has created housing schemes for this purpose. 3Gen flats are designed to meet the needs of multi-generation families. You can take care of your parents’ needs or they ca…

10 Clever Hacks to Make Your Home Look Bigger

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10 Money Saving Secrets for Newly Married Couples

Is it your first Valentine’s Day as Husband and Wife? After all the glamour of your wedding, it is time to get serious in stuff you may not want to face- money matters. A married life is not always romantic, put in the ‘money issues’ and you’ll se…

Latest Articles in Lifestyle

Latest Articles in Lifestyle

Where to Get the Best Instant Cash Loan in Singapore?

With the need for fast cash loans getting more common, we are becoming more open to the ever-evolving lending industry.

The tightening competition in Singapore compels each unsecured loan provider to hustle and create innovative products an…

10 Best Steamboat in Singapore Near You (2019)

We sift through dozens of steamboat restaurants on a quest for the best spots to take your family and friends. For our foreign friends who just got here in Singapore, a steamboat refers to a boat powered by steam. So they get bewildered with the t…

How Do Reviews Help You to Find the Best Mattress

Since different individuals have different sleep preferences what works well for you may not work for someone else. Customer reviews online can help you know more about the new mattress you have been eyeing. It is no secret that looking for the be…

5 Ultimate Reasons to Start Building Your Emergency Funds

Most individuals face one or more challenges due to unexpected expenses. Though you do not want to spend more money than what is necessary, certain situations can force you otherwise. Whether you are employed or a business owner, it is significant…

15 Smart Ways to Save More Money When Shopping for Groceries

Groceries are part and parcel of life. You cannot eat your hard earned money, but shopping for groceries can leave you feeling high and dry as it can burn a hole right through your wallet or savings. You have come to the right place if you want to…

Getting money is now as easy as spending.

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

Tell Me More

 

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 iBan…

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Where to Get the Best Instant Cash Loan in Singapore?

With the need for fast cash loans getting more common, we are becoming more open to the ever-evolving lending industry.

The tightening competition in Singapore compels each unsecured loan provider to hustle and create innovative products an…

5 Ultimate Reasons to Start Building Your Emergency Funds

Most individuals face one or more challenges due to unexpected expenses. Though you do not want to spend more money than what is necessary, certain situations can force you otherwise. Whether you are employed or a business owner, it is significant…

Moneylender Review: How to Find Low Interest Lender in Singapore (2019)

Are you trying to compare rates and service to find out who’s the right licensed moneylender for you? As you may probably know, licensed moneylender reviews in Singapore are handy for first-time loan borrowers and even for those who are look…

15 Smart Ways to Save More Money When Shopping for Groceries

Groceries are part and parcel of life. You cannot eat your hard earned money, but shopping for groceries can leave you feeling high and dry as it can burn a hole right through your wallet or savings. You have come to the right place if you want to…

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…

Getting money is now as easy as spending.

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

Tell Me More

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

With total household reaching a record $13 trillion according to Forbes.com and the average American carrying 26% of his annual income as debt, almost everyone in America is worried over the perennial puzzle of whether to pay off debt first or to …

Effortlessly Pay Your Cash Mart Loan with PayNow

True to its promise, Cash Mart has always been on the lookout for innovations to make its loan process and service more convenient. The new PayNow Corporate e-payment service is now available to Cash Mart’s customers. This is to give more efficien…

10 Reasons You Need a Financial Plan

Having a financial plan is the first step to achieving financial freedom. Other than determining your short-term and long-term financial goals, it also helps you plan how you can achieve those goals.

Top 4 Finance Trackers That Can Ease Your Money Problems

Most people can’t last the day without checking their smartphones. After all, checking emails, text messages, and chats is a part of our daily routine. Smartphones are too smart they let us shop and pay bills while on the go. But have you discover…

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Got your retirement planned out? Over the years, Singaporeans have changed their perspective on retirements. Years ago, people think that retirement is stopping work and then relaxing with time at their own disposal. Now, millennials think that re…

10 Reasons You Need a Financial Plan

10 Reasons You Need a Financial Plan

According to the 2016 MasterCard Index of Financial Literacy, Singapore tops the list of countries with high financial literacy in the Asia Pacific. Meaning Singaporeans are knowledgeable in basic money management, creating a financial plan, and investment matters.

Among these three core areas of financial literacy, you need to stabilise a financial plan. It allows you to build a framework for managing your finances. That way, you can tie together your short-term and long-term financial goals.

What is Financial Plan?

MoneySense defines financial planning as “taking charge and managing your finances to ensure your financial well-being.”

This includes monitoring your cash flow and spending habits, finding ways to settle your debt, building a budget plan, and more. Because it’s multi-faceted, you need a plan to tie all of this together.

Depending on your needs and goals, you can choose to build your own financial plan or ask for the help of a financial planner.

Regardless, here are ten reasons you need to plan your way to financial independence:

financial plan in Singapore

Credit: https://online.arbor.edu/news/what-does-a-financial-consultant-do

1. It Helps You Understand Your Financial Situation

When creating a financial plan, you need to know how much money you have, how much money you owe, and how much more money you need. It is not meant to make you feel devastated. Understanding your financial situation allows you to set realistic short-term and long-term financial goals.

2. It Helps You Understand Your Cash Flow

Your cash flow will be the foundation of your financial plans. It will determine whether you can start building the necessary funds to reach your goals or if it’s something you should work on. Thus, it’s important to consider your net salary and expenses when making a financial plan.

3. It Helps You Manage Your Income

Because you have realistic financial goals and you have a good understanding of your cash flow, it’ll be easier for you to manage your income. After all, you don’t really receive it in full. Following the tax and other salary deductions, a financial plan is a great reminder of how you should allocate your money.

4. It Helps You Find Ways to Build Capital

Financial planning allows you to manage your income. Meaning, it’ll be easier for you to allocate your money. And when you can allocate your money, it means you can stash a certain amount for your savings. Thus, you can slowly build your funds meant for investment.

5. It Helps You Find Ways to Make Your Money Grow

Financial planning allows you to give room for savings. What should you do with all the money you were able to save? There’s nothing wrong with spending some to reward yourself. However, it’s advisable that you use it as capital for investment. That way, you can see your money grow through time while you’re busy living your life.

6. It Helps You Build an Emergency Fund

Financial planning allows you to replicate successful processes you were able to build. If you could save enough money as investment capital, you can simply repeat the process to build your emergency funds. Why do you need an emergency fund? So you and your loved one can still survive in case of emergencies.

7. It Helps You Protect Your Loved Ones

Protecting your loved ones is part of financial planning. Other than building an emergency fund, now is also a great time for you to review the outcome of your financial plans. If all goes well, consider getting life insurance and health insurance.

8. It Helps You Understand Your Assets and Liabilities

Acquiring assets is desirable to have something you can liquidate in times of need. However, a lot of assets come with liabilities. Creating a financial plan helps you build assets that won’t become a burden in the future. After all, your net worth is a snapshot of your finances.

9. It Helps You Elevate Your Standard of Living

The wealth you were able to build because of careful financial planning could come in handy in times of need. When you have enough funds for various financial vehicles, it is easy to guarantee that your family is protected. In case you can no longer work and you’re the breadwinner of the family, they can still survive because you are insured.

10. It Helps You Achieve Better Financial Understanding

When you don’t know how to handle your finances, it can negatively impact almost every area of your life. The stress could then cloud your judgment. Well-planned and well-managed finances allow you to live a life free of worries.

Take the First Step to Financial Independence

Financial independence starts with identifying your short-term and long-term goals in life. Also, it hurdles you might face in the future.

With a financial plan, you become more confident with your decisions. That’s because you know you made the right choice on where to place your money. As a result, it reduces your stress and allows you to enjoy life more.

Financial planning is all about controlling your finance instead of the other way around.

Have you started creating a financial plan? Did you do it on your own, or did you seek professional help? 

Cash Mart is a legit money lending company in Singapore. It assists you in creating a financial plan with your short-term personal loan. Find out more about what it can offer. 

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.

Free Beginners Guide to Borrowing from a Credit Company in Singapore

Free Beginners Guide to Borrowing from a Credit Company in Singapore

A credit company in Singapore has been helping Singaporeans get by throughout the years. Whether you are employed or an entrepreneur is seeking to widen your company’s reach, a loan is a handy tool. It helps you thrive or bridge a financial gap. However, getting a loan from a credit company in Singapore is not something you can take lightly.

Not because you can find many credit companies around the city-state does not mean that you can just choose one and borrow cash from any of them without proper research.

The Singaporean government has been concerned by the growing number of Singaporeans taking too many loans than they can handle.

The lack of foresight when borrowing cash can be your financial downfall. However, borrowing money is a helpful tool for an intelligent borrower. And being a responsible borrower does not start with repaying your loan on time to your credit company. It actually begins with choosing which credit company in Singapore to trust.

10 Questions to Ask a Credit Company in Singapore

1. Are you a licensed lender?

In short, a credit company thriving in the lending industry for a long time means there is already a reputable background that you can count to. To verify if a money lender is legally operating, you must check the list of licensed money lenders provided by MinLaw.

Ministry of Law | Free Beginners Guide to Borrowing from a Credit Company in Singapore

2. How much can I borrow?

If you exceed your loan cap, you will no longer be eligible to get an unsecured loan from any credit company in Singapore. While it is tempting to borrow more, a responsible money lender will likely decline a borrower who cannot repay the loan on time.

With the help of the Moneylenders Credit Bureau (MLCB), a credit company will know how much you can still borrow. It prevents you from getting too many loans that you can handle. After all, a credit company just wants to lend and get repaid on time to keep their business running.

3. What is the interest rate?

The late interest is charged only on the unpaid loan amount and not on the principal loan amount or the amount that is not yet due to be repaid.

4. What are the terms and conditions?

MinLaw requires every credit company to be clear and transparent with its terms and conditions. For example, get a loan only if the credit company could discuss and explain the crucial details in your loan contract.

Furthermore, make sure you fully understand every term in your contract, especially the interest rate, fees and repayment schedule. Bear in mind that the contract is legal and binding. It is the borrowers’ finances to hold their side of the contract.

5. Do you have flexible loan packages?

A reputable credit company will be willing to help you choose the most flexible option to help you repay your loan with ease.

6. How fast is the loan process?

The earlier you can complete your required documents, the faster you will process your loan application. For example, if you apply to Cash Mart, you can get your cash in as short as an hour to a day.

7. Is the loan advertisement real?

Did you receive or see any advertisements like SMS, emails, flyers or any forms of prohibited advertisements? It can be any of these two. First, they are from a licensed moneylender not following the strict rules and regulations. Or second, it is an unlicensed moneylender trying to fish for unsuspecting victims.

Do not respond to any illegal advertisement. Instead, report it to the Police or the Registry of Moneylenders.

8. What is the eligibility requirement?

Some credit companies only have loans for Singaporeans and Permanent Residents. Others give a loan to foreigners who have proper working documentation. Others offer loans to low-income earners, while others do not. Shop around to know which credit company can serve your needs.

9. Do you have friendly support?

In addition, many borrowers also appreciate it if the loan officer considers their personal preferences and needs. In addition, Cash Mart’s loan advisers and friendly and attentive. If you want to get advice on your loan-related matters, you can feel free to send a message on WhatsApp, call, or visit them.

Furthermore, a reputable credit company even helps customers who want to learn more about financial literacy.

10. What are the other fees that a credit company in Singapore can charge?

Take note that MinLaw permits money lenders to deduct a loan approval fee of up to 10% from the principal amount. However, they can’t ask borrowers to pay an upfront fee prior to the loan process approval or disbursement.

What to Do After Your Loan Is Granted?

As a responsible borrower, you must first check if the right loan amount has been disbursed. Then, get your own copy of the loan contract and meet the repayment schedule. Every time you make a repayment, be sure to keep the receipt safe. It will be proper documentation that you paid the right amount on time.

Being a smart borrower gives you the chance to build a positive relationship with the credit company. Also, you can build a healthy credit score that you can use to have better loan offers.

Signs That You Are Dealing With a Loan Shark

No licensed credit company in Singapore should use abusive language or behave threateningly. In addition, they must not ask for your SingPass user ID and/or password over the phone, email, SMS or through the online application. Add to that. They should not retain any of your personal ID documents.

Additionally, ensure that you do not sign an incomplete contract. A loan contract must have complete terms and conditions. Also, it must indicate your loan amount, repayment scheme and dates, and other fees. They must properly discuss the loan contract. It helps you understand what you are signing into.

No fair practising credit company will approve a loan without any due diligence. Therefore, even before you can completely file your application, approving your loan is an absolute red flag.

Should you encounter an Ah Long or a licensed money lender with unfair practices, you must report it to the Registry at 1800-2255-529. Rest assured that they will not disclose your personal details.