SALARY BASED LOANS
Available to Individual Account holders who receive their salaries through POSB.
Loan Application Requirements
- Applicant must receive their salary through their Individual Account for at least 3 months.
- Proof of permanent employment i.e an original payslip and a clear photocopy of the same.
- Original Identity Document such as National ID, Passport or Driver’s License and a clear photocopy of the same.
- Current proof of residence.
- Permanently employed guarantor whose salary is sufficient to cover loan repayments.
Benefits
- Low interest rates.
- Long repayment period.
- Direct deduction from salary.
- Higher affordability.
- Shorter turnaround time for processing loan applications.
