What Will Happen to My Personal Loans?
Your current personal loan will be transferred to DBS at the Effective Time. At DBS, we offer a comprehensive range of personal loan products to meet your different needs.
Which Personal Loan Account Will I Get?
You will be provided
DBS Personal Instalment Loan
Your loan balance will be transferred to a new DBS Personal Instalment Loan account. The corresponding terms and conditions, fees and charges applicable to a DBS Personal Instalment Loan account will take effect at the Effective Time.
The total loan amount and number of instalments of your new DBS personal account will be the outstanding loan amount and outstanding number of instalments of the ANZ personal loan account respectively.
The monthly repayment amount and payment due date will remain unchanged. A letter outlining details of your new DBS loan will be sent to you soon after the Transfer.
For correspondence relating to ANZ personal loan account(s) to be transferred to DBS, DBS will use your contact details based on the most updated records held with ANZ. However, if you are currently holding both ANZ and DBS personal loans, the contact information you registered with DBS personal loan will be used for future correspondences related to all your personal loans.
Please ensure your contact details are up-to-date with ANZ, and with DBS if you are an existing DBS customer.
For full details on your DBS Personal Instalment Loan, please read the relevant terms and conditions here.
DBS reserves the right to change the above arrangements, if so you will be notified.
Relationship with staff member(s) or director(s) of DBS (only applicable to borrowing customers):
As a licensed bank, DBS is subject to certain limitations on providing loans to connected persons. If you are or will be a relative/spouse (to the best of your knowledge) of any of the directors or employees of DBS, DBS Bank Ltd. or any of its other subsidiaries on or after the Effective Time, please complete the “Declaration Form for Relationship with Staff Member(s) or Director(s) of the Bank” here and return it to DBS as per the P.O. address on the Form by 25 August 2017. Please notify DBS immediately in writing if any such relationships arise.
For more details of your product, please refer below:
You will be provided
DBS Restructured Instalment Loan
Your loan balance will be moved to a new DBS Restructured Instalment Loan account. The corresponding terms and conditions, fees and charges applicable to a DBS Restructured Instalment Loan account will take effect at the Effective Time.
The total loan amount and number of instalments of your new DBS Restructured Instalment Loan account will be the outstanding loan amount and outstanding number of instalments of the ANZ Restructured Loan account respectively.
The monthly repayment amount and payment due date will remain unchanged. A letter outlining details of your new DBS loan will be sent to you soon after the Transfer.
For correspondence related to ANZ restructured loan account(s) to be transferred to DBS, DBS will use your contact details based on the most updated records held with ANZ. However, if you are currently holding both ANZ and DBS restructured loans, the contact information you registered with your DBS restructured loan will be used for future correspondence relating to all your restructured loans. Please ensure your contact details are up-to-date with ANZ, and with DBS if you are an existing DBS customer.
For full details on your DBS Restructured Instalment Loan, please read the relevant terms and conditions here.
DBS reserves the right to change the above arrangements, if so you will be notified.
Relationship with staff member(s) or director(s) of DBS (only applicable to borrowing customers):
As a licensed bank, DBS is subject to certain limitations on providing loans to connected persons. If you are or will be a relative/spouse (to the best of your knowledge) of any of the directors or employees of DBS, DBS Bank Ltd. or any of its other subsidiaries on or after the Effective Time, please complete the “Declaration Form for Relationship with Staff Member(s) or Director(s) of the Bank” here and return it to DBS as per the P.O. address on the Form by 25 August 2017. Please notify DBS immediately in writing if any such relationships arise.
For more details of your product, please refer below:
ANZ Inter-Bank Debt Relief Plan (“IDRP”) accounts will be transferred to DBS under the same name and there will be no change to the terms and conditions.
The total loan amount and number of instalments of the new DBS IDRP will be the outstanding loan amount and outstanding number of instalments of the existing ANZ IDRP respectively.
The monthly repayment amount and payment due date will remain unchanged.
DBS reserves the right to change the above arrangements, if so you will be notified.
Relationship with staff member(s) or director(s) of DBS (only applicable to borrowing customers):
As a licensed bank, DBS is subject to certain limitations on providing loans to connected persons. If you are or will be a relative/spouse (to the best of your knowledge) of any of the directors or employees of DBS, DBS Bank Ltd. or any of its other subsidiaries on or after the Effective Time, please complete the “Declaration Form for Relationship with Staff Member(s) or Director(s) of the Bank” here and return it to DBS as per the P.O. address on the Form by 25 August 2017. Please notify DBS immediately in writing if any such relationships arise.
For more details of your product, please refer below:
ANZ IVA accounts will be transferred to DBS under the same name and there will be no change to the terms and conditions.
The total loan amount and number of instalments of the new DBS IVA will be the outstanding loan amount and outstanding number of instalments of the existing ANZ IVA respectively.
The monthly repayment amount and payment due date will remain unchanged.
DBS reserves the right to change the above arrangements, if so you will be notified.
Relationship with staff member(s) or director(s) of DBS (only applicable to borrowing customers):
As a licensed bank, DBS is subject to certain limitations on providing loans to connected persons. If you are or will be a relative/spouse (to the best of your knowledge) of any of the directors or employees of DBS, DBS Bank Ltd. or any of its other subsidiaries on or after the Effective Time, please complete the “Declaration Form for Relationship with Staff Member(s) or Director(s) of the Bank” here and return it to DBS as per the P.O. address on the Form by 25 August 2017. Please notify DBS immediately in writing if any such relationships arise.
For more details of your product, please refer below:
Personal Loans FAQ
Personal Loan
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When will my personal loan with ANZ be transferred to DBS?
The transfer of your personal loan will take effect from the Effective Time. Your records with TransUnion will be updated accordingly.
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Will my personal loan account number change?
Yes, a new account will be created for your new DBS personal loan, while your ANZ personal loan account will be closed. A letter outlining details of your new DBS personal loan will be sent to you soon after the Transfer.
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Will my account history be carried forward?
Your account history will not be transferred to the new loan account with DBS.
A new account will be created for your new DBS personal loan, while your ANZ personal loan account will be closed. A letter outlining details of your new DBS personal loan will be sent to you soon after the Transfer.
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How will the Transfer affect my personal loan?
The total loan amount and number of instalments of your new DBS personal account will be the outstanding loan amount and outstanding number of instalments of the ANZ personal loan account respectively. The monthly repayment amount and payment due date will remain unchanged. A letter outlining details of your new DBS personal loan will be sent to you soon after the Transfer.
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Will the terms and conditions, and the relevant fees and charges of my personal loan change?
Yes, the corresponding terms and conditions, fees and charges applicable to a DBS personal loan will take effect at the Effective Time.
Please click here to view the Terms and Conditions.
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Will I need to set up a new Autopay authorisation for repayment if I have already set up one for my ANZ loan? What if I do not have Autopay for repayment with ANZ?
No, please rest assured that Autopay for repayment will be transferred to your new DBS personal loan account and the payment due date for each month will remain unchanged. If you have not set up Autopay for your ANZ personal loan, DBS will contact you soon after the Transfer to arrange the setup for your personal loan repayment.
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When is the first payment for my personal loan with DBS after the Transfer due?
As it takes some time to transfer and set up Autopay authorisation for your new DBS personal loan account, we are pleased to offer you an interest-free payment holiday, allowing you to defer your first repayment. The remaining instalments will be deferred to 1 month later. Kindly note that DBS reserves the right to change or terminate the payment holiday. You will be notified in case of any change to the arrangement.
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What actions should be taken if I decide not to transfer my personal loan to DBS?
If you decide not to transfer your personal loan to DBS, you will need to fully settle your existing loan with ANZ before the Effective Time. If your ANZ loan has an outstanding balance as 8 September 2017, your ANZ personal loan will be transferred to DBS. A letter outlining details of your new DBS personal loan will be sent to you soon after the Transfer.
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What will happen if my account is overdue with ANZ?
If your account status is overdue as of 8 September 2017, DBS will enforce the repayment of the personal loan and interest thereon according to the DBS Personal Instalment Loan terms and conditions.
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What contact information (including mailing address, contact number and email) will DBS use for any correspondence or communication?
Contact information (including mailing address, contact number and email) that you registered with ANZ will be used for correspondence related to your ANZ personal loan being transferred to DBS.
However, if you are currently holding both ANZ and DBS personal loans, the contact information you registered with DBS for your personal loan will be used for future correspondence related to all your personal loans.
Please ensure your contact details are up-to-date with ANZ, and with DBS if you are an existing DBS customer.
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Where can I learn more details about the product terms and features?
For more details about product terms and features, please click here.
Restructured Instalment Loan
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When will my Restructured Loan, ANZ Inter-Bank Debt Relief Plan ("IDRP") accounts or ANZ Individual Voluntary Arrangement ("IVA") account be transferred to DBS?
The transfer of your Restructured Loan, IDRP or IVA account will take effect from the Effective Time. Your record with TransUnion will be updated accordingly.
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Will my Restructured Loan, IDRP or IVA account number change?
Yes, a new account will be created for your new DBS loan, while your ANZ loan account will be closed. A letter outlining details of your new DBS loan will be sent to you soon after the Transfer.
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Will my account history be carried forward?
Your account history will not be transferred to the new loan account with DBS.
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What contact information (including mailing address, contact number and email) will DBS use for any correspondence or communication?
Contact information (including mailing address, contact number and email) that you registered with ANZ will be used for correspondence related to your ANZ restructured loan transferred to DBS.
However, if you are currently holding both ANZ and DBS restructured loans, the contact information you registered with DBS for your restructured loan will be used for future correspondence related to all your restructured loans.
Please ensure your contact details are up-to-date with ANZ, and with DBS if you are an existing DBS customer.
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Will I need to set up a new Autopay authorisation for repayment if I already set one up for my ANZ Restructured Loan? What if I do not have Autopay for repayment with ANZ? When will the first payment for my restructured loan with DBS after the Transfer be due?
No, please rest assured that Autopay for repayment will be transferred to your new DBS Restructured Instalment Loan account and the payment due date for each month will remain unchanged. If you have not set up Autopay for your ANZ Restructured Loan, DBS will contact you soon after the Transfer to arrange the setup for loan repayment.
As it takes some time to transfer and set up Autopay authorisation for your new DBS Restructured Instalment Loan account, we are pleased to offer you a one-month interest-free payment holiday, which will allow you to defer your first repayment. The remaining instalments will be deferred to 1 month later.
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Will the terms and conditions of my Restructured Instalment Loan account change?
Yes, the corresponding terms and conditions, fees and charges applicable to an DBS Restructured Instalment Loan will take effect at the Effective Time. A letter outlining details of your new DBS restructured loan will be sent to you soon after the Transfer.
Please click here to view the terms and conditions.
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Will the terms and conditions of my IDRP account change?
No, the existing ANZ terms and conditions, fees and charges for your IDRP account will remain unchanged.
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Will the terms and conditions of my IVA account change?
No, the existing ANZ terms and conditions, fees and charges for your IVA account will remain unchanged.
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Where can I learn more details about the product terms and features?
For more details about product terms and features, please click here.
DBS reserves the right to change the above arrangements, if so you will be notified.
Reminder: To borrow or not to borrow? Borrow only if you can repay!