Maybank Debt Consolidation Plan (DCP)
Consolidate all your unsecured credit facilities (credit card/credit line) outstanding balances across multiple financial institutions with Maybank Debt Consolidation Plan at attractive low interest rates up to 10 years tenor.
How it works:
|Debt Consolidation Loan Account|
|Revolving Credit Facility|
|Consolidate all outstanding balances from multiple banks with Maybank Debt Consolidation Plan to avoid hassle of making payments to multiple banks||Credit Card of up to 1X your monthly income for your daily essential needs that comes with Debt Consolidation Plan|
How to apply:
SMS <DCP> <NRIC> <Name> to 79898
- Have better control over your finances with fixed monthly repayment
- Convenience of consolidating all your outstanding balances and making repayment with only one single bank
- Flexibility to choose a loan tenure of up to 10 years
- Save on high interest charges with lower interest rates
- A credit card with limit of 1X your monthly income
To apply for Maybank Debt Consolidation Plan, you must meet the below requirements:
- Must be Singapore Citizen or Permanent Resident
- Have annual income of at least S$30,000 and less than S$120,000
- Have total interest-bearing outstanding balances on your unsecured credit facilities (Credit Card/ Credit Line) of more than 12 times your monthly income.
Rates and Tenor:
Enjoy interest rate from as low as 4.70% p.a. (EIR 8.48% p.a.) and up to 10 years debt repayment period!
You will need the following documents to apply:
- Completed and signed application form
- Copy of NRIC (front and back)
- Latest copy of your Credit Bureau Report
(Get a copy of your Credit Bureau Report at www.creditbureau.com.sg)
- Proof of Balances reflecting billed and/or unbilled balances and/or new balance transfer/ loan for all your unsecured facilities (Credit Card/ Line of Credit) such as paper/online statements and confirmation letter
- Latest Income Documents
- For Fully Salaried: Latest 12 months' CPF contribution history statement* or latest computerised payslip
- For Commission/Variable Income Earner: Latest 12 months' CPF contribution history statement* or latest 3 months' computerised payslip
- For Self Employed/Fully Commissioned: Latest 2 years' Income Tax Notice of Assessment
Questions? Our FAQ may help.