- be a Singapore Citizen or Permanent Resident;
- earn between S$30,000 and below S$120,000 per annum
- have an existing Debt Consolidation Plan granted by another financial institution
- be aged 21 – 65 years old
Debt Consolidation Plan Refinancing Benefits
from
3.48% p.a.
Enjoy competitive loan interest rates (EIR from 6.26% p.a.)*
save up to
S$14K
On refinanced debt interest charges
receive
6%
Cashback on Debt Consolidation Loan approved amount
Relevant terms and conditions apply. Receive a Platinum Mastercard Credit Card with annual fee perpetually waived.
Features
Save on Interest Payments
Refinance with Standard Chartered Debt Consolidation Plan (DCP) to save on interest payments with lower interest rate and tenures from 3 to 10 years
Credit Card
Receive a Platinum Mastercard® Credit Card with a credit limit2 equivalent to your monthly salary for your daily use (Credit limit is shared across all existing credit card).
Annual Fee Waiver
Annual Fee perpetually waived for your Platinum Mastercard® Credit Card.
Here’s an illustration1 of how DCP Refinancing works
(Assuming your existing DCP has an outstanding balance of S$60,000)
STANDARD CHARTERED DEBT CONSOLIDATION PLAN REFINANCING
| EXISTING DEBT CONSOLIDATION PLAN GRANTED BY ANOTHER FINANCIAL INSTITUTION
| |
|---|---|---|
| Monthly Instalment | S$891 | S$1,059 |
| Tenure | 7 Years | 7 Years |
| Interest Rate | 3.48% p.a. (EIR**6.53% p.a.) | 6.88% p.a. (EIR* 12.08% p.a.) |
| Total Payable (without drawing new amounts) | S$74,914 | S$88,881 |
| Interest Savings (with Debt Consolidation Plan Refinancing) | S$14,379 | |
Wish to speak to us for more information?
SMS LOAN< space >DCPINFO< space >NAME to 77272 for us to call you back.
1 The illustration is based on the assumption that: (a) the total outstanding balance of S$60,000 is subject to interest rates of 6.88% p.a. (EIR* from 12.08% p.a.) (b) no new amounts are drawn down; and (c) the total outstanding balance of S$60,000 is transferred to Standard Chartered Debt Consolidation Plan of a 7-year tenure and interest rate of 3.48% p.a. (EIR 6.51% p.a. - calculated taking into consideration the S$199 joining fee, assuming all instalment payments are paid by their respective due dates during the loan tenure). The interest rate offered to you is based on your personal credit profile as determined by us, and may differ from the published interest rate and the interest rate offered to other borrowers.
**For illustration, EIR is calculated taking into consideration of S$199 joining fee and based on average loan amount of S$60,000 and all instalment payments are paid by their respective due dates during the 7-year loan tenure.
2The credit limit for the Platinum Mastercard Credit Card issued with Standard Chartered Debt Consolidation Plan is equivalent to your monthly salary as per the bank’s assessment with your latest income document.
Our Customer Terms, Current/Cheque/Savings Account and Time Deposit Terms, Personal Loan/Personal Line of Credit/Overdraft Terms, Credit Card Terms, Credit Card Tariff Sheet and Terms and Conditions Governing Debt Consolidation Facility apply.
- Singaporean Citizens & PR
Application Eligibility
Annual income: Between S$30,000 and below S$120,000
Existing Debt Consolidation Plan granted by another financial institution
Age: 21 – 65 years
Application Documents
Copy of NRIC (front and back)
Latest bank statements of your outstanding unsecured credit facilities from your existing DCP financial institution
Settlement notice from your existing DCP financial institution
Copy of latest income documentations
For Salaried Employees and Partial Commission-Based Earners
(i) Latest computerised payslip OR
(ii) Latest 6 months’ CPF contribution history statement
To be considered for a higher loan amount, please submit your latest Income Tax Notice of Assessment in addition to the above.
For 100% Commission-Based Earners
(i) Latest Income Tax Notice of Assessment OR
(ii) Latest 3 months’ commission statement from a single employer
For the Self-Employed
Latest Income Tax Notice of Assessment
Joining fee One time
| $199 | Early redemption fee or 5% of the outstanding principal, whichever is higher. | $250 |
Default interest (Effective Interest Rate – “EIR”) – minimum If payment is not received in full by the due date, finance charges will be calculated on a daily basis at 0.074% from the respective transaction dates for all transactions to the date the payment is received. | 26.9% p.a. | Late Payment Charges If we do not receive the minimum payment as per indicated on your statements by the due date, a late payment charge of $100 will be charged to your Debt Consolidation Plan facility and/or Platinum Mastercard® Credit Card respectively. | S$100 |
Annual fee (perpetually waived) For Standard Chartered Platinum Mastercard® Credit Card | $192.60 (including GST) | ||
For more details on all other applicable fees and charges, please click here. | |||
The Debt Consolidation Plan Refinancing Cashback Promotion is available from 1 January 2026 to 31 December 2026. Click here for full terms and conditions.
Our decision in all matters arising out of or in connection with this Promotion is final and conclusive and no correspondence will be entertained. Our Customer Terms, Personal Loan/Personal Line of Credit/Overdraft Terms and CashOne Product Terms apply. All information is correct at the time of publishing. Click here for full Terms and Conditions.
FAQs
To refinance your existing DCP with SCB, click here
If you wish to speak to us for more information, you can SMS LOAN <space> DCPINFO <space> YOUR NAME to 77272 for us to call you.
To be eligible for DCP refinancing, you must:
We offer competitive interest rates with loan tenure from 3 – 10 years. The interest rate that we offer you is based on your personal credit profile as determined by us, and may differ from the published interest rate and the interest rate offered to other borrowers.
If you decide to pay off your loan early, there will be an early redemption fee of S$250 or 5% of your outstanding principal, whichever is higher.
For example, you borrowed S$60,000 and after a few years, you are left with an outstanding balance of S$10,000 before your loan tenure is up, you will have to pay an additional S$500, as the 5% fee is greater.
