DriveShield

Frequently Asked Questions

About DBS 0% interest Installment Payment Plan

1. What is the DBS 0% interest Installment Payment Plan about?

   This installment plan is offered exclusively to you by DBS Bank and subject to terms and conditions of your DBS VISA or MasterCard credit card. It helps you to spread your payment over 12 months with interest-free installment.

2. How to enroll for the DBS 0% interest Installment Payment Plan?

   You may do so in your online application for DriveShield or in-person at MSIG Insurance Customer Centre.

   All you need to do is to charge your DriveShield insurance premium to your DBS VISA or MasterCard credit card. If applying in person, please inform the MSIG Customer Service Officer serving you that you wish to pay by DBS 0% interest Installment Payment Plan.

3. What is the minimum amount to enjoy the DBS 0% interest Installment Payment Plan?

   The minimum amount for each transaction must be above $500.

4. Is there any administration charges to enjoy the DBS 0% interest Installment Payment Plan?

   No, there is no other administration charge.

5. How will I be billed under the DBS 0% interest Installment Payment Plan?

   If you choose to pay by the DBS 0% 0% interest Installment Payment Plan, each installment will be charged to your DBS VISA or MasterCard credit card account on a monthly basis over the selected installment period, which will be shown in your monthly DBS credit card statement of account.

6. What happens if there is premium refund under my policy?

   If there is any premium refund to you (e.g. refund on policy cancellation) after you have signed up for the DBS 0% interest Installment Payment Plan, all such refunds will be payable by MSIG Insurance (Singapore) Pte Ltd to you directly in the form of cheque payment. In the meantime, you will continue to be billed under the DBS's 0% interest Installment Payment Plan Plan until the full outstanding amount is settled.

7. What if I have a total loss claim under my motor policy?

   MSIG Insurance (Singapore) Pte Ltd will settle any valid claims under your Motor Policy with you directly. Hence, you will continue to be billed under the DBS's 0% interest Installment Payment Plan until the full outstanding amount is settled.

8. What happens if I cancel my DBS credit card before I settle the outstanding installment?

   Subject to the terms and conditions of your credit card, you will continue to receive your monthly statements with the remaining installment billed to you until the full outstanding has been settled.