Struggling with Digibank loans or Bajaj Finserv DBS Credit Cards? We help you negotiate a legal One Time Settlement (OTS) and stop harassment.
DBS Bank India is a subsidiary of DBS Bank Ltd, Singapore. It has expanded aggressively in India, primarily through its digital-only banking platform, Digibank, and its acquisition of Lakshmi Vilas Bank. DBS is known for its seamless digital lending process, offering instant personal loans and co-branded credit cards (notably with Bajaj Finserv).
While the ease of getting a loan is a major draw, the recovery process for defaulters can be swift and stringent. Since many of these loans are unsecured and digitally processed, the bank relies heavily on automated collection systems, third-party recovery agents, and legal notices to recover dues.
If you are facing financial difficulties and have defaulted on your DBS Bank loan or credit card, you are likely experiencing aggressive follow-ups. It is essential to know that you have options. AMA Legal Solutions can intervene on your behalf, stop the harassment, and negotiate a formal settlement that is financially feasible for you.
Digibank loans are often disbursed instantly based on algorithms. However, when a borrower defaults, the digital nature of the relationship can make it hard to find a human to talk to about restructuring or settlement.
When NACH mandates fail, the system automatically triggers bounce charges and penal interest, causing the debt to spiral out of control within months.
Customer care often cannot authorize settlements. You need access to the bank's credit or legal department, which is where we come in.
DBS Bank offers several credit cards, including the popular Bajaj Finserv DBS Bank SuperCard. Defaulting on these cards is dangerous because of the exorbitant interest rates (3.5% to 4% per month, or 42%+ annually).
*Note: Settling a credit card will block that card and may affect your ability to get unsecured credit cards in the near future.
Personal loans are unsecured debts. This means the bank does not have any collateral (like your house or car) to seize. This gives you, the borrower, some leverage during negotiation.
Since there is no asset to sell, the bank is often willing to accept a reduced amount to close the file rather than pursuing expensive legal action.
DBS may initiate arbitration proceedings. We represent you in these proceedings to ensure a fair settlement is reached before any award is passed.
For personal loans that have been NPAs for over a year, settlements can sometimes be achieved at 40-50% of the outstanding value.
Most DBS loan agreements have an arbitration clause. The bank appoints an arbitrator to pass an award for the recovery of dues. This award is legally binding. We help you contest this or use the proceedings to arrive at a settlement.
If you gave post-dated cheques or if your ECS/NACH mandate bounces, DBS can file a criminal case under Section 138 of the NI Act or Section 25 of the PASSA. This requires mandatory court appearance. We can help you get bail and settle the matter out of court.
Banks hire third-party agencies to collect dues. These agents often use intimidation tactics. Legal representation is the most effective way to stop them, as they are legally required to deal with your attorney once appointed.
OTS is a legal mechanism where the bank agrees to accept a reduced lump sum payment to close the loan account permanently.
We analyze your financial gap and present a proposal to DBS Bank's settlement committee. We ensure the settlement amount is realistic for you and that the bank issues a valid "No Dues Certificate" upon payment.
We shield you from aggressive recovery agents and legal threats.
Our negotiation often saves clients 40-60% of the total outstanding debt.
We know the internal policies of banks like DBS and how to navigate them.
We ensure you get proper legal closure documents (NDC) to avoid future issues.
We review your loan details, outstanding amount, and financial hardship proofs.
We formally inform DBS Bank that we represent you. This channels all communication through us.
We submit a structured settlement proposal to the bank, backed by evidence of your inability to pay the full amount.
We negotiate with the bank's credit committee to bring down the settlement amount to the lowest possible figure.
We verify the draft settlement letter from the bank to ensure there are no hidden clauses.
You make the payment, and we ensure the loan account is closed and the NDC is issued.
The RBI has strict codes of conduct for debt recovery. You are protected against:
Violation of these rights is grounds for a complaint to the Banking Ombudsman, which we can handle for you.
Settlement does affect your credit score. Your account will be flagged as "Settled," which indicates a default was resolved by paying less than the full amount.
However, this is a temporary setback. A "Settled" status is far better than "Written Off" or "Suit Filed," which permanently damage your creditworthiness.
Once the loan is closed, you can start rebuilding your score. With disciplined financial behavior, you can reach a healthy score (750+) within 12-24 months.
"I had a huge outstanding on my DBS Bajaj credit card. The interest was killing me, and agents were calling my office. AMA Legal stepped in, stopped the calls, and helped me settle the debt for 45% of the amount. Highly professional."
Marketing Executive, Mumbai
"I lost my job and defaulted on my Digibank personal loan. I was scared of legal action. The team at AMA Legal explained the process clearly, represented me, and closed the loan with a settlement I could afford."
Software Engineer, Bangalore
Answers to your queries about settling loans with DBS Bank.
Don't let debt control your life. Get expert legal help today.
Our loan settlement services are available across all states and union territories in India