DBS Bank Ltd is an international banking and financial services corporation headquartered in Marina Bay, Singapore. The corporation was known as The Development Bank of Singapore Limited, before the current name was taken up in July 2003 to mirror its evolving role as a regional bank.
The bank was put together by the Government of Singapore in July 1968 to take control of the industrial financing activities from the Economic Development Board. Today, its branches numbering over 100 can be found island-wide. DBS Bank is the largest bank in South East Asia by assets and among the larger banks in Asia, with total assets of S$ 482 billion as at 31 Dec 2016. It has market-dominant positions in consumer banking, treasury and markets, asset management, securities brokerage, equity and debt fund-raising in Singapore and Hong Kong.
Idea Regarding Getting Personal Loans In Singapore
Never ever take individual loans 2 to 3 months before another significant loan. To puts it simply, no individual loans if you’re intending to buy a vehicle, home, and so on.
If you are taking a loan from the bank for a house or cars and truck, it is necessary to note your Debt Servicing Ratio which is a procedure of the portion of your routine income towards the payment of your car or home loan.
To puts it simply, a Debt Servicing Ratio of 50% suggests that all your debt obligation can not go beyond 50% of your income. As a guide, many banks permit 40% Debt Servicing Ratio for a home and 30% for a car loan
Particular Loans Are Cheaper – Take out a particular loan where you take a renovation loan for your renovation needs and a vehicle loan for your cars and truck. It is not smart to secure a individual loan for your car or renovation requirements. When it pertains to banks, specific loans’ interest rates are lower.
They are unsecured where you have absolutely nothing to back the loans if you can not repay the banks when it comes to individual loans. Such loans are riskier for the banks and they have a higher interest rate for personal loans. Due to the nature of such individual loans, it is not advisable to take personal loans except for emergency scenarios.