United Overseas Bank Limited (frequently referred to as UOB) is a Singaporean multinational banking organisation headquartered in Singapore, with branches mainly found in many Southeast Asian countries.UOB supplies commercial and corporate banking services, individual financial services, private banking and other asset management services, along with corporate finance, endeavor insurance, capital, and financial investment services. It has 68 branches in Singapore and a network of more than 500 offices in 19 countries and territories in Asia Pacific, Western Europe and The United States and Canada
Suggestion With respect to Getting Personal Loans In Singapore
Never ever take individual loans two to three months before another significant loan. To puts it simply, no individual loans if you’re intending to buy a car, house, and so on.
If you are taking a loan from the bank for a home or vehicle, it is necessary to note your Debt Servicing Ratio which is a step of the percentage of your regular earnings towards the payment of your automobile or home loan.
To puts it simply, a Debt Servicing Ratio of 50% suggests that your debt responsibility can not exceed 50% of your income. As a guide, most banks permit 40% Debt Servicing Ratio for a home and 30% for a auto loan
Specific Loans Are Cheaper – Take out a particular loan where you take a renovation loan for your renovation needs and a car loan for your car. It is not wise to secure a individual loan for your car or renovation requirements. When it concerns banks, particular loans’ rate of interest are lower.
They are unsecured where you have nothing to back the loans if you can not repay the banks when it comes to personal loans. Such loans are riskier for the banks and they have a higher rate of interest for personal loans. Due to the nature of such personal loans, it is not a good idea to take personal loans except for emergency scenarios.