DBS Bank Ltd is a multinational banking and financial services corporation headquartered in Marina Bay, Singapore. The company was named The Development Bank of Singapore Limited, before the current name was adopted in July 2003 to demonstrate its evolving function 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 in excess of 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.
Advice With regard to Obtaining Personal Loans In Singapore
Never ever take personal loans 2 to 3 months before another significant loan. To puts it simply, no individual loans if you’re intending to purchase a automobile, home, etc.
If you are taking a loan from the bank for a house or car, it is important to note your Debt Servicing Ratio which is a measure of the portion of your regular income to the payment of your car or house loan.
To puts it simply, a Debt Servicing Ratio of 50% suggests that all your debt commitment can not surpass 50% of your income. As a guide, most banks permit 40% Debt Servicing Ratio for a home and 30% for a vehicle loan
Particular Loans Are Cheaper – Take out a specific loan where you take a renovation loan for your renovation requirements and a car loan for your cars and truck. It is not wise to take out a individual loan for your automobile or renovation needs. When it pertains to banks, particular loans’ rates of interest 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 personal loans. Such loans are riskier for the banks and they have a higher rates of interest for individual loans. Due to the nature of such individual loans, it is not a good idea to take individual loans except for emergency situation circumstances.