DBS Bank Ltd is an international banking and financial services corporation headquartered in Marina Bay, Singapore. The corporation was named The Development Bank of Singapore Limited, before the current name was embraced in July 2003 to reflect its evolving role as a regional bank.
The bank was started by the Government of Singapore in July 1968 to take over 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 With respect to Securing Personal Loans In Singapore
If you are preparing to take a significant loan, do never secure a individual loan from a bank a couple of months prior to the significant loan. This will impact you.
A essential factor is your DSR (Debt Servicing Ratio)when you take a bank loan for a car or house. This determines what percentage of your earnings can enter into repaying the housing or auto loan, consisting of other overheads (e.g. repayment for other individual loans).
A DSR of 50% indicates your loan payments, plus payments of any other loans you have, cannot exceed 50% of your income.Just for referral, most banks allow 40% DSR for a house, and 30% DSR for a automobile.
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 smart to take out a personal loan for your vehicle or renovation needs. When it concerns banks, particular loans’ rates of interest are lower.
When it pertains to personal loans, they are unsecured where you have absolutely nothing to back the loans if you can not repay the banks. Such loans are riskier for the banks and they have a higher rate of interest for individual loans. Due to the nature of such personal loans, it is not a good idea to take personal loans except for emergency situations.