DBS Bank Ltd is a global banking and financial services corporation headquartered in Marina Bay, Singapore. The company was referred to as The Development Bank of Singapore Limited, before the present name was embraced in July 2003 to demonstrate its evolving role as a regional bank.The bank’s strong capital position, together with “AA-” and “Aa1” credit ratings by Standard & Poor’s and Moody’s that are among the top in the Asia-Pacific region, earned it Global Finance’s “Safest Bank in Asia” accolade for six increasing years, from 2009 to 2015. The Bank was also rewarded the Best Digital Bank in the World in the year 2016 by EuroMoney. With operations in 17 markets, the bank has a regional network spanning more than 250 branches and over 1,100 ATMs across 50 cities
Suggestion With respect to Acquiring Personal Loans In Singapore
Do not ever take out a individual loan from a bank a few months prior to the significant loan if you are planning to take a major loan. This will affect you.
If you are taking a loan from the bank for a house or car, it is essential to note your Debt Servicing Ratio which is a step of the percentage of your regular earnings to the payment of your automobile or house loan.
A DSR of 50% means your loan repayments, plus repayments of any other loans you have, can’t go beyond 50% of your income.Just for recommendation, a lot of banks enable 40% DSR for a home, and 30% DSR for a automobile.
Specific Loans Are Cheaper – Take out a particular loan where you take a renovation loan for your renovation requirements and a vehicle loan for your vehicle. It is not smart to secure a personal loan for your vehicle or renovation needs. When it concerns banks, particular loans’ interest rates are lower.
They are unsecured where you have 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 greater rates of interest for personal loans. Due to the nature of such individual loans, it is not suggested to take individual loans except for emergency scenarios.