DBS Bank Ltd is a multinational banking and financial services corporation headquartered in Marina Bay, Singapore. The corporation was named The Development Bank of Singapore Limited, before the present name was adopted in July 2003 to demonstrate its changing function as a regional bank.
The bank was set up 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 biggest 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 Obtaining Personal Loans In Singapore
Do not ever take out a personal loan from a bank a couple of months before the significant loan if you are preparing to take a major loan. This will impact you.
If you are taking a loan from the bank for a home or automobile, it is very important to note your Debt Servicing Ratio which is a step of the portion of your regular earnings to the payment of your car or home loan.
In other words, a Debt Servicing Ratio of 50% suggests that all your debt obligation can not surpass 50% of your earnings. As a guide, many banks allow 40% Debt Servicing Ratio for a house and 30% for a car loan
Specific 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 car or renovation needs. When it comes to banks, particular loans’ rate of interest are lower.
When it pertains to individual 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 individual loans, it is not advisable to take personal loans except for emergency scenarios.