DBS Bank Ltd is an international 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 changing function as a regional bank.
The bank was started by the Government of Singapore in July 1968 to manage 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 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.
Advice Regarding Securing Personal Loans In Singapore
Never take personal loans 2 to 3 months before another major loan. To puts it simply, no individual loans if you’re intending to purchase a car, home, etc.
A essential element is your DSR (Debt Servicing Ratio)when you take a bank loan for a cars and truck or home. This measures exactly what percentage of your income can enter into paying back the housing or auto loan, consisting of other overheads (e.g. payment for other individual loans).
In other words, a Debt Servicing Ratio of 50% indicates that your debt obligation can not surpass 50% of your earnings. As a guide, a lot of banks allow 40% Debt Servicing Ratio for a home and 30% for a auto loan
Specific Loans Are Cheaper – Take out a specific loan where you take a renovation loan for your renovation needs and a auto loan for your car. It is not smart to take out a personal loan for your automobile or renovation needs. When it pertains to banks, particular loans’ rate 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 individual loans. Such loans are riskier for the banks and they have a greater rate of interest for personal loans. Due to the nature of such personal loans, it is not recommended to take personal loans except for emergency situation circumstances.