DBS Bank Ltd is an international banking and financial services corporation headquartered in Marina Bay, Singapore. The corporation was referred to as The Development Bank of Singapore Limited, before the current name was embraced in July 2003 to demonstrate its changing role 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 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.
Recommendation With regard to Acquiring Personal Loans In Singapore
Never take personal loans 2 to 3 months before another significant loan. In other words, no individual loans if you’re meaning to purchase a cars and truck, house, and so on.
If you are taking a loan from the bank for a home or vehicle, it is necessary to note your Debt Servicing Ratio which is a procedure of the percentage of your regular income towards the repayment of your cars and truck or home loan.
To puts it simply, a Debt Servicing Ratio of 50% suggests that your debt commitment can not exceed 50% of your earnings. As a guide, the majority of banks permit 40% Debt Servicing Ratio for a home and 30% for a car 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 a good idea to take out a individual loan for your automobile or renovation needs. When it pertains to banks, particular loans’ rates of interest are lower.
When it comes 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 rates of interest for individual loans. Due to the nature of such personal loans, it is not recommended to take individual loans except for emergency scenarios.