DBS Bank Ltd is a global banking and financial services corporation headquartered in Marina Bay, Singapore. The company was named The Development Bank of Singapore Limited, before the present name was taken up in July 2003 to mirror its transforming role as a regional bank.The bank’s strong capital position, along with “AA-” and “Aa1” credit ratings by Standard & Poor’s and Moody’s that are among the top-notch in the Asia-Pacific region, acquired it Global Finance’s “Safest Bank in Asia” accolade for six continuous years, from 2009 to 2015. The Bank was also awarded the Best Digital Bank in the World in the year 2016 by EuroMoney. With operations in 17 markets, the bank has a regional network covering more than 250 branches and over 1,100 ATMs across 50 cities
Suggestion With respect to Obtaining Personal Loans In Singapore
If you are planning to take a significant loan, do never get a individual loan from a bank a couple of months prior to the significant loan. This will affect you.
If you are taking a loan from the bank for a home or vehicle, it is essential to note your Debt Servicing Ratio which is a step of the portion of your routine earnings to the repayment of your vehicle or home loan.
Simply puts, a Debt Servicing Ratio of 50% means that your debt obligation can not surpass 50% of your income. As a guide, a lot of banks enable 40% Debt Servicing Ratio for a house 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 vehicle loan for your cars and truck. It is not a good idea to secure a personal loan for your car or renovation requirements. When it pertains to banks, particular loans’ rates of interest are lower.
When it concerns individual loans, they are unsecured where you have absolutely nothing to back the loans if you can not pay back the banks. Such loans are riskier for the banks and they have a higher rate of interest for personal loans. Due to the nature of such individual loans, it is not a good idea to take individual loans except for emergency situation scenarios.