DBS Bank Ltd is a multinational 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 adopted in July 2003 to mirror its evolving function as a regional bank.
The bank was put together by the Government of Singapore in July 1968 to take over 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 largest 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 regard to Obtaining Personal Loans In Singapore
Never take individual loans two to three months prior to another significant loan. Simply puts, no individual loans if you’re meaning to buy a automobile, home, etc.
If you are taking a loan from the bank for a house or automobile, it is important to note your Debt Servicing Ratio which is a measure of the portion of your routine income towards the payment of your vehicle or house loan.
To puts it simply, a Debt Servicing Ratio of 50% means that all your debt obligation can not surpass 50% of your earnings. As a guide, many banks enable 40% Debt Servicing Ratio for a house and 30% for a car loan
Loans Get Cheaper As the Loan Gets More Specific – So when it comes to getting loans, be as particular as you can. Do not take a individual loan to refurbish your house, not when there’s a renovation loan package. Don’t take a individual loan to pay for your education, when there’s an education loan plan.
In order to encourage you, specific loan packages often have lower interest rates. Individual loans tend to charge interest of about 6% to 8%, whereas particular loans (renovation loans, education loans, etc).
Most personal loans are unsecured. As in, there’s no security behind them. And considering that the issuing banks have no security, they’ll compensate by boosting rate of interest.
That means you need to never ever take a individual loan without knowledge of exactly when and how you’ll pay it back.
Do not utilize individual loans as alternative business loans. You should only take a personal loan to relieve cash flow problems.