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 taken up in July 2003 to reflect its transforming function as a regional bank.
The bank was started by the Government of Singapore in July 1968 to take over the industrial financing activities from the Economic Development Board. Today, its branches numbering more than 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.
Suggestion For Getting Personal Loans In Singapore
Never ever take personal loans 2 to 3 months before another major loan. Simply puts, no personal loans if you’re intending to purchase a automobile, home, etc.
A crucial aspect is your DSR (Debt Servicing Ratio)when you take a bank loan for a vehicle or home. This measures what percentage of your income can go into paying back the real estate or vehicle loan, consisting of other overheads (e.g. payment for other individual loans).
To puts it simply, a Debt Servicing Ratio of 50% indicates that all your debt commitment can not surpass 50% of your income. As a guide, the majority of banks enable 40% Debt Servicing Ratio for a house and 30% for a auto loan
Particular Loans Are Cheaper – Take out a specific loan where you take a renovation loan for your renovation needs and a vehicle loan for your vehicle. It is not wise to secure a individual loan for your car or renovation needs. When it comes to banks, specific loans’ rates of interest are lower.
They are unsecured where you have absolutely nothing to back the loans if you can not pay back the banks when it comes to personal loans. 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 recommended to take personal loans except for emergency scenarios.