DBS Bank Ltd is a multinational banking and financial services corporation headquartered in Marina Bay, Singapore. The company was known as The Development Bank of Singapore Limited, before the present name was embraced in July 2003 to reflect its transforming role as a regional bank.
The bank was set up 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.
Suggestion For Acquiring Personal Loans In Singapore
If you are planning to take a significant loan, do never secure a individual loan from a bank a couple of months before the major loan. This will impact you.
A key element is your DSR (Debt Servicing Ratio)when you take a bank loan for a vehicle or home. This determines exactly what percentage of your earnings can enter into paying back the real estate or car loan, consisting of other overheads (e.g. repayment for other personal loans).
A DSR of 50% suggests your loan payments, plus payments of any other loans you have, can’t exceed 50% of your income.Just for recommendation, many banks allow 40% DSR for a house, and 30% DSR for a automobile.
Particular Loans Are Cheaper – Take out a specific loan where you take a renovation loan for your renovation requirements and a car loan for your cars and truck. It is not smart to get a personal loan for your automobile or renovation needs. When it pertains to banks, particular loans’ rates of interest are lower.
When it concerns personal 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 greater interest rate for individual loans. Due to the nature of such individual loans, it is not a good idea to take individual loans except for emergency situation situations.