DBS Bank Ltd is an international banking and financial services corporation headquartered in Marina Bay, Singapore. The corporation was known as The Development Bank of Singapore Limited, before the present name was adopted in July 2003 to mirror its transforming role as a regional bank.
The bank was started 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 over 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 When it comes to Getting Personal Loans In Singapore
Never take personal loans 2 to 3 months prior to another significant loan. In other words, no individual loans if you’re intending to purchase a car, house, and so on.
A key element is your DSR (Debt Servicing Ratio)when you take a bank loan for a vehicle or home. This measures what portion of your income can enter into paying back the real estate or vehicle loan, including other overheads (e.g. repayment for other individual loans).
In other words, a Debt Servicing Ratio of 50% indicates that all your debt obligation can not go beyond 50% of your income. As a guide, many banks allow 40% Debt Servicing Ratio for a home and 30% for a auto loan
Particular Loans Are Cheaper – Take out a particular loan where you take a renovation loan for your renovation requirements and a vehicle loan for your vehicle. It is not a good idea to secure a personal loan for your vehicle or renovation needs. When it concerns banks, particular loans’ rates of interest are lower.
When it pertains to personal loans, they are unsecured where you have 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 individual loans, it is not advisable to take personal loans except for emergency situation circumstances.