DBS Bank Ltd is a multinational banking and financial services corporation headquartered in Marina Bay, Singapore. The company was referred to as The Development Bank of Singapore Limited, before the present name was adopted in July 2003 to mirror its evolving 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 highest in the Asia-Pacific region, received it Global Finance’s “Safest Bank in Asia” accolade for six consecutive years, from 2009 to 2015. The Bank was also rewarded 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
Tips With respect to Getting Personal Loans In Singapore
Never ever take personal loans two to three months prior to another major loan. To puts it simply, no individual loans if you’re intending to buy a vehicle, home, and so on.
If you are taking a loan from the bank for a house or cars and truck, it is very important to note your Debt Servicing Ratio which is a step of the percentage of your routine income to the repayment of your car or home loan.
Simply puts, a Debt Servicing Ratio of 50% implies that all your debt obligation can not surpass 50% of your earnings. As a guide, most banks permit 40% Debt Servicing Ratio for a house and 30% for a auto loan
Specific Loans Are Cheaper – Take out a particular loan where you take a renovation loan for your renovation requirements and a car loan for your vehicle. It is not wise to secure a individual loan for your vehicle or renovation requirements. When it concerns banks, particular loans’ interest rates are lower.
They are unsecured where you have absolutely nothing to back the loans if you can not repay the banks when it comes to personal loans. Such loans are riskier for the banks and they have a greater rate of interest for personal loans. Due to the nature of such individual loans, it is not advisable to take individual loans except for emergency situation circumstances.