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 embraced in July 2003 to mirror its changing role as a regional bank.The bank’s strong capital position, and also “AA-” and “Aa1” credit ratings by Standard & Poor’s and Moody’s that are among the highest in the Asia-Pacific region, acquired 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 spanning more than 250 branches and over 1,100 ATMs across 50 cities
Tips With regard to Taking Personal Loans In Singapore
If you are preparing to take a major loan, do not ever secure a individual loan from a bank a couple of months before the major loan. This will affect you.
A crucial factor is your DSR (Debt Servicing Ratio)when you take a bank loan for a car or home. This measures what percentage of your earnings can enter into paying back the real estate or car loan, including other overheads (e.g. payment for other individual loans).
A DSR of 50% suggests your loan payments, plus payments of any other loans you have, can’t go beyond 50% of your income.Just for referral, many banks permit 40% DSR for a home, and 30% DSR for a cars and truck.
Particular Loans Are Cheaper – Take out a specific loan where you take a renovation loan for your renovation requirements and a auto loan for your automobile. It is not wise to take out a individual loan for your cars and truck or renovation requirements. When it comes to banks, particular loans’ rate 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 greater rates of interest for individual loans. Due to the nature of such personal loans, it is not recommended to take personal loans except for emergency circumstances.