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 demonstrate 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 top in the Asia-Pacific region, received it Global Finance’s “Safest Bank in Asia” accolade for six continuous years, from 2009 to 2015. The Bank was also awarded 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 For Securing 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 cars and truck, house, etc.
If you are taking a loan from the bank for a house or vehicle, it is important to note your Debt Servicing Ratio which is a step of the percentage of your regular income towards the repayment of your automobile or house loan.
A DSR of 50% indicates your loan repayments, plus repayments of any other loans you have, cannot go beyond 50% of your income.Just for referral, the majority of banks enable 40% DSR for a home, and 30% DSR for a car.
Particular Loans Are Cheaper – Take out a particular loan where you take a renovation loan for your renovation requirements and a car loan for your car. It is not wise to take out a personal loan for your car or renovation requirements. When it pertains to banks, particular loans’ interest rates are lower.
When it pertains to personal loans, they are unsecured where you have nothing to back the loans if you can not pay back the banks. Such loans are riskier for the banks and they have a higher rates of interest for personal loans. Due to the nature of such individual loans, it is not a good idea to take personal loans except for emergency circumstances.