DBS Bank Ltd is an international 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 adopted in July 2003 to reflect its changing 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 continuous years, from 2009 to 2015. The Bank was also presented 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 Regarding Getting Personal Loans In Singapore
If you are preparing to take a significant loan, do never secure a personal loan from a bank a couple of months prior to the significant loan. This will impact you.
If you are taking a loan from the bank for a house or car, it is very important to note your Debt Servicing Ratio which is a step of the percentage of your routine earnings towards the repayment of your cars and truck or home loan.
To puts it simply, a Debt Servicing Ratio of 50% suggests that all your debt responsibility can not exceed 50% of your income. As a guide, many banks permit 40% Debt Servicing Ratio for a house and 30% for a car loan
Particular Loans Are Cheaper – Take out a specific loan where you take a renovation loan for your renovation needs and a vehicle loan for your cars and truck. It is not a good idea to get a personal loan for your vehicle or renovation requirements. When it comes to banks, particular loans’ rates of interest are lower.
When it concerns individual 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 higher rates of interest for individual loans. Due to the nature of such individual loans, it is not recommended to take individual loans except for emergency circumstances.