DBS Bank Ltd is a multinational banking and financial services corporation headquartered in Marina Bay, Singapore. The company was known as The Development Bank of Singapore Limited, before the present name was taken up in July 2003 to demonstrate its improving role as a regional bank.The bank’s strong capital position, together with “AA-” and “Aa1” credit ratings by Standard & Poor’s and Moody’s that are among the highest in the Asia-Pacific region, earned it Global Finance’s “Safest Bank in Asia” accolade for six increasing 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
Idea With respect to Getting Personal Loans In Singapore
If you are preparing to take a significant loan, do not ever secure a individual loan from a bank a few months prior to the major loan. This will affect you.
If you are taking a loan from the bank for a house or car, it is necessary to note your Debt Servicing Ratio which is a procedure of the percentage of your routine earnings to the payment of your vehicle or home loan.
To puts it simply, a Debt Servicing Ratio of 50% suggests that all your debt commitment can not surpass 50% of your income. As a guide, many banks allow 40% Debt Servicing Ratio for a home and 30% for a vehicle loan
Specific Loans Are Cheaper – Take out a specific loan where you take a renovation loan for your renovation requirements and a vehicle loan for your car. It is not a good idea to secure a personal loan for your automobile or renovation requirements. When it comes to banks, particular loans’ interest rates 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 advisable to take individual loans except for emergency scenarios.