DBS Bank Ltd is a multinational banking and financial services corporation headquartered in Marina Bay, Singapore. The corporation was named The Development Bank of Singapore Limited, before the present name was adopted in July 2003 to mirror its changing role as a regional bank.
The bank was established by the Government of Singapore in July 1968 to take control of the industrial financing activities from the Economic Development Board. Today, its branches numbering greater than 100 can be found island-wide. DBS Bank is the largest bank in South East Asia by assets and among the larger banks in Asia, with total assets of S$ 482 billion as at 31 Dec 2016. It has market-dominant positions in consumer banking, treasury and markets, asset management, securities brokerage, equity and debt fund-raising in Singapore and Hong Kong.
Suggestion With regards to Obtaining Personal Loans In Singapore
Never ever take personal loans 2 to 3 months before another significant loan. To puts it simply, no individual loans if you’re meaning to buy a vehicle, house, and so on.
If you are taking a loan from the bank for a home or vehicle, it is important to note your Debt Servicing Ratio which is a step of the percentage of your routine earnings towards the payment of your automobile or home loan.
Simply puts, a Debt Servicing Ratio of 50% means that all your debt responsibility can not surpass 50% of your income. As a guide, most banks enable 40% Debt Servicing Ratio for a home and 30% for a vehicle loan
Particular Loans Are Cheaper – Take out a specific loan where you take a renovation loan for your renovation requirements and a car loan for your automobile. It is not wise to get a personal loan for your car or renovation needs. When it pertains to banks, specific loans’ rate of interest are lower.
When it pertains to personal loans, they are unsecured where you have absolutely nothing to back the loans if you can not repay 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 situation situations.