DBS Bank Ltd is an international 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 reflect its evolving role as a regional bank.
The bank was put together by the Government of Singapore in July 1968 to manage the industrial financing activities from the Economic Development Board. Today, its branches numbering over 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 regard to Getting Personal Loans In Singapore
Never ever take individual loans two to three months before another major loan. In other words, no individual loans if you’re planning to buy a automobile, house, etc.
When you take a bank loan for a automobile or house, a key aspect is your DSR (Debt Servicing Ratio ). This determines exactly what percentage of your earnings can enter into repaying the real estate or vehicle loan, including other overheads (e.g. repayment for other personal loans).
So a DSR of 50% implies your loan payments, plus payments of any other loans you have, cannot go beyond 50% of your income.Just for reference, a lot of banks enable 40% DSR for a home, and 30% DSR for a cars and truck.
Specific Loans Are Cheaper – Take out a particular loan where you take a renovation loan for your renovation needs and a car loan for your vehicle. It is not wise to take out a personal loan for your vehicle or renovation needs. When it comes to banks, specific loans’ interest rates are lower.
When it concerns personal loans, they are unsecured where you have nothing to back the loans if you can not repay the banks. Such loans are riskier for the banks and they have a higher interest rate for individual loans. Due to the nature of such individual loans, it is not suggested to take individual loans except for emergency situations.