DBS Bank Ltd is an international banking and financial services corporation headquartered in Marina Bay, Singapore. The corporation 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 set up by the Government of Singapore in July 1968 to manage 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 biggest 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.
Advice For Getting Personal Loans In Singapore
Never take personal loans 2 to 3 months prior to another major loan. In other words, no personal loans if you’re meaning to buy a car, house, etc.
If you are taking a loan from the bank for a home or car, it is necessary to note your Debt Servicing Ratio which is a measure of the percentage of your regular income towards the payment of your automobile or house loan.
To puts it simply, a Debt Servicing Ratio of 50% suggests that all your debt obligation can not exceed 50% of your earnings. As a guide, the majority of banks enable 40% Debt Servicing Ratio for a home and 30% for a auto loan
Particular Loans Are Cheaper – Take out a particular loan where you take a renovation loan for your renovation requirements and a auto loan for your automobile. It is not a good idea to take out a individual loan for your cars and truck or renovation requirements. When it comes to banks, particular loans’ rates of interest are lower.
When it comes to 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 rate of interest for individual loans. Due to the nature of such personal loans, it is not advisable to take individual loans except for emergency scenarios.