DBS Bank Ltd is a global 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 transforming 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 top-notch in the Asia-Pacific region, acquired it Global Finance’s “Safest Bank in Asia” accolade for six consecutive 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 covering more than 250 branches and over 1,100 ATMs across 50 cities
Idea With regards to Acquiring Personal Loans In Singapore
Never take personal loans 2 to 3 months prior to another major loan. To puts it simply, no individual loans if you’re meaning to purchase a vehicle, house, and so on.
A crucial factor is your DSR (Debt Servicing Ratio)when you take a bank loan for a automobile or house. This determines exactly what portion of your income can go into repaying the housing or vehicle loan, including other overheads (e.g. repayment for other individual loans).
A DSR of 50% suggests your loan repayments, plus payments of any other loans you have, can’t surpass 50% of your income.Just for reference, many banks allow 40% DSR for a house, and 30% DSR for a car.
Particular Loans Are Cheaper – Take out a specific loan where you take a renovation loan for your renovation needs and a auto loan for your car. It is not smart to get a personal loan for your car or renovation requirements. When it concerns banks, specific loans’ interest rates are lower.
They are unsecured where you have nothing to back the loans if you can not repay the banks when it comes to individual loans. Such loans are riskier for the banks and they have a greater interest rate for individual loans. Due to the nature of such personal loans, it is not a good idea to take individual loans except for emergency situation circumstances.