United Overseas Bank Limited (typically known as UOB) is a Singaporean international banking organisation headquartered in Singapore, with branches mostly found in many Southeast Asian countries.UOB provides business and corporate banking services, individual monetary services, private banking and other property management services, as well as business financing, endeavor insurance coverage, financial investment, and capital services. It has 68 branches in Singapore and a network of more than 500 offices in 19 nations and territories in Asia Pacific, Western Europe and The United States and Canada
Advice With regards to Acquiring Personal Loans In Singapore
Never ever take individual loans 2 to 3 months before another major loan. Simply puts, no individual loans if you’re intending to purchase a cars and truck, house, etc.
When you take a bank loan for a car or home, a crucial aspect is your DSR (Debt Servicing Ratio ). This measures exactly what percentage of your income can go into repaying the housing or vehicle loan, consisting of other overheads (e.g. repayment for other personal loans).
In other words, a Debt Servicing Ratio of 50% suggests that all your debt commitment can not go beyond 50% of your income. As a guide, most banks permit 40% Debt Servicing Ratio for a house and 30% for a car loan
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 automobile. It is not a good idea to get a individual loan for your cars and truck or renovation requirements. When it comes to banks, particular loans’ rates of interest are lower.
They are unsecured where you have nothing to back the loans if you can not repay the banks when it comes to personal loans. Such loans are riskier for the banks and they have a greater rate of interest for personal loans. Due to the nature of such individual loans, it is not advisable to take individual loans except for emergency situations.