DBS Bank Ltd is a global banking and financial services corporation headquartered in Marina Bay, Singapore. The company was referred to as The Development Bank of Singapore Limited, before the present name was adopted in July 2003 to demonstrate its changing role as a regional bank.The bank’s strong capital position, together 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 rewarded the Best Digital Bank in the World in the year 2016 by EuroMoney. With operations in 17 markets, the bank has a regional network spanning more than 250 branches and over 1,100 ATMs across 50 cities
Advice For Getting Personal Loans In Singapore
If you are planning to take a significant loan, do not ever secure a personal loan from a bank a few months before the major loan. This will affect you.
If you are taking a loan from the bank for a house or car, it is necessary to note your Debt Servicing Ratio which is a step of the portion of your regular earnings to the repayment of your vehicle or house loan.
In other words, a Debt Servicing Ratio of 50% implies that your debt commitment can not surpass 50% of your earnings. As a guide, many banks permit 40% Debt Servicing Ratio for a house and 30% for a auto loan
Specific Loans Are Cheaper – Take out a particular loan where you take a renovation loan for your renovation needs and a auto loan for your cars and truck. It is not a good idea to take out a individual loan for your car or renovation needs. When it concerns banks, particular loans’ rate 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 higher rate of interest for individual loans. Due to the nature of such individual loans, it is not recommended to take personal loans except for emergency situation scenarios.