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 demonstrate its evolving 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 increasing 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
Idea When it comes to Securing Personal Loans In Singapore
Never take individual loans two to three months prior to another major loan. To puts it simply, no individual loans if you’re planning to buy a vehicle, home, etc.
A crucial aspect is your DSR (Debt Servicing Ratio)when you take a bank loan for a automobile or house. This determines exactly what percentage of your earnings can enter into repaying the housing or car loan, including other overheads (e.g. payment for other personal loans).
In other words, a Debt Servicing Ratio of 50% means that your debt obligation can not exceed 50% of your earnings. As a guide, a lot 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 car loan for your vehicle. It is not smart to take out a individual loan for your vehicle or renovation needs. When it pertains to banks, specific loans’ rates of interest are lower.
When it concerns individual 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 recommended to take personal loans except for emergency circumstances.