DBS was established as Development Bank of Singapore Limited in the year 1968 by Economic Development Board, with the aim to strengthen the industrialization of the country by offering the required baking services for existing and new industrial, processing and manufacturing units. DBS is known for having played a fundamental role in reinforcing Singapore’s economic growth and bringing in foreign investments into the industrial sector. Ultimately, owing to its growth from being limited to its presence as a region-centric bank
Today, DBS is recognized for its principal market position in the South East Asian banking scenario as one of the largest banks in Asia. DBS merged with POSB in the year 1998, and went ahead to become the bank with the highest number of branches in Singapore, with nearly 2300 branches and self-servicing centres. Its substantial chunk of more than 4 million customers in the Asian hemisphere and operational stronghold was awarded with the title of ‘Safest Bank in Asia’ from the year 2009 to 2014 by Global Finance.
Less than 65 years
Salaried / Self-employed
with regular income
Earn more than the minimum
EMI limited to about 50%
of monthly income
EMIs of other loans lower
Make your spouse a co-applicant,
and her income will add
to your eligibility
Choose longer tenure loan up to 30 years
Alternatively add your parents
|Interest Rate||2.08% P.a for first 5 years|
|Margin of Finance||Upto 80%|
|Loan Tenure||25 years|
Have you been waiting all your life to build the house of your dreams for you and your family? Whether it’s an HDB Loan you wish to avail or build an industrial or commercial property, your dream can be realized with DBS Home Loans. Enjoy immense flexibility and improved ways to manage your mortgage, since DBS offers a wide range of home loans according to the nature of your needs.
You can also bridge loans, refinance an existing loan and learn tips for managing your mortgage in a better manner.
There are different types of Home Loan offered by DBS. The list will help you to understand them in a better way.
DBS HDB Loan : Realize your dream to own an HDB flat at a rate guaranteed to be lower than concessionary loan rate. These home loans are offered at a lower interest rate than that prevalent in the market, and what is more, there are no prepayment fees. Enjoy greater financial freedom from better savings.
DBS Private Property Home Loan : Bringing you one step closer to your dream home with the choice of convenient fixed interest rates or floating rate of interest pegged to FHR.
DBS Bridging Loan : Waiting for your old property to sell before you buy a new one? DBS Bridging Loan can help you make the down payment for the new property, wherein you can repay the principal once you receive the sale proceeds for your existing property.
DBS Home Loan Refinancing : If you think you are paying a higher interest rate than what is prevalent in the market, you could approach DBS to explore your refinancing options, once your lock-in period with your current bank is over.
The interest rates applicable on DBS home Loans are as follows:
|Safe-keeping of the deed title for a particular facility that is completely repaid||S$ 300 every year (or part thereof)|
|Change in the tenure of loan||S$ 250|
|Administrative fee required for third party insurer in an the event of fire insurance||S$ 100|
For Current Year
For previous 2 years
For previous 3 years or more than that
DBS Bank has several promotional offers which are lucrative and beneficial for its customers. Currently, there are no ongoing promotions. Keep an eye out for the different upcoming promotions.
The eligibility criteria for most DBS Home Loans are as follows:
Applicants must be below 65 years of age.
For DBS HDB Loan
A DBS Home Loan requires the following documentation:
For salaried employees:
For freelance /commission-based workers:
Kindly note that applicants need to submit the Option to Purchase or Sale and Purchase Agreement on a mandatory basis while purchasing a new property.
The loan tenure varies from one loan product to another. The loan tenure for DBS Commercial & Industrial Property Loan is up to 25 years.
Applicants would need to avail for a minimum DBS HDB loan amount of S$100,000.
If you have been paying a higher interest rate on your existing home loan from another bank as compared to the market-prevalent rate, you can apply for a refinancing loan at DBS once your lock-in period with the current bank is over.
The bad loans market, or the woods of non-performing assets, seems to be impacting Singapore’s DBS Bank. The number of bad loans shot up since the previous quarter to 1.5%, as highlighted in its June earnings.
The bank’s South and South-east Asia portfolio reveal that the loans associated with non-performing assets escalated by one whole percentage point in just 3 months to 4.6%. This reflects upon DBS’ soured loan troubles in India. Besides, the first half witnessed a near-tripling of write-offs. Thus, the $4.83 billion in non-performing assets is considerably higher than a year earlier.
Besides, credit costs would remain elevated on loans to Singapore's troubled offshore and marine industry, due to lower oil prices. In addition, the property market in Singapore might be bottoming out, without a robust recovery in picture.
Moreover, the bank has been pushing initiatives into private banking. They bought Australia and New Zealand (ANZ) Banking Group’s retail and wealth management franchise in some Asian markets last October. This move is paying off well for the bank. However, trading and equity underwriting remain weak spots.
Furthermore, the bank’s short-term interest rates have failed to keep pace with the London Interbank Offered Rate, which in turn negatively impacts profitability. Short-term interest rates are usually considered benchmark for loan pricing. The net interest margin stood at 1.74 per cent in the June quarter. This was a 13-basis-point decline from the previous year.
22nd September 2017
Much to the advantage of home buyers in Singapore, two of the top banks offering home loans at competitive interest rates to Singaporeans, DBS and UOB, are combating to provide better interest rates to customers.
Both DBS and UOB are vying to offer lower interest rates, with an intention to capitalise on the two new property launches taking place this year. The stake here is 1,225 homes from the two launches that are due to take place.
DBs and OCBC, in order to take competition to a new high, are offering a near-0% rate on their Fixed Deposit – Home Loan Rate packages. The current rates offered by DBS and UOB are 0.6% and 0.65% respectively.
The 0% spread is applicable until the time the property receives its temporary occupation permit, which usually takes about three to four years. Also, DBS’s provision of 0.6% is aligned with its 18-month FHR package while UOB’s 0.65% is aligned with its 36-month FHR package.
After the property receives its temporary occupation limit, the DBS loan spread is 1% and in the case of UOB, it is 0.9% for the first year, and 0.95% from the second year onwards.
16th August 2017
With Singapore looking at becoming a global leader in the financial world, it is taking steps to nurture talent in the field.
DBS Bank is taking the lead in this endeavour, with the launch of the DBS Academy, a 4,000 square foot centre for learning. Speaking at the inauguration, Mr. Tharman Shanmugaratnam, the Deputy Prime Minister and Coordinating Minister for Economic and Social Policies, highlighted how companies play a key role in shaping innovation in societies, and how such initiatives would help in shaping the future of the nation.
The Academy is looking at preparing employees for the future, providing them with the skill sets needed for the digital age through experiential learning.
DBS plans on opening up the Academy to partners like SMEs and Social Enterprises.
With technology changing the way business is being conducted, Asian banks face more competition, the need to train a skilled workforce is especially important.
To achieve this, DBS will be coming out with SkillsFlex, a partnership with NTUC LearningHub. This programme will complement SkillsFuture.
DBS bank staff will receive S$500 of course credits for customised courses as part of the SkillsFlex programme, which are in addition to SkillsFuture Credit courses.
10th December 2015
One of Singapore’s icons, the Raffles Hotel has been bought by the French-based AccorHotels. In an announcement in Paris on Wednesday, the group revealed it is acquiring FRHI (Fairmont Raffles Hotel International) Holdings for $2.9 billion.
As a result of this acquisition, AccorHotels will be the owners of the luxury Fairmont, Raffles and Swissotel brands of hotels.
FRHI, which is owned by Qatar Investment Authority (QIA), Kingdom Holding Company (run by the Saudi billionaire Prince Alwaleed bin Talal) and Oxford Properties, has over 155 properties, of which 40 are under development. The Savoy in London and The Plaza Hotel in New York along with the Raffles Hotel are a few of the iconic properties in its portfolio.
The acquisition has been described by AccorHotels as a strategic deal aimed at creating a world leader in the luxury segment.
AccorHotels will be issuing 46.7 million new Accor shares and paying $840 million in cash to acquire the company. Qatar Investment Authority and Kingdom Holding Company would be majority stakeholders, the former holding 10.5% and the latter 5.8% of the share capital.
Raffles Hotel, built during the British occupation of Singapore, is a 128 year old landmark that was declared a national monument in 1987. Over the course of its long history, it has played host to a veritable roll call of royalty and celebrity, from Rudyard Kipling to the Duke and Duchess of Cambridge.
Owned by the DBS Bank in the 1970s, the hotel has changed hands a number of times during its long history. The new millennium has seen it being owned by foreign firms like Colony Capital, Kingdom Holding and the Qatar Investment Authority.
10th December 2015
SME owners in Singapore can now easily apply for eleven types of DBS loans using the bank’s online portal. The bank has launched a new online service which enables borrowers to apply for loans without a signature. SMEs can apply for micro loans, business loans, property loans, overdrafts, import and export lines, equipment loans, factoring, foreign exchange, vehicle financing and business credit cards using this service. Enterprises can also track their loan applications online and set alerts to get immediate notifications from DBS.
This new introduction from DBS will benefit SME owners in a big way as they can save time on paperwork and also not face the hassle of signing multiple forms. As an industry pioneer, DBS has redesigned the loan application form, lessened the number of fields to be filled and reduced the loan application time to just ten minutes using the online service. The backend system of DBS’s online loan application process has also been linked to the Account and Corporate Regulatory Authority's database to fasten the processes.
DBS is the largest provider of micro loans to startups and SMEs in Singapore. While availing a micro loan, applicants generally have to fill two forms namely the DBS loan application form and the Local Enterprise Financing Scheme form. But under the new online service, these have been combined into a single form with the elimination of redundant fields. DBS has received positive feedback from customers using the online loan application process, with customers stating that the application process can be completed in just five minutes. DBS extends this online application service only to enterprises that have been registered and are operating in Singapore.
05th August 2015