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    DBS Equipment Financing

    Using the Equipment Financing by DBS bank, you can finance your equipment or commercial vehicles with a very minimum upfront capital required.

    Why choose DBS bank?

    • You can purchase any equipment that your business requires with a minimal upfront capital required to be paid from your end.
    • The payments needed to be paid for this loan are all predetermined installments that will allow you to ease your cash flow and meet all the financial needs and requirements for your business.
    • The bank offers competitive interest rate packages that will give you better control over your costs.
    • You can also facilitate overseas purchases through DBS Trade and FX Services.

    Features and Benefits of DBS Equipment Financing

    • Loan Quantum – DBS offers its customers financing of up to 90% for their businesses.
    • Loan Tenure – You can choose from a flexible range of loan tenures offered by the bank that ranges up to 7 years.
    • Interest Rate Packages – You can choose from an array of interest rate packages. DBS offers its customers a flat rate loan for Equipment Financing. Additionally, you can also apply for interest rate packages that are pegged to the DBS Prime Rate or the ABS SIBOR rate.
    • Financing of machinery located overseas – Through the Internationalisation Finance Scheme, DBS bank offers financing for machinery located overseas. You can visit the Internationalisation Finance Scheme page available on the official DBS bank, Singapore website for further information.

    What is the difference between a Hire Purchase and a Term Loan?

    A hire purchase differs from the term loan on several parameters. Find below the stark differences between the two -

     Type / Parameters DBS Hire Purchase DBS Term Loan
    Ownership of equipment / commercial vehicle Starts when the final instalment has been paid in full Starts from the day you receive your term loan
    Interest Rate Structure Usually flat - rate DBS offers flat rate and floating rate packages pegged to DBS Prime Rate and ABS SIBOR rate
    Documentation of terms In a Hire Purchase Agreement governed under the Hire Purchase Act or Hire Purchase Common Law In a loan agreement and DBS takes a charge over the equipment / commercial vehicle
    Registration of legal interest DBS registers as an Hire Purchase owner with the Hire Purchase Association and/or Asset Financing and Leasing Association of Singapore DBS registers with ACRA
    Legal fees and stamp duty NIL / Not Applicable Stamp duty applies and Legal fees may apply. DBS may / may not provide subsidy on these fees

    Applying for the DBS Equipment Financing

    You can apply for the DBS Equipment Financing by calling the bank during their business hours. The bank will then arrange for a relationship manager who will then contact you and take the process forward.

    Explore the Machinery & Equipment Financing From Top Banks:

    Explore the Machinery & Equipment Loan From Top Banks:

    Frequently Asked Questions

    1. What is the maximum financing that the bank offers for the DBS Equipment Financing?
    2. The bank offers a maximum loan quantum of 90% financing at competitive interest rate packages for their DBS Equipment Financing.

    3. Does DBS bank offer financing for equipments / commercial vehicles located overseas under the DBS Equipment Financing?
    4. Yes. As per the Internationalisation Finance Scheme, DBS bank offers financing for machinery located overseas. You can visit the Internationalisation Finance Scheme page available on the official DBS bank, Singapore website for further information.

    5. Do I need to insure my equipment / commercial vehicle that is financed by DBS Hire Purchase?
    6. Yes. If you wish to finance your equipment through DBS Hire Purchase, you will have to take an all – risks insurance policy at the prevailing market value. Consequently, if you wish to finance your commercial vehicle using DBS Hire Purchase, you will be required to take a comprehensive insurance policy at the prevailing market value.

    7. Is there a prepayment penalty charge on the outstanding amount in my DBS Hire Purchase?
    8. No. DBS allows for full prepayments for the Hire Purchase on equipment and commercial vehicles. The bank does not charge a prepayment fee for early termination of the hire purchase agreement, however, you will be required to submit a written notice one month before the termination of the HP agreement for the equipment purchased. A written notice is not required in case of commercial vehicles.

    9. How do I apply for the DBS Equipment Financing?
    10. You can apply for the DBS Equipment Financing by contacting the bank via telephone during their business hours. The bank will then arrange for a relationship manager to speak with you who will then contact you and take the process forward.

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