A "low interest" loan shouldn't mean you have very little interest in paying it back!

    BOC Home Loan Singapore 2019

    Bank of China (BOC) offers mortgage loans for private properties, landed and non-landed. BOC provides an option to choose from various financing packages as per your requirements. The loan can be taken by those looking to invest, first-time purchasers, persons who want to upgrade their current property, and those who want to refinance their existing loan.

    Home Loans Offered by BOC

    • Housing Loan.
    • Term Loan.

    Interest Rates

    • BOC offers competitive interest rates.
    • Stable and fixed rates for a few years in the beginning.
    • Transparent interest rates fixed by the Singapore Interbank Offered Rate (SIBOR).

    Fees and Charges

      Fees and Charges
    After accepting the letter of offer (LO) and before disbursement of loan amount
    Revision of tenor or loan amount S$500
    Change of financing package As per the LO or at least S$500
    To include or exclude CPF savings S$500
    Changing fire insurance policy (with a different company’s) S$500
    Applying for or cancelling bridging loan S$500
    Cancellation of loan As mentioned in the LO
    After accepting the letter of offer (LO) and disbursement of loan amount
    Revision of tenor S$750
    Restructuring a loan plan (such as changing mode of payment) S$750
    Partial/full repayment of capital amount and re-pricing As mentioned in the LO
    Requesting usage of CPF for the first time S$500
    Changing fire insurance policy (to a different company’s) S$500
    Copy of loan statement: current year/previous 1 to 3 years/older than 3 years S$30/S$50/S$80 per statement
    Amendments to property title (splitting or amalgamation of land) S$2,500

    Types of BOC Home Loans

    • Housing Loan: BOC provides the Housing Loan when you are looking for a private property to live in or to invest in. The loan can be taken for both new houses and resale properties. If you want to refinance, you can opt for this loan as well.
    • Term Loan: BOC provides the term loan only if you want to purchase a property for personal use and investment purposes. Refinancing is not allowed using this loan.


    • Citizens of Singapore, Permanent Residents, and persons with foreign passports, who are aged between 21 and 65 years.
    • Persons with an income of at least S$24,000 per year.

    Documents Required

    • Sales & purchase agreement and option to purchase.
    • Recent Income Tax Assessment or electronic payslip. Self-employed persons must submit tax returns of the previous 2 years.
    • Recent CPF contribution history or CPF account statement.
    • Proof of sale of your existing property, wherever applicable.
    • Loan statement from the previous 6 months from the existing financer, wherever applicable.
    • Tenancy agreements, wherever applicable.
    • A copy of your passport or NRIC.

    Application Procedure

    If you want to borrow from BOC, you must visit their office or a sub-branch and talk to an executive to learn about the interest rates and the application procedure.

    Contact BOC

    You can call the BOC customer service hotline at 18006695566, +6567795566, or 18003385335 to inquire about the loan plans.

    Get in touch with BOC and get details on the loan plans offered by them. If it suits you, you can go ahead and purchase a comfortable home for you and your family without delay.

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