Oversea Chinese Banking Corporation Limited, commonly known as OCBC Bank, is one of the leading banks in Singapore. It offers customisable and innovative solutions with its financial products to meet the changing needs of the customers. This bank was founded by Lee Kong Chian, hence, the Lee family still influences the growth of this bank largely. Oversea Chinese Banking Corporation Limited has several branches, subsidiaries and representative offices all across China, Singapore, Hong Kong, Indonesia, Malaysia, the United Kingdom, the United States of America, and Australia.
Refinancing a home loan means that you take a new loan amount so that you can pay off the loan amount of your current mortgage. Oversea Chinese Banking Corporation Limited offers a unique home loan refinance scheme that proves to be extremely beneficial for the customers.
People generally choose the option of refinancing their home loan to lower the rate of interest for their benefit. The loan tenure can also be increased in order to decrease the amount of the monthly instalments. People also may want to shift from floating rate of interest to fixed rate of interest or vice versa. OCBC Home Loan Refinance scheme takes care of all of these and offers refinancing of up to 100 percent. The rates of interest offered by the Oversea Chinese Banking Corporation Limited Home Loan Refinancing are extremely lucrative for the customers. The customer support is dedicated and specialists of mortgage loans are always ready to help you with all your requirements and needs. The repayment choices for OCBC Home Loans are pretty flexible which makes things all the more easy and convenient for you.
OCBC Bank cares about its customers and offers products that are useful for different types of people asper their requirements and convenience. Basically, there are three packages of Home Loan refinancing that are offered by OCBC Bank.
Short Term fixed interest rates – As the name suggests, this is a fixed rate of interest plan which would help you to plan your budget and control the cash flow. The short term fixed interest rate plan offers protection from the fluctuations of interest rate for the initial years. It starts at 1.78 percent from the very first year.
Variable Interest rate – The rate of interest offered with this particular package is lesser than the fixed rate scheme. It can be as low as 1.58 percent for the first year. As per the OCBC Board Rate, the rate of interest offered are also subject to change.
SIBOR dependent rates – This packages offers rate of interest that are pegged to SIBOR. Based on the SIBOR rates, the rate of interest offered to the customers can also change. Every three months, the rates of interest are reviewed. For the first three years the rates of interest would be 3M SIBOR added with 0.85 percent.
Explore the Other Loan Offered OCBC Bank:
You avail up to 100 percent with the OCBC Home Loan Refinancing scheme.
The rate of interest offered with this particular scheme is 1.78 percent for the first year.
The maximum amount that can be availed by you for an HDB property is SGD 100,000.
The maximum amount that can be availed by you for a private property is SGD 200,000.
Yes, the short term fixed interest rate package offers great amount of protection from the fluctuations in interest rates.