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

    OCBC Home Loan Singapore

    In Singapore, OCBC offers different types of home loans to suit your requirements. Additionally, it allows you to choose from three different home loan rate packages. Read on to understand everything you need to know about OCBC home loans in Singapore.

    You’re probably eligible for an OCBC Bank Home Loan if you are

    OCBC Bank Home Loan Minimum Age

    Atleast 21 years

     OCBC Bank Home Loan Maximum Age

    Above 21 years

    OCBC Bank Home Loan Eligible Employment Type

    Salaried / Self-employed with regular income

    OCBC Bank Home Loan Minimum Income

    Earn more than the minimum income required

    Your OCBC Bank Home Loan amount eligibility is based on these factors

    OCBC Bank Home Loan Minimum Salary

    EMI limited to about 50% of monthly income

    OCBC Bank Home Loan Maximum Loan to property value

    Loan capped @80% of property value

    OCBC Bank Home Loan EMI

    EMIs of other loans lower your eligibility

    Increase your eligible OCBC Bank Home Loan amount by these steps

    OCBC Bank Home Loan Add Spouse as Co-applicant

    Make your spouse a co-applicant, and her income will add to your eligibility

    OCBC Bank Home Loan Maximum Tenure

    Choose longer tenure loan up to 30 yrs

    OCBC Bank Home Loan Add parents as Co-applicant

    Alternatively add your parents

    Documentation needed to apply for an OCBC Bank Home Loan

    • 1. Copy of NRIC/Passport of all Applicants & Owners
    • 2. Latest Computerised Payslip (salaried)
    • 3. CPF Statement – Latest 12 Months Contribution History (salaried)
    • 4. 2 Years Income Tax Assessment (self-employed)
    • 5. Option to Purchase or Sale & Purchase Agreement (for new purchase)
    • 6. Tenancy Agreements (if any)
    • 7. Evidence of sale of existing property (if applicable)

    OCBC Bank Home Loan DetailsUpdated on 11 Dec 2018

    OCBC Bank Home Loan Details
    Interest Rate Depends on the package you choose
    Margin of Finance Up to 80%
    Loan Tenure Maximum of 30 years

    OCBC Home Loan

    Types of OCBC Housing Loans

    Home Loan for New Purchase

    This includes private properties as well as HDB flats. The OCBC home loan allows you to choose from three different rate packages to best meet your funding requirements. All Singaporean citizens, PRs, and foreigners are eligible for this loan.

    Home Renovation Loan

    With the Renovation Loan, you can enjoy low monthly instalments and receive the cash within one working day after approval. The interest rates on these loans start from 4.98% p.a., if you are an existing OCBC home loan customer, or from 5.38% p.a., if you are not an existing OCBC home loan customer

    Home Loan Refinancing

    You can refinance your existing home loan from another bank to save on your interest charges. You can choose from different rate packages to suit your requirements. There will be no switching fee.

    Overseas Property Loan

    For all your overseas housing needs, OCBC offers financing for property purchases in major countries and cities across the world.

    • Loans are available for property investments in London, Tokyo, New York, Australia and Malaysia.
    • Finance up to 70% of the property price under this scheme.
    • Lengthy repayment tenor of up to 30 years.
    • Maximum financing of up to S$300,000.
    • Simplified application process.

    Construction Loan

    A loan dedicated for construction of a home on a vacant plot or towards redevelopment of an existing property.

    • Get finance of up to 80% of the construction cost.
    • Competitive interest rates.
    • Simple eligibility criteria. Singaporeans, Singapore PRs and foreigners are welcome to apply.

    Types of Home Loans Interest Rate Packages Offered by OCBC in Singapore

    The bank offers three different home loan interest rate packages to fund your private property, the construction of your new home or to purchase an HDB flat. Let’s take a look at each of these interest rate packages and see what you can expect.

    OCBC Fixed Home Rate

    Floating rate loans are generally cheaper than fixed rate loans and are subject to change from time to time. As of 15 May 2018, the first year OHR floating rate is 1.65% p.a. and second year OHR floating rate is 1.70% p.a. This package lets you pre-pay up to 50% of the loan amount within the lock-in period.

    SIBOR-Dependent Interest Rates

    A popular rate package offered by OCBC is the SIBOR-dependent interest rate package. In this case, the interest on the mortgage loan is pegged to the prevailing SIBOR Rate. The rates are a 3-month SIBOR + 0.30% for the first year, + 0.40% for the second year, and + 0.50% for the third year. Rates can be reviewed after every three months.

    Features and Benefits of the OCBC Home Loan

    • OCBC will fund up to 80% of the value of your property. The remaining needs to be paid as down payment.
    • A dedicated customer service will assist you with any queries you have regarding your home loan application.
    • You can choose between three different interest rate packages. If you’ve chosen a particular rate package, you can switch over to a different rate package at no additional cost.
    • You can choose a tenure of your choice, depending on the loan amount requested and your repayment convenience.
    • The application process is simple. The process involves just a few simple steps.

    OCBC Home Loan Interest Rate

    Rate Package First Year (p.a.) Second Year (p.a.) Third Year onwards (p.a.)
    Fixed Interest Rate 2.18% 2.18% May change at bank’s discretion
    OHR Floating Interest Rate 1.65% 1.70% May change at bank’s discretion
    SIBOR-dependent Interest Rate 3M SIBOR rate + 0.30% 3M SIBOR rate + 0.40% 3M SIBOR rate + 0.50%

    OCBC Home Loan Fee and Charges

    Late Payment fee in light of a late monthly repayment S$80
    Changing the law firm that manages your home loan S$200
    Restructuring of loan (change of loan tenure, or scheme or repayment) S$500

    How to Apply for an OCBC Housing Loan

    You can apply for a home loan from OCBC by visiting the official website of the bank and filling out the online home loan application form. The form has multiple fields where you’ll have to fill out different details relating to your name, date of birth, residential information, etc. You also have to submit your documents as suggested by the bank. The bank will then get in touch with you for further details, following which your application will be processed and reviewed.

    Eligibility Criteria to Apply for a Home Loan from OCBC

    • You should be a minimum of 21 years old.
    • You need to be a Singaporean, a Permanent Resident or a Foreigner.
    • The minimum income eligibility criteria as specified by the bank also needs to be met.

    Eligibility Criteria to Apply for an HDB Home Loan

    The following income ceilings will hold applicable for individuals who wish to purchase a HDB flat in Singapore:

    • 4-room flat: The gross monthly income of family members must not be more than S$12,000. An income of S$18,000 will hold valid in the case of a multi-generation family.
    • 3-room flat: The worth of mature estates should not exceed S$12,000.
    • At least one of the applicants should be a Singaporean citizen.

    Documents to be submitted

    • Computerized payslips, Letter of Appointment or employment letter, Tax Bill from IRAS for the last 2 years.
    • Copy of NRIC, both front and back.  
    • Marriage certificate, if applicable.
    • Valuation of the new property intended to be purchased.
    • Contract of ownership (mortgage).

    OCBC Home Loan for Foreigners

    OCBC provides home loans for foreigners. The following documents need to be submitted if you are a foreigner:

    • Copy of passport
    • Proof of income – employment pass and employment letter obtained from the employer
    • A local guarantor
    • Latest computerized payslips

    Modes of Repayment for OCBC Housing Loans

    Repayments can be made through internet banking before the due date every month. Applicants can also sign an agreement with OCBC wherein permission is granted to OCBC to deduct the monthly repayment amount on a fixed date every month till the loan tenure comes to an end.

    OCBC Home Loan Refinancing

    If you have an existing home loan with a particular bank, you can refinance your loan with OCBC. Refinancing your loan with OCBC will give the option to customize your repayments and also reduce your repayment amounts.

    OCBC OneAdvisor Home

    Getting a home loan is one of the most important decisions you might make in your lifetime. But finalising a house for yourself and finding the right home loan often take up a long time and research from multiple sources. This is where a one-stop service can be of immense value to a property buyer.

    OCBC OneAdvisor Home is an online platform aimed at providing residential property buyers relevant information and advice that would help them make better purchase-related decisions. The site does it through online tools, articles, and personalised expert advice. This service was launched by OCBC in January 2018.

    Affordability Calculator

    With this tool, you will be able to estimate how much it would cost you to purchase a property. This takes into account loan requirements, stamp duty costs, and more. You will also be able to review homes that fall within your budget range.

    The calculator allows you to include up to eight applicants with income details of at least one among them. Other details required include age, number of properties owned, citizenship or residency status, number of loans, monthly repayments, etc.

    Ask an Expert

    If you require more tailored advice, you can provide your contact details and information such as what kind of property you are interested in, and the bank will find a suitable specialist for you.

    With these facilities OCBC hopes to be more useful to their customers, in addition to helping the customers make the right decisions regarding home loans. 


    1. Can I pre-close my home loan with OCBC?

      A. OCBC gives you the option of pre-closing your home loan application. Additional pre-closure charges will accordingly be levied by the bank.

    2. What is the maximum tenure that I can choose?

      A. Depending on the loan amount, you can choose a tenure that can stretch to a period of up to 30 years.

    3. Can I make the 20% down payment towards my home loan through my CPF account?

      A. Yes, the down payment can be made through funds in your CPF account.

    4. Can I apply for a renovation loan if I already have a home loan with OCBC?

      A. Yes, you very much can. In fact, you’ll get much reduced interest rates than the original home renovation loan rate (prevailing rates on home renovation loans) if you already have a home loan with OCBC and you apply for a renovation loan too.

    5. What is the best interest rate package to choose from?

      A. For the first two years, the variable interest rate package has the lowest interest rate. Most packages are more or less similar in the rates they offer.

    6. I am looking at refinancing my existing home loan from another bank. Does OCBC provide this option?

      Yes, it does. The bank provides financing of up to 100% of the outstanding amount.

    7. What is the maximum amount that I can borrow under the Home loan scheme for new purchase?

      For HDB purchase, you can borrow from S$100,000 to 80% of valuation and S$200,000 to 80% of valuation for private properties.

    8. Please list the documents required for Overseas Property Loan application.
      • Lease agreement/Sale Contract/Reservation or Booking form.
      • NRIC/Passport copy
      • Work Permit or Employment Pass Copy(Foreigners)
      • Income proof such as payslips of last 6 months, CPF contribution of last 12 months and income statement of last 2 years for self-employed applicants.
    9. I would like to make an inquiry on my existing Home Loan with OCBC. Please provide a telephone number.

      The customer service department can be reached at 6363 3333.

    News About OCBC Home Loan

    • New Customers can Buy OCBC Home Insurance at S$98 a year till December, 2018

      Great Eastern General Insurance Limited, a part of the OCBC Group, has announced new promotional offers for all its new home insurance customers. The discount starts from S$30 for the starter plan and goes up to S$60 for the ultimate plan.

      09th January 2018

    • OCBC Launches Online Advisory Service for Singapore Property Buyers

      People in Singapore looking to purchase a residential property can now get advice and information about purchasing a home and ways to finance them on a single platform. OCBC has launched OneAdvisor Home, an online advisory service.

      05th January 2018

    • OCBC Tech-Savvy Team Seizes the Bank’s Destiny

      Initially, it all started as a small assignment with four aspiring tech professionals who wanted to build an app for the bank. However, as time progressed, this initiative became a key factor that resulted in the bank’s growth. Mr. Praveen Raina who is the senior vice-president for group operations and technology at OCBC Bank was one among the four passionate techies who wanted to build an app for the bank.

      One of the initial apps created by the tech team helped OCBC employees to access each other’s photos and contact details on phone. This app was instantly loved by the staff members since they didn’t have to struggle to get contact details from a physical directory anymore.

      Gradually, a team of four tech professionals has now grown into a full-fledged group of tech-savvies with a team size of thirty mobile developers. These mobile developers have successfully come up with several advanced apps with an intention to help both, OCBC staff members and customers.

      OCBC Bank has been the first bank in southeast Asia to introduce an open Application Programming Interface (API) platform. Similarly, for the first time in southeast Asia, OCBC used blockchain technology in the bank’s cross-border and local fund transfer and payment services. This initiative saved a lot of time for customers since they could complete a transaction in less than 5 minutes which was more than a day before this initiative was launched.

      The tech team has made several other technology advancements such as fund transfers using voice recognition via Apple iPhone’s Siri, and customers can use their banking applications through facial recognition. Mr. Raina strongly believes that goals of an organization need to be set up with a proper purpose to it. An initiative proposed should be beneficial for the end user.

      27th November 2017

    • Chatbot “Emma” helps procure home loans for OCBC

      OCBC, in collaboration with CogniCor, a startup, has developed a chatbot named “Emma” which has helped the bank bring in customers to sign up for home loans worth S$70 million.

      Emma learned all the financial terms and details about home loan and renovation loans that are frequently asked by potential buyers, in three months. Emma has a built-in total debt servicing ratio calculator which it uses to answer questions.

      The bank said that Emma can be updated with new policies or change in policies as well, to help answer customer questions efficiently.

      Emma is available on various digital platforms like smartphones, desktops and laptops. This move seems to be working like a charm for OCBC.

      09th November 2017

    • OCBC launches its new home loan rate- OCBC Home Rate

      To catch up with DBS’ strong grasp on home loan rate in Singapore, OCBC decided to introduce a new home loan rate called OCBC Home Rate or OHR which is fixed at 1%. OCBC no longer offers its fixed deposit-linked home loan rate OCBC FDMR. OHR is the long-term average of 1-month and 3-month Singapore Interbank Offered Rate (SIBOR). With OHR, people have the option of choosing either a floating rate or a fixed rate as per their desire.

      One of the most attractive feature of OHR is the free conversion offered to people whenever the OCBC rate goes up beyond their ability to pay. Another advantage of OHR is the option to pay 50% of the loan taken during the initial 2-year lock-in period without facing any penalty.

      OHR is calculated in such a way that the floating rate is often as stable as the fixed rate thus making it more attractive to people. OHR has brought stability to the home loan rate regardless of the movement of SIBOR. As a result, the OHR is not likely to go over 1% unless SIBOR crosses the 3% mark. So moving to OHR is a good option for people who are still on a SIBOR-linked rate.

      31st October 2017

    • HDB Signs S$10.7 Million Agreement to Facilitate Superior Construction in Singapore

      To improve the overall construction experience, Singapore’s Housing and Development Board (HDB) has signed two new R&D agreements worth S$10.7 million. The agreements have been entered into with the Singapore University of Technology and Design (SUTD) and the Nanyang Technological University (NTU).

      In partnership with NTU, HDB signed a project worth S$4.7 million. The objective of this project is to build a Smart Integrated Construction System (SICS). This system aims at using smart sensors and automated technology.

      The Goal of SICS:

      HDB and NTU will build SICS to increase the overall productivity and safety on the construction site. SICS will be powered by a smart tracking program so that the logistics of the HDB buildings can be managed in an efficient way.

      Important components of the SICS system include:

      Smart Crane System – With the help of the Smart Crane System, the complete hoisting process of the building materials will be automated. With automation, construction time reduces resulting in increased efficiency of the construction site.

      Integrated Building Information System (IBIS) – The IBIS forms a crucial component of the SICS. It acts as a collective workspace. This common digital platform will be useful for several industry partners to key in their latest project updates from different locations. The IBIS is highly effective for data sharing and helps partners, contractors and architects to have constant checks on their deadlines and budgets.

      Smart Tracking System – The Smart Tracking System will be helpful in bringing down disturbances in the entire construction process. It aims at making the complete construction procedure hassle-free. The building components are enabled with smart sensors to help contractors know how the construction materials are being distributed. The smart sensors also come with geo-tagging features to recognize incorrect deliveries if any.

      06th October 2017

    • OCBC inspires banking system with its chatbot success

      OCBC noticed that its potential leads were not reading the informative questions and answers at their FAQ page, which hampered lead generation in the home loan market. Moreover, home loans can be confusing, leaving customers with several doubts. OCBC has addressed this problem with its new chatbot Emma.

      Emma helped OCBC reduce several hours for the loan staff, who had to previously answer an array of customer queries. Moreover, it helped the bank in upping the lead quality.

      OCBC collaborated with Open Vault and CogniCor in building the chatbot. Besides concentrating on defining specific goals, the chatbot was built to ensure right workflow came in the right context. Also, the developers ensured that Emma is fun to chat with. The main objective for the bank was to identify challenges in order to train Emma to solve them.

      Within a tenure of six months, the chatbot has helped generate SG$33 million in home loans, besides improving lead conversion rates. Emma will soon be incorporating content or intent-based personalisation.

      22nd September 2017

    • OCBC revises mortgage rates to intensify the home loan turf war in Singapore

      Top banks in Singapore are staging a fierce battle in the home loan arena, with top local banks going the extra mile to offer better interest rates and capture a larger portion of the available market share.

      A recent addition in the home loan battle is OCBC – the affair was mostly between DBS and UOB until very recently. OCBC released its home loan package pegged to its variable internal rate, an uncharacteristic trend with most banks pegging their interest rates to public benchmarks like the Singapore Interbank Offered Rate.

      In its latest offering, OCBC offers rates of 0.7% in the first year, 0.65% in the second year, 0.6% in the third year and 0.55% in the fourth year. The bank offers a rate of 1.55% in the years subsequent to the fourth.

      These rates are in close competition with the rates offered by DBS and UOB. Both DBs and UOB recently announced launch of their zero spread FD-Home Loan rate with interest rates of 0.6% and 0.65% recently.

      This interest war between banks has promised to benefit home buyers in Singapore, as buyers can get preferential interest rates for their home loans.

      16th August 2017

    • OCBC launches new low-interest home loan package

      OCBC Bank has introduced a new home loan interest rate package in a bid to boost its mortgage loan numbers. The OCBC package is based on the bank’s internal board rate. The interest rate comes up to 0.7% for the first year, 0.65% for the second year, 0.60% for the third year, 0.55% for the fourth year and 1.55% thereafter.

      DBS and UOB also launched similar low-interest home loan packages earlier in the month. Both banks are now offering FD-rate based mortgage loan rates that start as low as 0.6% p.a.

      These are short-term promotional rates offered by the bank to woo customers as new housing projects are coming up across the island.

      19th July 2017

    • Many Singaporeans May Opt for Home Loans Linked to Fixed Deposits

      Many Singaporeans may soon opt for home loans that are linked to fixed deposits as these home loans are more likely to have stable interest rates. After the interest rate hike by the United States Federal Reserve, the interest rates for many mortgage customers in Singapore have increased. The decision of the Federal Reserve affected the SIBOR and SOR rates because of which the mortgage rates of most customers in the country have increased as the rates are linked to SIBOR or SOR. This is why most customers will now be attracted to the home loans for which the interest rates are linked to fixed deposit rates. Currently, only OCBC Bank and DBS Bank in Singapore offer mortgages with interest rates linked to fixed deposits.

      23rd December 2015

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