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

    OCBC Home Loan Singapore

    OCBC offers home loans for renovations, constructions, refinancing, making a new purchase, and to purchase a property abroad. The bank provides various interest rate packages and a quick approval process.

    Home Loans Offered by OCBC

    • Home Loan (new purchase).
    • Home Loan (refinancing).
    • Renovation Loan.
    • Overseas Property Loan.
    • Construction Loan.

    Interest Rates

    Loan Interest Rate
    Home Loan (new purchase) 1.8% p.a. to 2.68% p.a.
    Home Loan (refinancing) 1.8% p.a. to 2.68% p.a.
    Renovation Loan 4.98% p.a. to 5.38% p.a.
    Overseas Property Loan Not available
    Construction Loan Not available

    Fees and Charges

      Fees and Charges
    Change of loan structure, repayment scheme, or tenure S$500
    To use CPF money for your property and other related CPF procedures S$500
    Late payment S$80
    Re-pricing of the loan S$1,000 or the amount quoted by a customer care executive

    Details of OCBC Home Loans

    • Home Loan (new purchase): Under this loan scheme, you can borrow from S$200,000 to up to 75% of the property value. You can use it to buy an HDB home or a private house. Different interest packages are available such as a 2-year fixed rate package where there will not be fluctuation in rates for the first 2 years, the OCBC mortgage board rate where the interest will be 2.30% p.a. for 3 years in the beginning, and the 3-month/6-month Singapore Interbank Offer Rate where the interest will gradually increase. Switches can be made between the three packages at zero cost.
    • Home Loan (refinancing): Under this scheme, you can borrow $200,000 for an HDB property and S$300,000 for a private property. Interest rate packages available with loans for new purchases are available for refinancing as well. You will have an option to switch between the packages whenever you feel necessary without extra cost. Customising of the package is available.
    • Renovation Loan: The Renovation Loan amount that you can borrow can either go up to 6 times your monthly salary or be limited to S$30,000, the lower amount of the two. While OCBC Home Loan customers can get the Renovation Loan at 4.98% p.a., non-OCBC Home Loan customers will get the loan at 5.38% p.a. The loan amount will be disbursed in 1 business day, as long as all the documents submitted are perfect.
    • Overseas Property Loan: This loan holds good for property purchases in London, Perth, Melbourne, Sydney, Tokyo, New York, and Malaysia. OCBC provides you with up to 70% of the price of the property. The minimum loan amount for a property in London, Australia, and New York is S$300,000. The same for a property in Malaysia or Tokyo is S$200,000. OCBC allows you to purchase completed buildings and those under construction, depending on the city, with their overseas loan.
    • Construction Loan: This loan covers construction costs to up to 80%. OCBC provides attractive interest rates for this scheme. It can be converted into a customised home loan package when the construction is over. Construction Loan can be taken to redevelop an existing property and to build on a vacant plot from scratch.

    Features and Benefits

    • An option to prepay up to 50% of the amount of the Home Loan, before the lock-in period ends.
    • Dedicated specialists will help you throughout the loan process period.
    • Affordable monthly instalments to make repayment a smooth process.
    • OCBC OneAdvisor Home digital platform is available for you to find homes in affordable prices, renovation designs, and advise you on how to use CPF to make payments.
    • The flexible repayment period of the Renovation Loan can vary between 1 and 5 years.
    • For the Renovation Loan, you will get the cashier’s order for free the first 3 times.
    • OCBC provides you with a HDB-approved list of interior designers and renovation contractors.
    • Get up to 30 years to repay your Overseas Property Loan.
    • A bridging loan will be provided by the bank to pay the downpayment, stamp duty, and legal fees, if need be.


    • Singapore Citizens and Permanent Residents aged between 21 and 59 years.
    • Minimum income to get a Renovation Loan must be S$24,000 per annum. In case of a joint application, at least one of the applicants must earn S$24,000.
    • Foreigners can take out loans if approved by Land Dealings.

    Documents Required

    • Loan application form.
    • Copy of your ID (NRIC, passport, work permit, or employment pass).
    • Documents to prove your monthly income, such as payslips of the previous 6 months, CPF contribution history of 12 previous months, or income tax statements from the previous 2 years (for self-employed persons).
    • In case of a joint application, a document to show your relationship with the other applicant.
    • Contractor’s quote, for Renovation Loan.
    • Option to Purchase, for resale of HDB flats or private property.
    • Other loan and credit card statements.
    • ‘Financial Information’ from HDB InfoWeb and valuation report.
    • Booking form, reservation form, contract for sale, or lease agreement of overseas properties.

    How to Apply for an OCBC Home Loan?

    • Contact a mortgage specialist at OCBC or visit your nearest branch and talk to a staff member.
    • Submit all the required documents at the bank or to an OCBC mortgage specialist.
    • Once approved, sign the offer letter and you will receive the loan amount through a cashier’s order.

    How to Contact OCBC Home Loan Executive?

    • Submit your contact details through a form on OCBC’s official website and get them to call you back.
    • Call OCBC hotline at ‘+6563633333’ on weekdays between 9 a.m. and 5 p.m. to enquire about loan details and the application process.
    • Use the ‘Ask Emma’ option to chat with a bank executive.

    Repayment of the Loan

    • As mentioned in your letter of offer, you must pay monthly instalments to repay the principal amount and interest.
    • The first instalment must be paid on the date of commencement.
    • The subsequent instalments must reach the bank by 15th of every month.
    • You can use your CPF savings to repay the bank, if the CPF Board has agreed for it.
    • In case you haven’t paid the full instalment amount from your CPF in a particular month, the rest will be deducted from the account you have at the bank.
    • If you opt for prepayment, a fee will be levied. The fee will be mentioned in your letter of offer.

    Be it in Singapore or abroad, OCBC home loans have got you covered. Hurry up and purchase your dream home. Make a comfortable haven for your retirement. Don’t hesitate to contact the bank and start you process as early as possible. 

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