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    We found 1 OCBC Personal Loan

    Bank Name
    Interest Rate
    Loan Tenure
    Joining Perks
    From 8.18% p.a. EIR from 18.47% p.a.
    1-5 Years
    What you'll love
    What you need
    What you need to consider
    What it costs

    OCBC Personal Loan

    Personal Loan BYTES FROM OUR KITCHEN

    From debt consolidation to balance transfer and cash loans, OCBC Bank offers different types of personal loans to meet the varying needs of its customers in Singapore. You can easily track and manage your loans via online banking and phone banking. OCBC Bank offers same-day loan approvals.


    You’re probably eligible for a OCBC Bank Personal Loan if you are

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    OCBC Bank Personal Loan Minimum Age

    Atleast 21 years

     OCBC Bank Personal LoanMaximum Age

    Above 21 Years

     OCBC Bank Personal Loan Eligible Employment Type

    Salaried or self-employed
    with regular income

     OCBC Bank Personal Loan Minimum Income

    Earn more than the minimum income required


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

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     OCBC Bank Personal Loan Minimum Salary

    Minimum income required
    S$20,000 p.a.

    OCBC Bank Personal Loan Maximum Loan Funded
  • 2X your monthly salary if earns annual income of S$20,000
  • 4X your monthly salary if earns annual income of S$30,000
  • 6X your monthly salary if earns annual income of S$120,000
  •  OCBC Bank Personal Loan EMI

    EMIs of other loans lower your eligibility


    Increase your eligible OCBC Bank Personal Loan amount by these steps

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     OCBC Bank Personal Loan Payoff Outstanding Credit Card Bills

    Pay off your credit card bills

    OCBC Bank Personal Loan Tenure

    Choose longer tenure loan up to 5 Years


    Documentation needed to apply for an OCBC Bank Personal Loan

    • 1.Photocopy of NRIC
    • 2. Salaried Employee
      • Latest Computerized Payslip OR
      • CPF Contribution Statement for past 12 months OR
      • Latest Income Tax Notice of Assessment (NOA)
    • 3. Variable Income/Commission Based Earner
      • Latest 6 months Computerized Payslip OR
      • CPF Contribution Statement for past 12 months OR
      • Latest Income Tax Notice of Assessment (NOA)
    • 4. Self-Employed
      • Income Tax Notices of Assessment (NOA) for past 2 years
    • 5.Any other documents as may be requested by the Bank at its sole discretion

    OCBC Bank Personal Loan DetailsUpdated on 17 Oct 2017

    OCBC Bank Personal Loan Details
    Interest Rate 8.18% p.a
    Minimum Income S$20,000 p.a.
    Max Loan Amount up to 6 times your monthly income
    Loan Tenure 1 - 5 Years
    EIR 18.47% p.a
    Processing Fee S$100 (For income < $30,000)

    Why choose OCBC personal loans?

    Ocbc personal loan

    Listed below are the reasons why you should opt for personal loans offered by OCBC Bank:

    • From flexible and fixed repayment options to debt consolidation plan, OCBC Bank offers a wide range of personal loans to suit your financial requirements.
    • With OCBC balance transfer and debt consolidation plan, you can enjoy competitive interest rates for a fixed tenure.
    • The bank has a 24/7 customer service support to resolve the queries of its customers.
    • The application and documentation process for personal loans at OCBC Bank is simple and easy.
    • Take a look at some of the special offers provided by OCBC Bank:
      • For EasiCredit Balance Transfer application via online banking or online form, new customers can get one-time low processing fee of 3.88% (EIR 4.33% p.a.) for a 12-month loan. Existing customers can get one-time low processing fee of 4.28% (EIR 4.76% p.a.) for a 12-month loan. This promotional offer starts on April 3rd, 2017 and ends on May 31st, 2017.
      • For online applications of Cash-on-Installment loan, you can get up to S$500 CapitaVouchers. This promotional offer is valid until May 31st, 2017.

    Types of OCBC personal loans

    Following are the different types of personal loans offered by OCBC Bank:

    1. Cash Loans: The cash loans offered by OCBC Bank are divided into 2 categories:
      • Fixed payment: You can repay the loan in regular fixed monthly installments. The 2 personal loans available under this category are Cash-on-Installment and ExtraCash Loan.
        • Cash-on-Installment: You can convert the credit line on your EasiCredit account or credit limit on your OCBC credit card into a fixed installment loan for a period of 12 to 60 months. The interest rates for Cash-on-Installment are as follows:
        • Loan tenure 12 months
          AIR 0% p.a.
          EIR 11.47% p.a.
          Processing fee (one-time) 2% of processed loan amount
        • ExtraCash Loan: Borrow up to 6 times your monthly income and repay it in regular fixed monthly installments. The loan amount will be approved on the same day and disbursed to your account instantly on approval. The interest rates for ExtraCash Loan are as follows:
        • Loan tenure 1 to 5 years
          Nominal Interest Rate 18.8% p.a.
          Effective Interest Rate 18.47% p.a.
          Processing fee (one-time) S$100 for income between S$20,000 to S$29,999. 2% of processed loan amount for income of S$30,000 and above
      • Flexible payment: You can choose when and how much to repay. The 2 personal loans available under this category are EasiCredit and Balance Transfer.
        • EasiCredit: Singaporeans or foreigners aged 21 years and above can apply for this loan. Enjoy easy access to cash via ATM withdrawals and cheques. Pay interest only on the outstanding balance. You can borrow up to 6 times your monthly income. The minimal annual income requirement for Singaporeans is S$30,000 and above, and for foreigners is S$45,000 and above. You can apply online using your Singpass login details or at the nearest OCBC Bank branch. The interest rates for EasiCredit are as follows:
        • For income between S$20,000 to S$29,999 For income from S$30,000 and above
          EIR: 29.8% p.a. EIR: 19.98% p.a.
          Minimum monthly payment: S$50 or 5% of the outstanding balance, whichever is higher Minimum monthly payment: S$50 or 3% of the outstanding balance, whichever is higher
        • Balance transfer: Maximise your interest savings with EasiCredit Balance Transfer at 0% p.a. interest rate (EIR 7.22% p.a.) for 3 months and 1.80% service fee. The minimum monthly payment amount is S$50 or 3% of the transfer amount, whichever is higher. Existing customers can apply for Balance Transfer via OCBC Online Banking and new customers can apply via OCBC website. The flexible repayment options for Balance Transfer are as follows:
        • 3 months AIR: 0% p.a. EIR: 7.22% p.a. Processing fee: 1.80%
          6 months AIR: 0% p.a. EIR: 5.19% p.a. Processing fee: 2.50%
          12 months AIR: 0% p.a. EIR: 4.99% p.a. Processing fee: 4.50%
    2. Debt Consolidation Plan: You can consolidate all your unsecured loan payments into one single repayment at a low interest rate of 6% p.a. (EIR 10.46% p.a.) for a loan tenure of 8 years. The total outstanding balance will include an additional 5% of the balance amount. This 5% is incurred to cover any fees and charges. You will get a free OCBC Platinum Credit Card.
      • Eligibility criteria:
        • Applicant must be a Singapore Citizen or Permanent Resident aged 21 years and above.
        • The annual income must be between S$30,000 to S$1,20,000.
        • Balance-to-Income must be minimum 12 times the monthly income.
      • Fees and charges for debt consolidation account:
      • Interest rate 6% p.a. (EIR 10.46% p.a.)
        Loan tenure 8 years
        Late repayment fee S$200
        Termination fee 5% of outstanding loan amount
        Over the counter payment or deposit S$25 per transaction
      • Fees and charges for debt consolidation credit card:
      • Effective Interest rate 25.92% p.a.
        Minimum monthly payment S$50 or 3% of the outstanding balance amount, whichever is higher
        Late repayment fee S$80
        Cash advance fee S$15 or 6% of the amount withdrawn, whichever is higher
        Interest on cash advance 28.92% p.a. (minimum charge is S$2.50 per month)
      • How to apply?
        • You can contact the bank at 6679 5128 on Monday to Friday from 9:00 am to 6:00 pm.
        • Or, you can submit online application and supporting documents on OCBC Bank website.
      • Documents required:
        • A copy of NRIC (both sides).
        • The latest Credit Bureau Report.
        • The latest income documents such as payslips, CPF statements, and Income Tax Assessments.
        • The latest unsecured credit loan and credit card statements.
        • Proof of the unbilled balances for unsecured credit instalment plans.
    3. Secured Overdraft: You can borrow personal loan from OCBC Bank by pledging your Fixed Deposit or Unit Trusts as collateral. Interest is charged only on the amount used. You can get extra cash without selling your unit trusts or breaking your FD. Interest rates are determined based on the collateral. You can contact OCBC Bank customer service toll-free number at 1800 363 3333 for any queries regarding Secured Overdraft.

    OCBC personal loan features and benefits

    Following are the features and benefits of OCBC personal loans:

    • For cash loans, you have the choice of flexible or fixed repayment options.
    • Same-day approval for fixed repayment loans and instant transfer of funds to your bank account on approval.
    • Loan repayment can be done online or through mobile funds transfer. Alternatively, you can also make cheque or cash deposits at ATMs or bank branch.
    • You can track and manage your loans via online banking or phone banking.

    OCBC personal loan eligibility and documentation

    Applicants must meet the following eligibility criteria to qualify for a personal loan at OCBC Bank:

    • Applicant must be minimum 21 years old.
    • The minimum annual income requirement for Singaporeans and Permanent Residents is S$20,000. For Foreigners, it is S$45,000.

    Applicants must submit the following documents when applying for a personal loan at OCBC Bank:

    • A copy of NRIC (both sides) for Singaporeans and Permanent Residents.
    • Employment Pass or valid Passport for foreigners.
    • The latest Credit Bureau Report.
    • The latest income documents such as payslips, CPF statements, and Income Tax Assessments.
    • The latest unsecured credit loan and credit card statements.
    • Proof of the unbilled balances for unsecured credit instalment plans.

    OCBC personal loan promotions

    Take a look at some exciting promotional offers offered by OCBC Bank:

    • For EasiCredit Balance Transfer application via online banking or online form, new customers can get one-time low processing fee of 3.88% (EIR 4.33% p.a.) for a 12-month loan. Existing customers can get one-time low processing fee of 4.28% (EIR 4.76% p.a.) for a 12-month loan. This promotional offer starts on April 3rd, 2017 and ends on May 31st, 2017.
    • Apply for Cash-on-Installment loan online and get:
      • S$100 CapitaVouchers if your loan amount is S$10,000 to S$19,999
      • S$300 CapitaVouchers if your loan amount is S$20,000 to S$29,999
      • S$500 CapitaVouchers if your loan amount is S$30,000 or above.

    OCBC personal loan fees and charges

    Following are the fees and charges applicable to OCBC personal loans:

    • Annual fee of S$80 is waived for the first year if your annual income is S$30,000 or above.
    • You will have to pay a minimum interest charge of S$5.
    • You will be charged S$40 for every returned cheque, S$30 for stop cheque reported via customer service or bank branch, and S$15 if reported via online or phone banking.
    • S$80 late payment fee if your annual income is below S$30,000 and S$85 to S$125 if your annual income is S$30,000 and above.
    • S$25 per transaction for over the counter deposit.

    How to apply for OCBC personal loan?

    Listed below are the different channels through which you can apply for OCBC personal loans:

    • Online: Apply online on the bank website. You will have to use your SingPass user ID and password to submit your CPF statements as supporting documents of income. Fill the application form and mail it to the bank with the necessary supporting documents.
    • Phone: You can contact the bank at 6679 5128 on Monday to Friday from 9:00 am to 6:00 pm. Or, SMS <Online> <Name> <NRIC> to 72222 and the bank’s customer service representative will call you back within 3 working days to initiate the application process.
    • Bank branch: Visit the nearest OCBC Bank branch to apply for a personal loan with the necessary income, identity, and age proofs.

    News About OCBC Personal Loan

    • OCBC Provides Wi-Fi Across Multiple Public Locations within Singapore

      OCBC Bank has recently launched Wi-Fi access free of cost at multiple locations on the island including OCBC Centre, Orchard Road, Singapore Sports Hub and 33 bank branches. OCBC has said that the bank installed more than 700 hotspots across the island which will benefit 30,000 consumers. This decision by OCBC has been taken to aid in meeting the demand for mobile broadband in the country and is also keeping in tune with the government’s plan in doubling Wireless@SG hotspots by the year 2018 to 20,000.

      This free Wi-Fi will benefit any consumer in the Wi-Fi Zone irrespective of whether they are an OCBC customer. Apart from showing support for the government’s plan in envisioning a wireless Singapore, the bank also hopes that OCBC will be engraved in everyone’s minds as holding a leading digital position.

      In Orchard Road along, the bank has setup 5 different hot spots extending the coverage up to 100 meters from the 5 bus stops outside Tangs, the Royal Thai Embassy, the Royal Plaza at Scotts, the Far East Plaza and The Heeren. Additionally, OCBC has installed another 684 hotspots across the island at Singapore Indoor Stadium, Singapore National Stadium, the Singapore Sports Hub, Sports Hub Library and Sports Hub Museum, Water Sports Centre, Kallang Wave Mall and CBC Arena to OCBC Aquatic Centre.

      Furthermore the bank as extended its Wi-Fi service to 33 of its branches including some of the densely populated areas including Causeway Point, ION Orchard, NEX Shopping Mall Toa Payoh, Ang Mo Kio and Vivo City. Consumers who are within the vicinity of the OCBC Centre will also have access to the free Wi-Fi.

      27th July 2016

    • OCBC Bank hopeful about SME loans

      Even though the economic sector of Singapore and other countries is performing moderately, OCBC Bank sees growth in SME loans. OCBC’s head of emerging business is expecting a rise in loans through government led projects in the healthcare and infrastructure sectors. Recently, banks in Singapore have noticed a change in the way SMEs deal with their staffing problems. SMEs are increasing their productivity by using technology and applying for government schemes. As the cost of everything is increasing, these schemes become important for SMEs as they help in lowering loan prices. To target this sector, OCBC bank has made some changes to provide better advice on government related schemes.

      17th May 2016

    • OCBC’s Wealth Management Business Expected to Grow in 2016

      The wealth management business of OCBC Bank is expected to grow in 2016 and it will help in balancing the slowdown in the growth of loans being experienced by the bank. According to a report released by DBS, the non-interest income of OCBC will most likely drive the earnings of the OCBC group in 2016. The non-interest income of the bank will be mostly generated by its private banking services and the insurance policies sold by its insurance wing, Great Eastern. It is expected that the wealth management business of OCBC bank will contribute around 20 percent of its non-interest income.

      14th December 2015

    • Singapore and China Alliance to Boost the Use of RMB

      Since October 13th, 2015 new initiatives have been taken by Singapore and China to boost the international use of renminbi (RMB). This implies that banks in Singapore will now be in a position to lend renminbi to corporates across Tianjin and Suzhou and vice versa.

      Until now the cross border initiatives to promote RMB was restricted between Singapore and the China-Singapore Suzhou Industrial Park (SIP) and the Singapore-Sino Tianjin Eco-City. This will now be extended to Tianjin and Suzhou as well. Not only will Singapore banks lend RMB to corporates across Tianjin and Suzhou but Tianjin and Suzhou will also be able to issue RMB bonds in Singapore. This will give the corporates in Tianjin and Suzhou more financing options and at the same time give Singapore more avenues to encourage the liquidity of RMB in Singapore.

      As per this new initiative, Tianjin and Suzhou corporates can repatriate 100% of the proceeds raised from their bonds issued in Singapore. SIP corporates will also be in a position to borrow from Singapore based banks. Even local banks such as UOB and OCBC are in support of this initiate as they are also of the opinion that this new initiative will be beneficial to banks in Singapore.

      This initiative was a result of the 12th Joint Council for Bilateral Cooperation (JCBC) which is co-chaired by Coordinating Minister for National Security Teo Chee Hean, Singapore Deputy Prime Minister and Vice Premier of the State Council of China, Zhang Gaoli.

      13th October 2015

    • OCBC CDMs to Accept All Notes

      Cash Deposit Machines (CDM) of OCBC Bank will now accept all Singapore Dollar notes, making the bank the first one to start this system in the country. Earlier, a person could not deposit certain notes like SGD2, SGD5 and SGD1000 through the CDMs.

      This upgrade will provide 24 hour service to the customers across all the branches of the bank. In addition to the 100 CDMs present in its branches, the bank plans to upgrade another 120 ATMs, which will provide withdrawal facility as well as accept cash deposits.

      According to the bank, this upgrade will shorten queues at the counters and it expects to transfer 25% of the transactions from the counter to the machines. OCBC bank has also estimated a gain of SGD6 million over the next five years as this upgrade will free the bank’s counter staff and allow them to focus on other transactions. At present, 3.5 million CD transactions take place over the counter annually.

      Aditya Gupta, Head of e-business, OCBC Bank Singapore says that the bank is working towards making daily banking more accessible to the customers.

      07th October 2015

    • Singapore shares rise up by 2.22 percent

      The Singapore shares have gone up by 2.22 percent in line with rest of Asia. The causal factors for this rise are the increasing oil prices and also the speculation that Federal Reserve will not increase the US rates of interest during this year.

      Straits Times Index have extended the gains for a 3rd session, with a sudden increase from 64.40 points to 2961.81 on a rally that was blue chip led by OCBC, DBS, Keppel Corp, UOB, Genting Singapore and Wilmar International.

      DBS banks jumped to 56 cents or 3.3 percent to SGD 17.48. Oversea Chinese Banking Corporation (OCBC) jumped to 26 cents or 2.9 percent to SGD 9.32 and United Overseas Bank (UOB) went up to 67 cents or 3.6 percent to SGD 19.52. Keppel Corporation climbed up to 26 cents or 3.8 percent to SGD 7.18, Genting Singapore climbed up to 4.5 cents or 6 percent to 79.5 cents and Wilmar International went up to 13 cents or 4.7 percent to SGD 2.89.

      The global growth forecasts were cut by IMF and the weak prices of commodity was cited. The forecast was that the world economy would witness a growth at 3.1 % in the current year and would go up to 3.6 % by the end of 2016. The two new forecasts are 0.2 % lower than what was forecasted in the month of July.

      06th October 2015

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