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    OCBC Personal Loan

    We found 1 OCBC Personal Loan

    Bank Name
    Interest Rate
    Loan Tenure
    Joining Perks
    From 8.18% p.a. EIR from 18.74% p.a.
    1-5 Years
    What you'll love
    What you need
    What you need to consider
    What it costs

    OCBC Personal Loan


    OCBC Personal Loan

    Whether you’re in urgent need of funds or looking forward to fulfilling a casual need which requires financial stimulus, a personal loan can be the best answer. This type of loan is generally the most preferred option due to its accessibility nature. A personal loan is a type of unsecured debt extended by banks and financial institutions at moderate interest charges. As the title suggests, the amount disbursed can be utilised towards emergency or casual needs.

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

    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

     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

     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 27 Apr 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)

    Overview OCBC Bank Personal Loan

    Oversea-Chinese Banking Corporation Limited (OCBC) is a Singapore centered banking and financial services institution founded in 1932. This publicly listed banking mammoth is one of the largest banking institutions in Asia Pacific with assets of more than 224 billion SGD. OCBC has enduring presence in Southeast Asia with subsidiaries, branches and offices in over 15 countries such as Malaysia, Hong Kong, China, Australia & Japan. It also has representative offices in continental bellwether, the United Kingdom & USA.

    Unlike other forms of object linked loans such as car or home, a personal loan amount can be utilised to fulfil a slew of needs since lenders refrain from inquiring about the purpose of borrowing during application. Therefore, if you’re looking for fast funds, a personal loan can be your Man Friday! OCBC offers a full range of personal loan products from its kitty in retail lending portfolio. Let us throw more light on Fixed Repayment (ExtraCash Loan), the traditional personal loan device from the bank.

    About OCBC Bank Personal Loan Singapore

    A feature rich personal credit product, Fixed Repayment (ExtraCash Loan) option from the bank provides easy access to funds at nominal paperwork. Get up to 6x your monthly salary (If your earning is S$10,000 or more) and repay up to 5 years in Equated Monthly Installments(EMIs). Plus, you also have the option of conveniently managing the loan account by online & mobile banking platforms.

    Why choose OCBC Bank Personal Loan?

    With the Fixed Repayment (ExtraCash Loan) from OCBC, you can borrow up to 6 times your monthly salary and repay the loan in EMIs at appealing interest rates. Personal loan from OCBC can be your answer if you’re looking for urgent funds as same day approval is provided when you apply at a banking branch.

    There are two types of personal loans offered by OCBC

    • Cash Loans
    • Study Loans

    Cash Loans – This particular type of loan comes with the options of both flexible repayment and fixed repayment. The flexible repayment is suitable for people who have need of cash from time to time. You can take a loan for a long period or you can choose to opt for a shorter tenure, as per convenience. You can borrow up to an amount which 6 times your monthly salary. The interest that you pay is calculated on the outstanding balance only. Avail easy access to cash through cheques and ATMs. When you apply for the loan at any branch of OCBC Bank, you can get approval for the loan in three minutes.

    Fixed repayment option is generally meant for people who have lesser borrowing needs. The term of the loan can be 1 to 5 years and you can borrow a loan amount which is 6 times your monthly income. Avail the facility of loan approval, the day you applied for it, at all branches of OCBC bank.

    Study Loans – The FRANK Education Loan is meant for pursuing education in local, private or overseas institutions. You can repay the loan amount over a period of 8 years. The loan amount can be S$ 150,000 or 10 times your monthly income.

    The FRANK Tuition Fee Loan helps you to pursue your dreams of higher education. It is specifically designed for NTU, NUS and NIE. You can repay the loan amount over a tenure of 20 years which makes things easy for you financially. You can also avail subsidies of up to 90% of the total fees for your tuition.

    Maximum Funds

    OCBS has broken down the achievable loan amount into easily identifiable slabs as below.

    • Upto 2x loan amount if monthly salary is S$1,667 and above.
    • Upto 4x loan amount if monthly salary is S$2,500 and above.
    • Upto 6x loan amount if monthly salary is S$10,000 and above.

    With such feasible conditions, you not only get the highest loan amount but also ascertain how much you qualify for with the easy to identify slabs.

    Favorable Loan Tenor

    The loan amount can be conveniently repaid in a duration chosen by you that can range from 1 to 5 years. If the monthly budget is limited, a longer tenure helps in burden free repayment. The first EMI debit date is a month after loan disbursal which means no advance payments.

    Expedited Application Processing

    OCBC perhaps maintains the most efficient application processing mechanism in the personal loan segment. Get same day approvals at branches from Monday to Friday with simple documentation.

    Easy Loan Management

    With a slew of apps and utilities, manage your loan account at fingertips. Create service requests, download statements online with OCBC online banking. Loan repayment can be a cakewalk with options such as online/mobile funds transfer, auto debits & cheque deposits.

    Nominal Fees & Charges  

    The processing fee starts at just S$100 and can go upto 1.5% of the approved loan amount. All other fees & charges are communicated upfront with a view to ensure transparency.

    In addition to Fixed Repayment (ExtraCash Loan), OCBC also offers EasiCredit, the unconventional personal loan product which provides the flexibility pay back the loan amount in as per your convenience.

    You qualify for a personal loan from OCBC if

    • Aged 21 years and above
    • Earning an annual income of S$20,000 and above
    • Singapore PRs and Foreigners with annual income of more than S$30,000 are also eligible.

    The interest rates offered by OCBC on personal loan is competitive and on par with market standards. The loan aspirant can enjoy an interest rate as low as 15% depending on the income which can go up to 22% pa.

    Inquire with the customer service or visit the nearest banking branch of OCBC for up to date interest rates.

    Promotions are a great thing for customers to enjoy. Banks roll out several promotional offers that are extremely beneficial and lucrative for the customers. The existing customers of OCBC Bank can currently enjoy a couple of promotional offers from OCBC Bank

    Balance Transfer Promotion allows them to enjoy great flexibility and freedom while repaying the loan amount. You can avail extra cash when you need it by converting the limit that is available on the EasiCredit into cash using Balance Transfer. Moreover, you can also pay off all your outstanding amount on the credit cards of other banks and enjoy the interest savings peacefully.

      3 months 6 months 12 months
    Applied Rates of Interest 0% 0% 0%
    Processing Fee 1.68% 2.5% 4.5%
    Effective Rate of Interest on a per year basis 6.74% 5.19% 4.99%

    Cash on instalments is another great promotion which can be enjoyed by the existing customers of OCBC Bank. Control and your finances with monthly instalments that are fixed and enjoy the peace of mind that you deserve.

    1. What are the minimum requirements to apply for an OCBC Personal Loan?
    2. To be eligible to apply for an OCBC Personal loan, the applicant should be at least 21 years in age and minimum gross income per month should be at least S$1,667.

    3. I am a foreign national working in Singapore. Do I qualify to apply for a personal loan from OCBC?
    4. Foreign nationals and Singapore PR’s are welcome to apply for a personal loan. You must be earning an income of S$30,000 annually.

    5. Is a guarantor or collateral needed for applying for a Personal Loan with OCBC?
    6. No security is required as collateral to the personal loan application.

    7. I would like to calculate EMIs to decide on the tenor before applying for a personal loan. Is there a tool available?
    8. The Personal Loan Calculator under “Finance Tools” tab on the home page helps you in arriving at monthly EMIs by providing basic details. It also contains an amortisation table to help you in deciding the tenor.

    9. I just signed up for a personal loan from OCBC, the bank credited the loan amount into my bank account yesterday. When is the first installment due?
    10. The first EMI is due a month after disbursal of the loan amount.

    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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