OCBC Home Loan

Compare OCBC home loans against offers from other leading home loan providers in Singapore

About the provider

OCBC Bank was born out of the Great Depression through the consolidation of three banks in 1932 - the Chinese Commercial Bank Ltd. (incorporated in 1912), the Ho Hong Bank Ltd. (incorporated in 1917) and the Oversea-Chinese Bank Ltd. (incorporated in 1919). The bank offers services, including the OCBC home loan, in areas such as Singapore, Malaysia, Indonesia and Greater China.
The banking conglomerate operates its banking business as OCBC Bank, Bank OCBC NISP, OCBC Wing Hang China, OCBC Al-Amin, and Bank of Singapore, through which products such as OCBC loan, credit cards, and savings accounts are being offered in more than 18 countries and territories. The company also has strategic stakes in other financial services businesses operating under independent brands such as Great Eastern for insurance, Lion Global Investors for asset management: and OCBC Securities and OCBC Sekuritas for brokerage.
OCBC Bank, the second-largest banking group in Singapore by total assets, is listed on the SGX-ST as one of the largest listed companies in Singapore by market capitalization. The company is also one of the largest listed banks in Southeast Asia by market capitalization and has more than 29,000 employees globally.

Why should I choose OCBC home loan?

OCBC paves the way for Singaporeans to buy their dream homes with the following key benefits: 

  • Get up to 80% financing
  • Enjoy a combination of 3 months SIBOR and variable rate in its pricing packages without switching fees
  • Avail attractive interest rates
  • Inquire from dedicated mortgage specialists and customer care officers 

What benefits does OCBC home loan provide?

The OCBC housing loan can be used for purchases of public housing flats from the Housing Development Board (HDB) of Singapore, as well as private properties.
For the OCBC home loan to be used for buying new assets, the customer can borrow from S$100,000 to 80% of valuation for HDB flats, and from S$200,000 to 80% of the cost for private properties. For the OCBC home loan to be used for refinancing an existing home loan, the customer can borrow from S$100,000 for HDB flats, and from S$200,000 for private properties. In all refinancing-related cases, the maximum cap is set at 100% of the property’s valuation or the outstanding loan, whichever is lower. In all cases, it is best to use the OCBC home loan calculator to get a clearer picture of what to expect from the home loan.
There are four options for the OCBC home loan that can be secured: the fixed deposit-linked rates, the short-term fixed interest rates, the SIBOR-dependent rates, and the variable interest rates. Home loan clients, regardless of the type of loan arranged, can also apply for the OCBC renovation loan, which grants disbursement in one working day after approval.

OCBC home loan: Fixed deposit-linked rates

Through this option, rates are pegged at 15-month fixed deposit rate at 1.40% during the first year and 1.50% for succeeding years until the completion of the loan tenure. Customers can convert into other packages if the fixed deposit rate increases. 

OCBC home loan: Short-term fixed interest rates

In this home loan, the interest rates are fixed and guaranteed for one or two years at 2.38%, depending on the borrower. While this option results in higher interest rates, the monthly installments are fixed and will not change within the years when the OCBC home loan interest rate is set. Customers are further protected against rates fluctuations from the first two years of the loan. 

OCBC home loan: SIBOR-dependent rates

For this option, the interest rate is pegged to SIBOR, or the Singapore Interbank Offered Rate, plus a set percentage rate. SIBOR is a daily reference rate that fluctuates based on the interest rates that banks set when they lend unsecured funds to other banks in the Singapore wholesale money market. The interest rate under this OCBC home loan option will be reviewed every three months.

Customers can choose between 3months SIBOR plus 0.50% for the first year or 1month SIBOR plus 0.55% for the first year

OCBC home loan: Variable interest rates

Customers of this option can choose between different lock-in periods or a time during which a penalty will be imposed on customers who opt to refinance the loan. For packages with no lock-in period, the customer can select to refinance the housing loan package anytime

How do I apply for OCBC home loan?

OCBC home loans are available for everyone aiming to own private properties. For HDB purchase, you might want to consider the following: 


  • Applicants must be a Singaporean or a Singapore Permanent Resident
  • Should be at least 21 years old
  • Should be within the set income ceiling for the flat to be purchase
  • Should not own any other property abroad or in Singapore or should not have disposed any within the last 30 months

Documents required:

For employed individuals: 

  • Latest three months’ payslips or
  • Letter from the employer that confirm salaries for the month of application. The letter should contain company stamp and the officer’s name, signature and designation

For self-employed individuals: 

  • Latest Notice of Assessment (NOA) or Statement of Annual Accounts duly certified by an audit firm 
  • Valid ACRA or Accounting and Corporate Regulatory Authority business profile
  • Valid license of trade
  • Statutory declaration of average gross monthly income reflecting the last 12 months including the month of application

For part-time workers: 

  • Latest 12 months’ payslip or
  • Letter from the employer stating salaries and containing company stamp and certifying officer’s name, signature and designation

For retired individuals with a pension: 

  • Latest pay slip for the last three months from the previous employer indicating the total premium received or
  • Letter from former employer bearing information on received pension and certifying officer’s name, signature and designation

What other products does OCBC offer?

OCBC also provides the following products: 

  • Credit cards – OCBC credit cards offer 6% cash back on dining every weekend, 3% rebate on online spending and up to 23% savings on fuel. Credit card holders can also enjoy other benefits like split payments with 0% interest and up to 1% rebate on all types of spending 
  • Loans – Loan packages from OCBC lets you access to cash via mobile banking, ATM and cheques. You can also convert available credit limit to interest-free cash with a minimum monthly repayment of $50 or three percent of the outstanding balance
  • Insurance – Personal and family insurance plans from OCBC protects you and your family in times of accidents and needs.
Last update on Nov 02, 2020