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OCBC Home Loans

Find a home loan package with one of Singapore's leading banks and you could be approved within an hour.

With so many different types of home loans available in the market, it’s easy to feel overwhelmed as a home-buyer. But OCBC can help you make an important decision that little bit easier thanks to its easy-to-understand home loans, which are tailored to meet different needs.

Read on to find out what you need to know about OCBC Home Loans.

OCBC’s lowest rate for…

  • Fixed-rate loan. The lowest fixed-rate loans come with a 1.55% p.a. interest rate and lets you borrow up to 75% of the property’s value.
  • Variable-rate loan. Floating-rate loans start from as low as 1.5% p.a. interest rate and lets you borrow up to 75% of the property’s value.

Compare OCBC home loans

Compare some of the home loans offered by OCBC in the table below.

Year 1Year 2Year 3Thereafter
OCBC 2 year fixed-rate1.55% p.a.1.55% p.a.1.75%1.95% p.a.
OCBC mortgage board rates*1.50% p.a.1.50% p.a.1.75%1.95% p.a.
3-month or 6-month SIBOR**3M/6M SIBOR








*The current mortgage board rate pricing packages are available with mortgage board rates at 1.50%.
**For floating rates that are linked to SIBOR, the interest rate will be the SIBOR, plus a fixed spread. SIBOR rates are currently at 0.43675 for 3-month and 0.62450 for 6-month, as of 15 July 2020. Payments can increase or decrease based on SIBOR rates.

OCBC lender profile

OCBC Bank is known as one of the Big 3 banks in Singapore, a leading provider of premium banking services in Singapore. It was named the World’s Best Consumer Bank by international financial publication Global Finance in 2019.

In addition to home loans, the bank offers a full suite of consumer banking products including savings accounts, insurance and a brokerage arm. Plus, you can compare credit cards too.

OCBC home loan features

OCBC has multiple home loans for investors and owner-occupiers, with fixed and variable rates.

The minimum loan amount starts from S$200,000 to 75% of the valuation, for HDB flats, or from S$300,000 to 75% of valuation for private properties.

Deposit sizeYou can borrow up to 75% with some OCBC home loans.
Flexibility to switch when interest rate risesShould the mortgage board rate on your account be increased, you will have the flexibility to switch to another OCBC home loan without extra fees.
Dedicated specialistsOCBC offers dedicated home loan specialists and support to help you complete the mortgage application process. The lender also has online chat support.
No prepayment penaltyFor some of the home loan packages, you will be allowed to prepay up to 50% of the loan amount within the lock-in period.

How do I apply for an OCBC home loan

OCBC makes it straightforward to apply for a home loan deal – you can submit an application on OCBC’s website in just 10 minutes using MyInfo. Simply pick the type of finance you need, select the loan package and submit any required documents. It could take less than 60 minutes for your home loan to be approved.

Be sure to check the eligibility criteria before you lodge an application.

Eligibility requirements

Each OCBC offering has specific eligibility criteria, but some will apply to all products. For example:

  • Age. You must be over 18 years of age.
  • Employment. You should have a regular source of income.
  • Purchase requirements. If you’re buying a HDB flat, you’d also need to meet HDB’s purchase requirements.

Documents needed

When you apply for a home loan with OCBC you are required to provide certain information so make sure you have all your documents ready before you apply. The documents you will be expected to provide for a home loan application typically includes:

  • Identification documents. You will need identification such as your NRIC or passport.
  • Proof of income documents. Recent 3-month payslips, as well as your latest Income Tax Notice of Assessment or 12 months CPF contributions.
  • Asset and liability documents. You need to provide documents showing your current assets (e.g. savings accounts, investments) and liabilities (e.g. any outstanding debt).
  • Property information. Option-to-purchase, sales and purchase documents, as well as property valuation report.

Frequently asked questions

What is the interest for late payments?

If you are late on your monthly instalments, interest or any repayments for your home loan, you will have to pay extra interest at the rate of 4.75% a year above OCBC’s prime lending rate on the overdue amounts.

Am I able to make a partial repayment of the loan?

You may be allowed to make a partial repayment under the following conditions:

  • You must give us at least one month’s written notice that you want to make a partial repayment, or pay one month’s interest instead of giving us notice.
  • If you make a partial repayment within the prepayment period, you must pay a prepayment fee.
  • The amount of the partial repayment must not be less than S$5,000 and any amounts over this must be in multiples of S$1,000.
  • You must pay all legal fees and charges in connection with paying off all or part of the loan.

Is there a fee if I would like to reprice my OCBC home loan?

Yes. It will be S$1,000 or as advised by your Customer Care Officer.

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