Oversea-Chinese Banking Corporation Limited, abbreviated as OCBC Bank, is an openly listed monetary services organisation with its head office in Singapore. Although openly listed, OCBC Bank’s largest investor is the Lee Group of Business. OCBC was founded by Lee Kong Chian in 1932, and his child Lee Seng Wee also functioned as chairman. OCBC Bank has possessions of more than 224 billion SGD. Based upon Bloomberg, in 2011 OCBC is the top of the world’s greatest $100 billion possessions banks
OCBC’s Indonesia subsidiary, Bank OCBC NISP, has 630 workplaces and branches
In 1932, three banks– Chinese Commercial Bank (1912), Ho Hong Bank (1917), and Oversea-Chinese Bank (1919), merged to form Oversea-Chinese Banking Corporation under the management of Tan Ean Kiam and Lee Kong Chian. In the subsequent years, the bank broadened its operations and became the biggest bank in South East Asia.
Recommendation With respect to Securing Personal Loans In Singapore
If you are planning to take a major loan, do never secure a personal loan from a bank a few months prior to the major loan. This will affect you.
When it pertains to personal loans, they are unsecured where you have nothing to back the loans if you can not repay the banks. Such loans are riskier for the banks and they have a greater rate of interest for individual loans. Due to the nature of such individual loans, it is not suggested to take individual loans except for emergency situation situations.
A DSR of 50% suggests your loan repayments, plus repayments of any other loans you have, cannot exceed 50% of your income.Just for reference, a lot of banks enable 40% DSR for a house, and 30% DSR for a cars and truck.
If you are taking a loan from the bank for a home or car, it is very important to note your Debt Servicing Ratio which is a measure of the portion of your routine earnings towards the payment of your vehicle or house loan.
Specific Loans Are Cheaper – Take out a particular loan where you take a renovation loan for your renovation needs and a vehicle loan for your vehicle. It is not smart to get a individual loan for your automobile or renovation needs. When it concerns banks, specific loans’ rates of interest are lower.