Oversea-Chinese Banking Corporation Limited, abbreviated as OCBC Bank, is a publicly listed monetary services organisation with its head office in Singapore. In 1932, 3 banks– Chinese Commercial Bank (1912), Ho Hong Bank (1917), and Oversea-Chinese Bank (1919), combined to form Oversea-Chinese Banking Corporation under the management of Tan Ean Kiam and Lee Kong Chian. In the subsequent decades, the bank broadened its operations and became the largest bank in South East Asia.
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), combined to form Oversea-Chinese Banking Corporation under the management of Tan Ean Kiam and Lee Kong Chian. In the subsequent decades, the bank expanded its operations and became the biggest bank in South East Asia.
Recommendation With regards to Acquiring Personal Loans In Singapore
They are unsecured where you have absolutely nothing to back the loans if you can not pay back the banks when it comes to individual loans. Such loans are riskier for the banks and they have a higher interest rate for personal loans. Due to the nature of such personal loans, it is not suggested to take personal loans except for emergency circumstances.
Particular Loans Are Cheaper – Take out a particular loan where you take a renovation loan for your renovation needs and a car loan for your car. It is not smart to secure a individual loan for your vehicle or renovation needs. When it comes to banks, specific loans’ rate of interest are lower.
To puts it simply, a Debt Servicing Ratio of 50% indicates that your debt obligation can not go beyond 50% of your earnings. As a guide, many banks enable 40% Debt Servicing Ratio for a house and 30% for a car loan
If you are taking a loan from the bank for a house or vehicle, it is essential to note your Debt Servicing Ratio which is a measure of the percentage of your routine income towards the repayment of your car or home loan.
Never ever take individual loans 2 to 3 months before another significant loan. To puts it simply, no individual loans if you’re intending to buy a car, home, etc.