Oversea-Chinese Banking Corporation Limited, abbreviated as OCBC Bank, is an openly noted financial services organisation with its head office in Singapore. 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 leadership of Tan Ean Kiam and Lee Kong Chian. In the subsequent years, the bank expanded its operations and became the biggest bank in South East Asia.
OCBC’s Indonesia subsidiary, Bank OCBC NISP, has 630 branches and workplaces
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 broadened its operations and ended up being the largest bank in South East Asia.
Suggestion With respect to Securing Personal Loans In Singapore
Specific Loans Are Cheaper – Take out a particular loan where you take a renovation loan for your renovation requirements and a car loan for your automobile. It is not wise to take out a individual loan for your automobile or renovation needs. When it comes to banks, particular loans’ rate of interest are lower.
So a DSR of 50% indicates your loan repayments, plus payments of any other loans you have, can’t go beyond 50% of your income.Just for recommendation, many banks allow 40% DSR for a home, and 30% DSR for a car.
Do not ever take out a individual loan from a bank a couple of months before the significant loan if you are planning to take a major loan. This will affect you.
They are unsecured where you have 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 greater rate of interest for individual loans. Due to the nature of such personal loans, it is not suggested to take individual loans except for emergency situation scenarios.
If you are taking a loan from the bank for a house or cars and truck, it is important to note your Debt Servicing Ratio which is a procedure of the portion of your regular income towards the payment of your car or house loan.