Oversea-Chinese Banking Corporation Limited, abbreviated as OCBC Bank, is an openly noted monetary services organisation with its head office in Singapore. Publicly noted, OCBC Bank’s largest investor is the Lee Group of Companies. OCBC wased established by Lee Kong Chian in 1932, and his boy Lee Seng Wee also functioned as chairman. OCBC Bank has assets of more than 224 billion SGD. Based upon Bloomberg, in 2011 OCBC is the number one of the world’s greatest $100 billion possessions banks
OCBC’s Indonesia subsidiary, Bank OCBC NISP, has 630 branches and offices
In 1932, 3 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 decades, the bank broadened its operations and became the biggest bank in South East Asia.
Tips For Getting Personal Loans In Singapore
If you are planning to take a significant loan, do not ever take out a personal loan from a bank a couple of months prior to the major loan. This will impact you.
A crucial aspect is your DSR (Debt Servicing Ratio)when you take a bank loan for a car or home. This determines exactly what portion of your earnings can go into paying back the real estate or vehicle loan, including other overheads (e.g. payment for other individual loans).
In other words, a Debt Servicing Ratio of 50% indicates that all your debt commitment can not go beyond 50% of your income. As a guide, most banks enable 40% Debt Servicing Ratio for a house and 30% for a auto loan
Specific Loans Are Cheaper – Take out a particular loan where you take a renovation loan for your renovation requirements and a vehicle loan for your cars and truck. It is not smart to take out a individual loan for your vehicle or renovation requirements. When it pertains to banks, particular loans’ rate of interest are lower.
They are unsecured where you have nothing to back the loans if you can not repay the banks when it comes to personal loans. Such loans are riskier for the banks and they have a greater rate of interest for personal loans. Due to the nature of such personal loans, it is not a good idea to take personal loans except for emergency situations.