Oversea-Chinese Banking Corporation Limited, abbreviated as OCBC Bank, is a publicly listed 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), combined 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 largest bank in South East Asia.
OCBC’s Indonesia subsidiary, Bank OCBC NISP, has 630 branches and workplaces
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 management 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.
Recommendation For Taking Personal Loans In Singapore
Particular Loans Are Cheaper – Take out a particular loan where you take a renovation loan for your renovation requirements and a vehicle loan for your car. It is not smart to get a individual loan for your vehicle or renovation requirements. When it comes to banks, particular loans’ interest rates are lower.
Do not ever take out a personal loan from a bank a few months before the significant loan if you are planning to take a major loan. This will affect you.
If you are taking a loan from the bank for a house or car, it is necessary to note your Debt Servicing Ratio which is a procedure of the portion of your routine earnings towards the payment of your cars and truck or home loan.
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 rates of interest for personal loans. Due to the nature of such individual loans, it is not suggested to take personal loans except for emergency situation scenarios.
Simply puts, a Debt Servicing Ratio of 50% means that all your debt responsibility can not surpass 50% of your earnings. As a guide, many banks enable 40% Debt Servicing Ratio for a house and 30% for a auto loan.