Oversea-Chinese Banking Corporation Limited, abbreviated as OCBC Bank, is a publicly noted financial 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), 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 ended up being the largest bank in South East Asia.
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 expanded its operations and became the largest bank in South East Asia.
Idea Regarding Taking Personal Loans In Singapore
When it concerns individual 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 interest rate for personal loans. Due to the nature of such personal loans, it is not a good idea to take personal loans except for emergency situation circumstances.
When you take a bank loan for a car or home, a essential element is your DSR (Debt Servicing Ratio ). This measures exactly what portion of your income can go into repaying the real estate or auto loan, including other overheads (e.g. repayment for other personal loans).
Do not ever take out a individual loan from a bank a few months prior to the significant loan if you are planning to take a major loan. This will affect you.
Specific 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 wise to get a personal loan for your cars and truck or renovation requirements. When it concerns banks, specific loans’ rates of interest are lower.
A DSR of 50% suggests your loan payments, plus payments of any other loans you have, can’t surpass 50% of your income.Just for reference, a lot of banks permit 40% DSR for a home, and 30% DSR for a vehicle.