Oversea-Chinese Banking Corporation Limited, abbreviated as OCBC Bank, is a publicly 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 decades, the bank expanded its operations and became the largest bank in South East Asia.
OCBC’s Indonesia subsidiary, Bank OCBC NISP, has 630 offices and branches
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 years, the bank broadened its operations and became the largest bank in South East Asia.
Advice When it comes to Taking Personal Loans In Singapore
So a DSR of 50% implies your loan repayments, plus payments of other loans you have, cannot surpass 50% of your income.Just for reference, the majority of banks permit 40% DSR for a home, and 30% DSR for a vehicle.
When it comes to individual loans, they are unsecured where you have nothing to back the loans if you can not pay back the banks. Such loans are riskier for the banks and they have a greater rates of interest for individual loans. Due to the nature of such individual loans, it is not recommended to take individual loans except for emergency situation scenarios.
Particular Loans Are Cheaper – Take out a particular loan where you take a renovation loan for your renovation needs and a vehicle loan for your vehicle. It is not wise to secure a personal loan for your vehicle or renovation requirements. When it comes to banks, particular loans’ rate of interest are lower.
If you are taking a loan from the bank for a house or cars and truck, it is necessary to note your Debt Servicing Ratio which is a measure of the portion of your routine earnings to the repayment of your automobile or home loan.
If you are planning to take a significant loan, do not ever secure a personal loan from a bank a couple of months before the major loan. This will impact you.