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 ended up being the largest 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), 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.
Idea With regard to Acquiring Personal Loans In Singapore
If you are taking a loan from the bank for a home or vehicle, it is important to note your Debt Servicing Ratio which is a step of the portion of your regular income to the payment of your car or house loan.
When it comes to personal 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 a good idea to take individual loans except for emergency situations.
In other words, a Debt Servicing Ratio of 50% implies that your debt responsibility can not exceed 50% of your income. As a guide, the majority of banks permit 40% Debt Servicing Ratio for a home and 30% for a car loan
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 car. It is not a good idea to take out a personal loan for your cars and truck or renovation needs. When it comes to banks, specific loans’ rates of interest are lower.
Do not ever take out a personal loan from a bank a few months prior to the significant loan if you are planning to take a major loan. This will impact you.