Oversea-Chinese Banking Corporation Limited, abbreviated as OCBC Bank, is an openly noted financial services organisation with its head office in Singapore. The “Oversea-Chinese” use leads many to think wrongly that the bank’s name is misspelled, but this is the appropriate standard spelling. Although it is asserted that this is the right spelling, “oversea” instead of “abroad”, which is the appropriate use of the word in generic English, sounds uncomfortable and clumsy to native English speakers. The bank’s international network has grown to comprise subsidiaries, branches, and representative offices in 18 countries and areas. It has retail banking subsidiaries in Malaysia, Indonesia, Hong Kong, and China, and branches in China, Hong Kong, Japan, Australia, the UK and US. OCBC’s Indonesia subsidiary, Bank OCBC NISP, has 630 offices and branches
OCBC’s Indonesia subsidiary, Bank OCBC NISP, has 630 workplaces and branches
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 expanded its operations and ended up being the biggest bank in South East Asia.
Suggestion When it comes to Acquiring Personal Loans In Singapore
Never ever take individual loans two to three months prior to another significant loan. In other words, no individual loans if you’re meaning to buy a car, house, etc.
If you are taking a loan from the bank for a house or vehicle, it is necessary to note your Debt Servicing Ratio which is a step of the percentage of your regular income towards the payment of your car or home loan.
In other words, a Debt Servicing Ratio of 50% suggests that your debt obligation can not exceed 50% of your income. As a guide, many banks allow 40% Debt Servicing Ratio for a home and 30% for a vehicle loan
Specific Loans Are Cheaper – Take out a particular loan where you take a renovation loan for your renovation needs and a auto loan for your automobile. It is not wise to take out a personal loan for your car or renovation requirements. When it comes to banks, particular loans’ rate of interest are lower.
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 higher rate of interest for personal loans. Due to the nature of such individual loans, it is not advisable to take personal loans except for emergency scenarios.