Oversea-Chinese Banking Corporation Limited, abbreviated as OCBC Bank, is an openly noted monetary 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 ended up being the biggest bank in South East Asia.
OCBC’s Indonesia subsidiary, Bank OCBC NISP, has 630 offices and branches
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 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.
Suggestion When it comes to Obtaining Personal Loans In Singapore
Never ever take individual loans two to three months before another significant loan. Simply puts, no individual loans if you’re planning to purchase a vehicle, house, etc.
If you are taking a loan from the bank for a home or car, it is essential to note your Debt Servicing Ratio which is a measure of the portion of your regular income towards the repayment of your vehicle or home loan.
So a DSR of 50% means your loan repayments, plus payments of any other loans you have, cannot go beyond 50% of your income.Just for reference, the majority of banks allow 40% DSR for a home, and 30% DSR for a cars and truck.
Particular Loans Are Cheaper – Take out a specific loan where you take a renovation loan for your renovation requirements and a auto loan for your vehicle. It is not smart to get a individual loan for your cars and truck or renovation needs. When it comes to banks, particular loans’ rate of interest are lower.
They are unsecured where you have nothing to back the loans if you can not repay the banks when it comes to personal loans. Such loans are riskier for the banks and they have a higher rates of interest for individual loans. Due to the nature of such personal loans, it is not advisable to take individual loans except for emergency scenarios.