Oversea-Chinese Banking Corporation Limited, abbreviated as OCBC Bank, is a publicly listed monetary services organisation with its head office in Singapore. Although openly listed, OCBC Bank’s biggest investor is the Lee Group of Companies. OCBC wased established by Lee Kong Chian in 1932, and his boy Lee Seng Wee likewise worked as chairman. OCBC Bank has assets of more than 224 billion SGD. Based upon Bloomberg, in 2011 OCBC is the number one of the world’s greatest $100 billion assets banks
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 ended up being the largest bank in South East Asia.
Recommendation When it comes to Getting Personal Loans In Singapore
If you are planning to take a significant loan, do never secure a personal loan from a bank a couple of months prior to the major loan. This will impact you.
When you take a bank loan for a automobile or house, a essential element is your DSR (Debt Servicing Ratio ). This measures exactly what percentage of your income can go into repaying the real estate or vehicle loan, including other overheads (e.g. payment for other individual loans).
Simply puts, a Debt Servicing Ratio of 50% implies that your debt responsibility can not go beyond 50% of your earnings. As a guide, a lot of banks enable 40% Debt Servicing Ratio for a home and 30% for a auto loan
Particular Loans Are Cheaper – Take out a specific loan where you take a renovation loan for your renovation requirements and a car loan for your automobile. It is not smart to take out a personal loan for your cars and truck or renovation requirements. When it comes to banks, particular loans’ rates of interest are lower.
They are unsecured where you have nothing to back the loans if you can not pay back the banks when it comes to individual loans. 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 recommended to take personal loans except for emergency situation situations.