Oversea-Chinese Banking Corporation Limited, abbreviated as OCBC Bank, is an openly noted financial services organisation with its head workplace in Singapore. Although publicly noted, OCBC Bank’s biggest investor is the Lee Group of Companies. OCBC wased established by Lee Kong Chian in 1932, and his kid Lee Seng Wee also functioned as chairman. OCBC Bank has properties of more than 224 billion SGD. Based upon Bloomberg, in 2011 OCBC is the top of the world’s strongest $100 billion possessions banks
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 leadership of Tan Ean Kiam and Lee Kong Chian. In the subsequent years, the bank expanded its operations and became the biggest bank in South East Asia.
Idea When it comes to Securing Personal Loans In Singapore
Never take personal loans 2 to 3 months before another major loan. Simply puts, no individual loans if you’re meaning to buy a car, home, and so on.
If you are taking a loan from the bank for a home or car, it is necessary to note your Debt Servicing Ratio which is a step of the percentage of your routine income towards the payment of your vehicle or house loan.
So a DSR of 50% suggests your loan payments, plus payments of other loans you have, can’t go beyond 50% of your income.Just for reference, most banks allow 40% DSR for a house, and 30% DSR for a vehicle.
Particular Loans Are Cheaper – Take out a specific loan where you take a renovation loan for your renovation requirements and a vehicle loan for your vehicle. It is not a good idea to take out a individual loan for your automobile or renovation requirements. When it pertains to banks, particular loans’ interest rates are lower.
When it comes to individual loans, they are unsecured where you have absolutely nothing to back the loans if you can not repay 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 personal loans, it is not advisable to take individual loans except for emergency situation situations.