Oversea-Chinese Banking Corporation Limited, abbreviated as OCBC Bank, is a publicly listed monetary services organisation with its head office in Singapore. Openly listed, OCBC Bank’s biggest investor is the Lee Group of Business. OCBC was founded by Lee Kong Chian in 1932, and his child Lee Seng Wee likewise worked 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 assets banks
OCBC’s Indonesia subsidiary, Bank OCBC NISP, has 630 workplaces 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 management of Tan Ean Kiam and Lee Kong Chian. In the subsequent decades, the bank broadened its operations and ended up being the biggest bank in South East Asia.
Suggestion For Obtaining Personal Loans In Singapore
Never ever take personal loans two to three months before another major loan. Simply puts, no individual loans if you’re planning to buy a vehicle, house, etc.
If you are taking a loan from the bank for a home or automobile, it is important to note your Debt Servicing Ratio which is a procedure of the percentage of your routine income to the repayment of your automobile or house loan.
So a DSR of 50% implies your loan repayments, plus payments of any other loans you have, cannot go beyond 50% of your income.Just for reference, a lot of banks allow 40% DSR for a home, and 30% DSR for a cars and truck.
Specific 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 wise to secure a individual loan for your car or renovation needs. When it comes to banks, particular loans’ rates of interest are lower.
When it comes to personal loans, they are unsecured where you have absolutely 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 interest rate for individual loans. Due to the nature of such individual loans, it is not advisable to take individual loans except for emergency situation circumstances.