Oversea-Chinese Banking Corporation Limited, abbreviated as OCBC Bank, is a publicly listed monetary services organisation with its head office in Singapore. 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 broadened its operations and became the biggest bank in South East Asia.
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 management 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.
Tips When it comes to Taking Personal Loans In Singapore
Do not ever take out a individual loan from a bank a few months prior to the significant loan if you are preparing to take a significant loan. This will affect you.
When you take a bank loan for a automobile or house, a crucial aspect is your DSR (Debt Servicing Ratio ). This measures exactly what portion of your earnings can go into repaying the housing or car loan, including other overheads (e.g. payment for other individual loans).
To puts it simply, a Debt Servicing Ratio of 50% suggests that your debt obligation can not exceed 50% of your income. As a guide, many banks enable 40% Debt Servicing Ratio for a house and 30% for a vehicle loan
Particular Loans Are Cheaper – Take out a particular loan where you take a renovation loan for your renovation needs and a vehicle loan for your vehicle. It is not a good idea to get a individual loan for your automobile or renovation requirements. When it concerns banks, specific loans’ interest rates 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 interest rate for individual loans. Due to the nature of such personal loans, it is not suggested to take individual loans except for emergency circumstances.