Oversea-Chinese Banking Corporation Limited, abbreviated as OCBC Bank, is a publicly noted monetary services organisation with its head office in Singapore. Although openly noted, OCBC Bank’s biggest investor is the Lee Group of Business. OCBC wased established by Lee Kong Chian in 1932, and his son Lee Seng Wee also acted as chairman. OCBC Bank has properties of more than 224 billion SGD. Based on Bloomberg, in 2011 OCBC is the top of the world’s strongest $100 billion properties 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), 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.
Tips With respect to Getting Personal Loans In Singapore
If you are preparing to take a significant loan, do never take out a individual loan from a bank a couple of months prior to the significant loan. This will affect you.
When you take a bank loan for a automobile or home, a crucial factor is your DSR (Debt Servicing Ratio ). This determines what percentage of your income can enter into paying back the real estate or auto loan, consisting of other overheads (e.g. repayment for other personal loans).
In other words, a Debt Servicing Ratio of 50% suggests that your debt commitment can not exceed 50% of your income. As a guide, a lot of banks enable 40% Debt Servicing Ratio for a home and 30% for a car loan
Particular Loans Are Cheaper – Take out a particular loan where you take a renovation loan for your renovation needs and a auto loan for your vehicle. It is not wise to secure a individual loan for your cars and truck or renovation needs. When it concerns banks, particular loans’ rate of interest are lower.
When it comes to individual 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 personal loans. Due to the nature of such personal loans, it is not recommended to take individual loans except for emergency situation situations.