Oversea-Chinese Banking Corporation Limited, abbreviated as OCBC Bank, is a publicly noted financial services organisation with its head office in Singapore. Publicly listed, OCBC Bank’s biggest investor is the Lee Group of Companies. OCBC wased established by Lee Kong Chian in 1932, and his child Lee Seng Wee also served 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 properties banks
OCBC’s Indonesia subsidiary, Bank OCBC NISP, has 630 branches and offices
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 expanded its operations and ended up being the biggest bank in South East Asia.
Recommendation Regarding Obtaining Personal Loans In Singapore
Never take individual loans two to three months prior to another major loan. Simply puts, no individual loans if you’re intending to purchase a car, home, etc.
If you are taking a loan from the bank for a house or vehicle, it is important to note your Debt Servicing Ratio which is a step of the portion of your regular income towards the repayment of your vehicle or home loan.
To puts it simply, a Debt Servicing Ratio of 50% suggests that your debt commitment can not exceed 50% of your income. As a guide, most banks permit 40% Debt Servicing Ratio for a home and 30% for a auto loan
Loans Get Cheaper As the Loan Gets More Specific – So when it comes to getting loans, be as particular as you can. Do not take a personal loan to refurbish your house, not when there’s a renovation loan bundle. Don’t take a personal loan to spend for your education, when there’s an education loan bundle.
In order to encourage you, particular loan bundles frequently have lower interest rates. Individual loans tend to charge interest of about 6% to 8%, whereas specific loans (renovation loans, education loans, etc).
The majority of individual loans are unsecured. As in, there’s no security behind them. And because the providing banks have no security, they’ll compensate by boosting rate of interest.
At any time you aren’t certain you’ll repay the loan, that suggests you must never take a personal loan without knowledge of exactly.
Do not use individual loans as alternative business loans. Don’t use them to trade on Forex. Don’t utilize them to purchase high risk equities. You must only take a individual loan to relieve capital problems.