Oversea-Chinese Banking Corporation Limited, abbreviated as OCBC Bank, is a publicly listed monetary services organisation with its head workplace 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 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.
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 management of Tan Ean Kiam and Lee Kong Chian. In the subsequent years, the bank expanded its operations and became the largest bank in South East Asia.
Suggestion Regarding Obtaining Personal Loans In Singapore
Never take personal loans 2 to 3 months before another major loan. In other words, no individual loans if you’re intending to buy a vehicle, house, etc.
When you take a bank loan for a car or home, a crucial element is your DSR (Debt Servicing Ratio ). This measures what portion of your income can enter into paying back the housing or auto loan, including other overheads (e.g. payment for other personal loans).
So a DSR of 50% suggests your loan payments, plus payments of other loans you have, cannot exceed 50% of your income.Just for referral, many banks permit 40% DSR for a home, and 30% DSR for a car.
Specific Loans Are Cheaper – Take out a specific loan where you take a renovation loan for your renovation needs and a auto loan for your car. It is not wise to take out a personal loan for your automobile or renovation requirements. 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 personal loans. Due to the nature of such individual loans, it is not recommended to take personal loans except for emergency situation scenarios.