Oversea-Chinese Banking Corporation Limited, abbreviated as OCBC Bank, is an openly noted financial services organisation with its head workplace in Singapore. Although publicly noted, OCBC Bank’s biggest investor is the Lee Group of Companies. OCBC wased established by Lee Kong Chian in 1932, and his son Lee Seng Wee likewise worked 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 assets 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 leadership 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 Regarding Obtaining Personal Loans In Singapore
If you are preparing to take a major loan, do never secure a personal loan from a bank a couple of months before the major loan. This will affect you.
If you are taking a loan from the bank for a home or car, it is important to note your Debt Servicing Ratio which is a step of the percentage of your regular earnings towards the repayment of your vehicle or house loan.
In other words, a Debt Servicing Ratio of 50% indicates that all your debt responsibility can not go beyond 50% of your income. As a guide, the majority of banks allow 40% Debt Servicing Ratio for a house and 30% for a vehicle loan
Particular Loans Are Cheaper – Take out a specific loan where you take a renovation loan for your renovation needs and a vehicle loan for your car. It is not wise to take out a individual loan for your cars and truck or renovation needs. When it pertains to banks, particular loans’ rates of interest are lower.
When it pertains to individual loans, they are unsecured where you have nothing to back the loans if you can not repay the banks. Such loans are riskier for the banks and they have a higher interest rate for individual loans. Due to the nature of such individual loans, it is not advisable to take individual loans except for emergency scenarios.