The OCBC Mortgage offers a seamless path to homeownership. Whether you’re purchasing an HDB flat or a private property, this loan is tailored to meet your financial needs with speed, flexibility, and eco-conscious options. Let’s dive into the process and benefits of this mortgage.
Eligibility requirements
✅ Must be at least 21 years old.
✅ Minimum loan amount of S$200,000 for HDB flats.
✅ Minimum loan amount of S$300,000 for private properties.
✅ Singaporean, Permanent Resident, or foreigner with valid documentation.
Required documents
✅ Completed application form via OCBC website or app.
✅ Proof of income (e.g., CPF contribution or payslips).
✅ Valid identification document (e.g., NRIC or passport).
✅ Supporting property purchase documents.
Approval is subject to the submission of all necessary documents. The bank may request additional paperwork during the evaluation process.
How to apply for the OCBC Mortgage?
Applying for the OCBC Mortgage is quick and straightforward. Start by accessing the OCBC website or mobile app, where you’ll find a user-friendly application form. Leverage tools like Singpass for instant data retrieval, speeding up the process significantly.
Fill out the form accurately, ensuring that all personal and financial details are correct. Attach the required documents, such as proof of income and property-related paperwork. Submit your application and await approval, which can be processed within 60 minutes for eligible candidates.
Once approved, you’ll work with a mortgage specialist to finalize the loan terms and disbursement schedule. If denied, you’ll have the opportunity to address feedback and reapply when appropriate.
Paying your bills
Repaying your OCBC Mortgage is designed to be flexible and convenient. Payments can be made through GIRO, the OCBC mobile app, or online banking. To avoid late fees, consider setting up automatic payments and syncing your repayment schedule with your monthly income. OCBC also allows for partial prepayments of up to 50% of the loan amount within the first two years, enabling you to save on interest.
Fees and Costs
The OCBC Mortgage includes competitive interest rates, flexible fixed or variable rate packages, and additional costs to consider:
Processing fees and administrative charges.
🔴Early repayment fees if applicable.
🔴Late payment penalties for missed instalments.
Consult with an OCBC mortgage specialist to understand the full breakdown of costs and choose the best package for your needs.
A general overview
The OCBC Mortgage simplifies the home loan process, offering tailored solutions for every homebuyer. Its quick approval times, flexible payment options, and eco-conscious initiatives make it a standout choice for those looking to secure their dream home. The Eco-Care Home Loan, for example, supports sustainable living while offering financial benefits, though it may not suit every borrower’s needs.
For a S$500,000 loan over 20 years, at an interest rate of 2.8% per annum, you can expect monthly repayments of approximately S$2,700. Planning your budget with tools like the OCBC Affordability Calculator can ensure that your mortgage fits seamlessly into your financial goals.
A tip for your pocket
To make the most of your OCBC Mortgage, consider prepaying when possible to reduce your overall interest costs. Align your payments with your monthly income and take advantage of fixed-rate packages during the lock-in period for financial stability.
The Eco-Care Home Loan option also allows you to invest in green upgrades for long-term savings.
Ready to own your home?
Click below to explore the OCBC Mortgage options and take the first step toward owning your dream home. A dedicated team of specialists is ready to guide you through the process with ease and confidence.