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OCBC Home Loan Review: A Mortgage Worth Considering?

OCBC is one of better home lenders in Singapore.

OCBC Home Loan Review: A Mortgage Worth Considering?

OCBC is one of better home lenders in Singapore.


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  • Individuals seeking competitive home loan interest rates
  • Borrowers seeking to get or refinance their home loan of at least S$300,000 for Private Properties and S$200,000 for HDB


  • Borrowers seeking to refinance home loan of less than S$300,000 for Private Properties or S$200,000 for HDB Flats

OCBC is worth considering when looking for a home loan due to its strong track record and competitive interest rates. As the longest established bank in Singapore, OCBC is a major lender in the country. Additionally, the bank generally offers competitive fixed rate for home loans in Singapore.

Summary of OCBC's Home Loans
Competitive fixed rate loans
Minimum loan principal: S$200,000 for HDBs and S$300,000 for private homes
Loan approval as soon as within 1 hour

Table of Contents

What Makes OCBC Stand Out to Borrowers

OCBC's status as a long-time major bank in Singapore and its competitive interest rates make it worth considering as a source of home loans for prospective homeowners. OCBC generally offered very competitive introductory floating rates and fixed home loan rates on par with other local banks.

Ultimately, the total cost of an OCBC home loan is often among the cheapest available and worth considering for individuals seeking home loans. At any rate, housing lenders frequently change their rates, so it is imperative for borrowers to compare the newest interest rates regularly.

OCBC HDB and Private Home Loans Interest Rates as of January 2024

OCBC offers some of the lowest introductory floating interest rates for HDB flats. Its fixed home loan introductory interest rates are on par with other local banks. The table below details the current interest rates for floating and fixed home loans from OCBC for both HDB and private homes.

OCBC 3M Compounded SORAOCBC Fixed
(for completed properties only)
Year 1 Interest3M Compounded SORA + 0.65%3.75% (Fixed)
Year 2 Interest3M Compounded SORA + 0.65%3.75% (Fixed)
Year 3 Interest3M Compounded SORA + 0.80%3M Compounded SORA + 1.00%
Year 4 and thereafter interest3M Compounded SORA + 1.00%3M Compounded SORA + 1.00%
Lock In Period1 Year2 Years

OCBC Refinancing Home Loan Interest Rates as of January 2024

OCBC is a great option for home loan refinancing. So far, the bank has offered some of the best fixed rates for home loan refinancing. OCBC's offerings for floating rate loans are also among the best available to borrowers in Singapore. Still, we advise prospective home buyers to compare real-time interest rates when choosing a home loan in order to get the best deal, as rates tend to change frequently.

The table below show OCBC's home loan refinancing rates for HDB and private residences.

Bank1st Year InterestLock-in Period
OCBC 3M SORA3M Compounded SORA + 0.65%1 year
OCBC Fixed3.75%2 years

How to Apply for an OCBC Home Loan: Application Process

Find the Cheapest Home Loans in Singapore

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Applying for a mortgage is a complicated process and typically requires several steps and more than a dozen forms. We suggest that individuals interested in OCBC's home loans reach out to our home loan broker partner by clicking one of the "Check Rates" buttons on this page.

Applicants must provide personal identification, income and personal debt documentation. Individuals seeking home loans to purchase property must submit their option to purchase the property. Those seeking to refinance their home loan must submit a statement from their current lender showing details of their outstanding debt.

For proof of income, salaried employees must provide their latest payslip, CPF contribution statement for last 6 months or latest tax income statement. Self-employed and commission based individuals must submit their last 12 months' CPF contribution history.

  • NRIC
  • Income documentation
  • Monthly credit card bills
  • Loan statements

How Do OCBC's Mortgage Rates Compare to Other Bank's Home Loan Rates?

We've mentioned several times in this article that interest rates for housing loans change frequently in Singapore. Therefore, it is essential to review available rates before applying for a home loan. The table below lists interest rates for some of Singapore's top banks.

Bank1st Yr InterestLock-in PeriodApply Now
No offerings at this time

Home mortgage rates showcased on this page are derived from the mortgage loan aggregator Redbrick Mortgage Advisory, our mortgage loan partner.

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