Oversea-Chinese Banking Corporation (OCBC) is one of the biggest banks in Singapore, and is ranked among the world's 50 safest banks by Global Finance Magazine in 2012
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More about OCBC
Oversea-Chinese Banking Corporation, more commonly known as OCBC, is one of the biggest banks in Singapore. In 2012, Bloomberg Markets Magazine named it World’s Strongest Bank, while Global Finance Magazine ranked it among the world’s 50 safest banks. The Chinese Commercial Bank, Ho Hong Bank and Oversea-Chinese Bank were merged in 1932 to become what we know as OCBC today.
We compare loans that can be paid back over terms of between 12 months and 60 months. The effective interest rate (EIR) you will be charged depends on your personal circumstances, and will be between 8.5% p.a. and 14.94% p.a.
This is a representative example of what it may cost: a loan of S$10,000 over 36 months at 4.8% p.a. nominal interest would equate to monthly repayments of S$317.77 and the total cost of the loan that you pay back would be S$11,440.
The effective interest rate (EIR) you will be charged depends on your personal circumstances. Typically the lowest EIR charged by bank ranges between 5.0% p.a. to 20.0% p.a. depending on the choice of banks and products.