OCBC Home Loans

OCBC Home Loan Rates (December 2023)
(Product Review)

Updated December 4, 2023

  • Fact-Checked We put every effort into ensuring information on ROSHI is accurate and up to date. Double-check all details before applying or buying.
  • Disclaimer
  • Terms & Conditions

Current OCBC Mortgage Rates

Today's OCBC mortgage interest rate trends in Singapore - As of Monday, December 4th, 2023, OCBC’s interest rates for financing a 30-year fixed home loan stands at 3.1% for private properties and 3.1% for HDB’s. In terms of floating rates, OCBC’s lowest interest rate for private property mortgages stands at 4.4% and 4.4% for HDB’s.

Product Review

OCBC is Singapore’s first bank to establish more than $1billion in home loans connected to the recently launched Singapore Overnight Rate Average (SORA) interest rate standard. This distinguished bank is a leading provider in the loan industry. It prides itself on offering enticing home loan packages, and low-cost commencement fixed and board rates. OCBC is also a major financier of HDB’s, condos and private properties.

OCBC is a prominent financial institution that has a net worth of over $500 billion in holdings. It has an impressive portfolio of mortgages specially designed for you. These mortgages include: OCBC Eco-care home loan which helps you save more from your monthly deposits, electricity charges and many more.

Singapore’s 1st
Home Loan Marketplace
Chat Directly with Mortgage Brokers & Review
Customised Options from your Dashboard
Get setup in 30 seconds

The bank provides great options for homeowners that want to take credit for their homes – this is due to their impeccable record of service and affordable interest rates. OCBC is a household name in Singapore and gives a sense of security to its clients because of its status as the longest-standing bank in Singapore. The bank is an active participant in the empowerment of its customers, it provides accessible fixed rates for home loans – that makes Singaporeans smile.

OCBC carries high prestige as the most established commercial house in Singapore and rises to its status by presenting low budget interest rates to prospective building owners. The bank offers reasonable starting fixed rates and slightly higher long-term floating rates. OCDC’s beginning rates are attractive to package subscribers who prefer to refinance their debt and maintain low costs.

The total cost of the average OCBC home loan is within the range of the most competitive home loans in Singapore. Homeowners are recommended to consider this bank while preparing to take credit for their homes. On the flip side, housing lenders regularly adjust their rates to meet new policies and benchmarks. Hence, know the current interest rate before making your final decision.

OCBC also demands basic charges like partial repayment fee, complete recovery fee and termination fee for different services.

OCBC’s Applicable Fees

OCBC charges a few customary fees, including a partial refund fee, full recovery penalty and termination penalty. The table below displays different OCBC fees based on various loan types.

Loan Type Partial Repayment fee Full Redemption Pinalty Cancellation Fee
Board Rate No fee if outstanding balance remains above 50% of loan principal, otherwise 1.5% 1.5% 1.5%
Tracker Partial payment allowed up to 50% of loan principal at no penalty during lock-in period 1.5% 1.5%
Fixed Rate 1.5% 1.5% 1.5%
BUC N/A N/A 1.5%

OCBC HBD Mortgage Rates

If you intend to get home loans for an HDB flat, you can choose either the HDB loan or a bank home loan like the OCBC fixed and floating rates loan packages that are available for HDBs.

OCBC has made it easier for you by providing 4 different loan bundles that will suit your needs. These bundles are the 1 month (1M) Compounded SORA rate, 3 months (3M) Compounded SIBOR rate, OCBC standard board rate and the OCBC fixed rate. All these packages are alternatives to the HDB loan.

OCBC’s loan rate is slightly lower than the standard HDB loan rate. However, an OCBC loan bundle requires a larger percentage of 25% initial deposit (minimum cash instalment of 5%) than the HDB loan of 10% ( which can be conveniently paid with CPF).

  • Fixed Rates
  • Floating Rates
Bank Scheme Lock In Period 1st Yr Interest 2nd Yr 3rd Yr 4th Yr
OCBC 2 Year Fixed 2 years 3.10% 3.10% 4.75% 4.75%
OCBC 1 Year Fixed 1 year 3.15% 4.35% 4.50% 4.75%
OCBC 2 Year Fixed (Flexi) 2 years 3.15% 3.15% 4.75% 4.75%
Bank Scheme Lock In Period 1st Yr Interest 2nd Yr 3rd Yr 4th Yr
OCBC 3-Month SORA 2 years 4.40% 4.40% 4.55% 4.75%

*Today's Mortgage Rates - 04 December 2023

Housing loans with fixed rates are favorable when the interest rates in the market are expected to increase. This covers borrowers from higher mortgage costs. You must understand the obligatory monthly installments and the complete loan cost. In addition to this, also study the loan’s flexibility in terms of refinancing.

Some home loans provide the option of refinancing after a year, while others use lock-in periods where you can’t revise your terms or refinance with a different bank. Most loans with fixed rates have corresponding fixed interest rates that deactivate after 5 years. After this period, the rates begin to float.

If loans with fixed rates are not convenient for you, you can opt for home loans with floating rates to sponsor your HDB project. Floating rates are affixed to reference rates ( like SIBOR, SOR, and bank’s board rate) that frequently vary with time. Floating rate mortgages are attractive when the market is high and there is an expected decline in the coming years. When comparing home loans, it is standard practice to weigh the cost of the monthly instalments, the total loan cost and the lock-in period of each loan.

OCBC Private Property Mortgage Rates

OCBC grants both floating and fixed housing loan rates for private properties and commercial residences like Condos.

Although these loan charges only apply to private residential buildings in Singapore that require loans of at least $300,000 for financing.

SORA bundles of OCBC are dependent on the SORA rate which is the average rate of mortgage transactions in the dangerous overnight interbank SGD cash market. Usually, the 1 month (1M) SORA rate is updated monthly, it is calculated and accepted by the Monetary Authority of Singapore (MAS). Your OCBC bundles connected to SORA and the interest rate will be updated monthly as well.

OCBC also demands a mark-up, which is also called a spread with the 2 month SORA rate. These two concepts form the full interest rate which determines your monthly instalments.

  • Fixed Rates
  • Floating Rates
Bank Scheme Lock In Period 1st Yr Interest 2nd Yr 3rd Yr 4th Yr
OCBC 2 Year Fixed 2 years 3.10% 3.10% 4.75% 4.75%
OCBC 1 Year Fixed 1 year 3.15% 4.35% 4.50% 4.75%
OCBC 2 Year Fixed (Flexi) 2 years 3.15% 3.15% 4.75% 4.75%
Bank Scheme Lock In Period 1st Yr Interest 2nd Yr 3rd Yr 4th Yr
OCBC 3-Month SORA 2 years 4.40% 4.40% 4.55% 4.75%

*Today's Mortgage Rates - 04 December 2023

When studying fixed-rate mortgages, pick loans with the lowest total interest cost; so that you can deposit monthly. Study how reasonable the monthly payments will be and the flexibility of refinancing over some years.
Normally, Singapore’s fixed-rate interest range from 3-to 5 years and then begins to float.

You can also use a floating rate loan plan to finance your private property. Floating rates are tied to standard reference rates that flow according to the market over time. Singapore uses the Singapore Overnight Rate Average interest rate benchmark ( SORA) which allows you to choose from 1 to 12-month rates. Make your choice based on your analysis of the market movement.

OCBC advises all its customers to use the long term rate in a rising market and the short term rate in a declining or flat market.



  • Launch Application via the ROSHI Marketplace

    Launch Application via the ROSHI Marketplace

  • Choose Suitable Mortgage Option

    After you’ve decided on a preferred mortgage option one of our mortgage brokers will help process your

  • Settle Fees & Charges

    Settle all fees (option fee, option exercise fee to the seller as well as the relevant buyer’s stamp duty fee in
    case you are purchasing a private property).

  • Appointment Date & Signing

    Attend your property purchase appointment date and sign all legal documents for the transfer of the property,
    paying all legal and valuation fees.


  • Reasonable Rates

    Individuals seeking home loans with reasonable interest rates

  • Average Refinance Loans

    Individuals that want to get or refinance their home loan of with a minimum of S$300,000 for Private Properties
    and S$200,000 for HDB flats.

  • Restricted Refinance Loans

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


Loan Features
  • Affordable fixed loan rates
  • Minimum principal loan: S$200,000
  • Loan approval is within 1 hour

Frequently Asked Questions

What is a board interest rate?

A bank-managed or board interest rate is a rate that can be changed by the bank on a 1-month notice period. Each floating-rate has a specified board rate identified by a unique code.


Money Smart