OCBC ExtraCash

OCBC ExtraCash Loan
(Product Review)

Updated June 18, 2024

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Annual Interest Rate


Minimum Loan Amount


Processing Fee

Current OCBC Extra Cash Rate

Today's OCBC Extra Cash interest rate trends in Singapore - As of Tuesday, June 18th, 2024, OCBC Extra Cash’s annual interest rate stands at 5.42% with an effective interest of 12.11%.

Product Review

Many banks and credit facilities offer different interest rates among which OCBC is known to stand out. The bank’s ExtraCash loan interest rate is at 5.54% with an EIR of 10.96%. With brief analysis, it is easy to conclude that this rate isn’t the lowest in the market. Notwithstanding the interest rate, OCBC still offers one of the best options for
borrowers earning below S$30,000 annually, who could not get loans from other lenders. This means that when you consider lenders that have transparent interest rates, OCBC has one of the best rates for individuals on the lower end of the salary band.

However, in Singapore, the OCBC ExtraCash loan still ranks high on the list of more expensive borrowing options, this is
attributed to the bank’s flat interest rate which is considered high by many. It is estimated to be somewhere around 5%.
The processing fee is also relatively expensive as it charges an estimated S$200 which sometimes is equivalent to 2% of
the total loan amount.

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However, Borrowers can benefit from OCBC’s transparency. And this is what sets the bank apart from other lenders.
Because in the credit industry transparency matters a lot because borrowers would know the full implication of their
decision, unlike the ones which are not transparent.

OCBC ExtraCash Loan Processing Fee

For low income earners, the processing fee is usually reduced to about S$100. In addition to all these conditions, OCBC
will charge an upward fee on either full or partial paybacks. This is estimated to be about 3% of the total loan amount.
This usually begins with at least S$1,000. Also, a late payment fee is charged which is about S$80. All these are
similar to what other banks are charging.

Overview of OCBC Extra Cash Interest Rates

Loan Duration AIR Fee EIR Total Cost Monthly Payment
1 Year 5.42% $200 12.11% S$10,542 S$879
2 Year 5.42% $200 12.11% S$11,084 S$462
3 Year 5.42% $200 12.11% S$11,626 S$323
4 Year 5.42% $200 12.11% S$12,168 S$254
5 Year 5.42% $200 12.11% S$12,710 S$212
*Rates Updated June 18, 2024 - Loan Amount Example S$10,000

Application Requirements

The application requirements for the OCBC ExtraCash loan are flexible. It covers both Singapore citizens, PR’s and
foreigners (employment pass holders). Being either of those qualifies you to apply for an OCBC’s ExtraCash loan.
However, foreigners must have an income of minimum S$45,000 per annum. While for Singaporeans and PR’s the minimum cap
is, S$20,000 and the age limit is 21 years.


The bank offers amazing deals, borrowers get back 1.2% or $100 cash if they submit an online loan application of $10,000 or more. Terms and conditions apply.


  • Apply via ROSHI marketplace

    You may start your application by clicking on the OCBC link.

  • Provide Required Documents

    Submit all related and essential documents to OCBC to get loan approval.
    Here are some items to consider:

    • IDs such as NRIC or any other related ID
    • Recently printed payslip
    • The last 6 months of the CPF Contribution History Statement
    • Recent Income Tax NOA (This is for those who wish to get a higher loan)
  • Receive your loan disbursement

    With all these submitted, the loan should be disbursed once the application is approved by OCBC online.


  • Access to one of a good interest rates

    Newcomers have access to a 3.5% interest rate per annum. EIR is estimated to be about 6.96%

  • Turn borrowing limits into installments

    Turn about 90% of your borrowing limit into a repayable fixed monthly plan.

  • Get up to at 6 times your salary

    Get up to 6 times your monthly salary (S$120,000 minimum)

  • Expensive short-term & long-term interest rate

    OCBC’s interest rates are some of the highest in the market

  • No incentives

    No competitive offers

OCBC ExtraCash Personal Loan Calculator

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Frequently Asked Questions

How long does it take to get my OCBC loan approved?

To get a loan from OCBC, you have to be an existing bank customer. This is what prolongs the process in case you are new to the bank you would need to first get a bank account before applying. But once you are approved, the cash is almost instantly disturbed.