OCBC Personal Loan

OCBC Personal Loan
(Product Review)

Updated November 18, 2022

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Annual Interest Rate


Minimum Loan Amount


Processing Fee

Product Review

The interest rate offered by OCBC is relatively high compared to other lenders. It Is currently at 3.5% annually and the processing fee is around 2%. This of course is very high when compared to other lenders. This loan is available to borrowers which earn S$30,000 annually and above. This of course is advantageous for low-income earners. Note that interest charged by OCBC is also high for borrowers with lower-income and thus the personal loan offered by the bank has very high interest rates which are 3.5% p.a and EIR of 8.27% p.a


Loans from OCBC would usually incur an initial fee of 2% which is usually equivalent to S$200. This is definitely higher than fees from other lenders. But for lower income earners, you can expect to have a lower processing fee of about S$100. In addition borrowers would still have to pay 3% of the credit amount as partial or full repayment. Lastly, late payment fees attract a fine of S$80.

Overview of OCBC Personal Loan Interest Rates

Loan Duration Fiat Rate Fee EIR Total Cost Monthly Payment
1 Year 5.54% $100 13.92% S$10,554 S$880
2 Year 5.54% $100 13.92% S$11,084 S$462
3 Year 5.54% $100 13.92% S$11,629 S$323
4 Year 5.54% $100 13.92% S$12,192 S$254
5 Year 5.54% $100 13.92% S$12,770 S$213

*Loan Amount Example S$10,000

OCBC Requirements

To obtain a loan from OCBC, you would have to be a Singaporean, PR, or employment pass holder. Employment pass holders have to earn at least S$45,000 annually to be eligible while Singaporeans and PR would only need a yearly salary of S$20,000. The minimum age to apply is 21 years old.


For those who are applying online, they would earn 1.2% cashback or a minimum of $100. Also, there is a provision for a Cash-on-Installments credited line of $10,000 new to bank clients. Terms and conditions apply.


  • Apply via ROSHI

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

  • Provide Required Documents

    You need to submit some documents. These Documents need to be submitted before a request for a loan can be granted.
    Here are the documents needed:

    • 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)


  • Turn limits to instalment monthly plans.

    Turn about 90% of the borrowing limit to a repayable fixed monthly plan.

  • Get up to 6 times your salary.

    Get at least 6 times of salary (S$120000 minimum)

  • Not the most competitive interest rates

    3.5% interest rate per annum. EIR is estimated to be about 6.96%

Frequently Asked Questions

How long does it take for an OCBC personal loan to be approved

To get personal loans from OCBC, the first thing you have to do is be a member of online OCBC banking. If you are not a member, the process would be prolonged. Once you are an approved member, then you are good to go. Your loan request would be approved as soon as possible.