OCBC Personal Loan

OCBC Personal Loan
(Product Review)

Updated July 17, 2024

  • 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

Annual Interest Rate


Minimum Loan Amount


Processing Fee

Current OCBC Personal Loan Rate

Today's OCBC Personal Loan interest rate trends in Singapore - As of Wednesday, July 17th, 2024, OCBC Personal Loan’s annual interest rate stands at 3.80% with an effective interest of 7.49%.

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

Singapore’s 1st
Personal Loan Marketplace
Chat Directly with Loan Specialists & Review
Customised Options from your Dashboard



3 Months

72 Months

Your monthly payment


* For a loan amount of $20,000, APR of 6.95%, 5 year tenure, the tot. loan payable will be $26,940 with a monthly cost of $449. An individualised APR will be presented at the end of your application. Max. APR 8.88%. Min. repayment period 3 months, max. 72 months.


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 AIR Fee EIR Total Cost Monthly Payment
1 Year 3.80% 1.0% of approved loan 7.49% S$10,380 S$865
2 Year 3.80% 1.0% of approved loan 7.49% S$10,760 S$448
3 Year 3.80% 1.0% of approved loan 7.49% S$11,140 S$309
4 Year 3.80% 1.0% of approved loan 7.49% S$11,520 S$240
5 Year 3.80% 1.0% of approved loan 7.49% S$11,900 S$198
*Rates Updated July 17, 2024 - 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
    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%

OCBC Personal Loan Calculator

Calculate My Results

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.