OCBC Home loan


OCBC is probably one of the only banks out there that offers various funding plans to help the people live a good life without actually spending their lives savings. In Malaysia, OCBC Home Loans are said to be the best compared to those of other banks. They offer semi-flexible funding packages with profitable rates and lowest lock in period. For all those of you who are looking to buy your first home, OCBC Bank will be a good choice.

Do you qualify for an OCBC home loan?

To apply and qualify for an OCBC Bank loan, you will at least have to be 18 years of age. This is considered a plus point as some banks have a minimum age limit of 21 years old. You also cannot be more than 70 years of age if you are looking to apply for an OCBC loan. You have to make sure that you are also employed and that you have the minimum take home salary of RM24000.

Just how much can you really borrow?

OCBC Bank gives you a maximum instalment limit of up to 50% of your income to service the loan. The loan is provided could also reach up to a 90 and a 5% Mortgage Reducing Term Assurance (MRTA) of the property. Try not to have too many existing loans as this will also reduce your chance of getting a loan.

How do I improve my chances on getting a loan for that dream house I have always wanted?

It is always a bonus if you are married because you will be able to make your spouse a co-applicant and her income will be added to your eligibility when applying for the loan. Instead of taking a 30 year tenure loan, try going with a longer tenure loan which is up to 35 years as this will lower your monthly payments to the bank, giving you a higher chance of qualifying based on your repayment ability. If you aren’t married, you then have the option of adding your parents as co-applicants and the same privileges apply.

4 types of loans available

OCBC Standard Housing Loan: This is a basic housing loan which offers a margin of finance of up to 90% for financing up to RM500,000. Customers can also pay more to service the loan if they have access cash in their hands.

OCBC Special Housing Loan: You will be offered financing of up to RM 120,000 and RM 100,000 to buy home in East Malaysia and Peninsular Malaysia, respectively. The loan tenure available is up to 35 years or when the applicant reaches the age of 65; whichever is earlier. This plan is only applicable for all those with who only have one house.

OCBC My First Home Scheme:  Every Malaysian who has been dreaming about buying their first home can now apply for this scheme which provides a financing of up to RM 400,000 and the terms of the finance margin available is up to 100%. The loan tenure is up to 35 years or when you reach age 65, depending on whichever comes first.

OCBC Overseas Property Financing: You are now free to invest in properties overseas such as in the UK and also Australia by being a part of the OCBC programme. Now buying a property in Australia and UK for investment and business purposes have become easy with this OCBC program. Properties which are completed and under construction are eligible to be funded under Overseas Property Financing.

Being a fellow Malaysian, you would know that OCBC has done as much as they could to help all of us out by offering different loan packages to suit our needs. The 4 loan plans mentioned earlier come with a very attractive and competitive interest rate. You decide now, which one suits you best.