Business Overdraft

Business Overdraft

Need access to standby funds for your business?

Why you will love this

Collateral-free* business loan for SMEs

Easy access to funds whenever you need them

Pay interest only on what you use

Who can apply

The company must be locally incorporated for at least 2 years

At least 30% of the company owned by Singaporeans / PRs

Gain access to funds whenever you need them with a credit line that comes with the convenience of a chequing facility.

Features and benefits

Get an overdraft facility credit limit of up to S$200,000

Get an overdraft facility credit limit of up to S$200,000

Pay interest only on what you use

Pay interest only on what you use

Access funds at your convenience with your cheque book

Access funds at your convenience with your cheque book

Before you apply

Eligibility requirements

Business registration
The company must be locally incorporated for at least 2 years
Business ownership
At least 30% of the company must be owned by Singaporeans / PRs

Terms and conditions

*Terms and conditions apply. OCBC bank requires guarantor(s) to support the loan.


Ready to apply?

Get your Business Term Loan today with us

Terms and Conditions
FAQS
Common questions
Why get a business loan?

Common reasons to get a business loan are:

  • Take on projects with a high upfront cost or have standby cash to seize opportunities at the right time;
  • Speed up expansion plans and ride the rapid growth in business with ease;
  • Cover a cash flow crunch.
Who can apply for the OCBC Business Term Loan?

The OCBC Business Term Loan is suitable for businesses that are:

  • Local businesses registered and operating in Singapore for a minimum of 2 years
  • At least 30% local shareholding (Singaporeans / PRs)
What are the documents I should prepare?

Apply online and we will fetch your details via SingPass or CorpPass with minimal documents required. Please prepare the following:

  • Login Details for Corppass and Singpass
  • Entity’s profit and loss statement and balance sheet for the latest 2 years
  • Latest 6 Months bank statement (non-OCBC account holders)
  • Guarantor’s latest 2 Years NOA statement (not required with SingPass authentication)
  • All Directors & Guarantors’ NRIC (not required with SingPass authentication)
How long does the application process take?
The loan application process takes less than 5 minutes when you connect to MyInfo or MyInfo Business.
Are there any penalties for repaying my loan earlier and any other fees I should be prepared for?

There are no prepayment fees for repaying your loan earlier.

A facility fee of 1.5% of the approved loan amount (minimum S$500) is charged in addition to the effective interest rate offered to you. From now till 31 December 2024, apply online to enjoy 50% off facility fees, saving you up to S$5,250. Terms and conditions apply.

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