Our recognitions and achievements drive us to go further for you.
The Asian Banker Financial Technology Innovation Awards 2020
The Digital Banker Global Retail Banking Innovation Awards 2020
The Digital Banker Global Retail Banking Innovation Awards 2020
Shop for a new or used car that is within your budget by knowing your maximum loan amount beforehand.
Apply with Singpass and get your car loan approved within 60 seconds.
You will not incur any penalty or fees until you finalise the car purchase and accept the Hire Purchase Agreement.
Be part of a greener Singapore with your electric vehicle and enjoy significant savings.
Apply securely via Myinfo and get your car loan approved within 60 seconds.
Apply securely via Myinfo and get your car loan approved within 60 seconds.
Borrow up to 7 years and 70% of the total car price at an interest rate of 2.48% per annum (EIR 4.65% based on a loan tenure of 7 years).
Borrow up to 7 years and 70% of the total car price at an interest rate of 2.48% per annum (EIR 4.65% based on a loan tenure of 7 years).
Be part of a greener Singapore with your electric vehicle and enjoy significant savings on us.
Be part of a greener Singapore with your electric vehicle and enjoy significant savings on us.
Terms and conditions apply.
Charge+
Audi e-tron
Jaguar
Nissan
Charge+
Audi e-tron
Jaguar
Nissan
Meet John
Engineer, 32 years old
Looking to buy his first car
Does not know which car he can afford and has not been to a showroom yet
Meet Jill:
Accountant, 45 years old
Looking to upgrade to a new car
Has decided on which car to get and is currently at the showroom
Step 1
Use Myinfo and get a car loan in just 60 seconds! Based on your approved loan amount, you will know the maximum car price you can afford, so that you can shop with confidence.
Step 2
Inform your car dealer that you have an OCBC Car Loan after you have selected your car. Your car dealer will submit the car details to us and you will receive an SMS to verify the information.
Step 3
As you already have an approved loan with us, we can speed up the process and send you the Hire Purchase Agreement immediately via SMS. You can review and accept the agreement digitally.
Step 4
Your car dealer will arrange for you to collect your car when it is ready.
We will email you the Hire Purchase Agreement with the monthly instalment amount and payment date.
Step 5
Step 1
Your dealer will start a Car Loan Application that will be sent to you via SMS. Confirm the loan details filled in by your dealer. Then, fill in your confidential information securely using Myinfo with Singpass authentication. Finally, enter any additional information required and submit the form.
If you fill in the form yourself, you will need to provide:
Step 2
Once your loan application is approved, OCBC will send you a Hire Purchase Agreement via SMS. You can review and accept the agreement digitally.
Your dealer will then update you on the COE bidding status (for a new car purchase), arrival of your car shipment, its registration, and any outstanding payments (difference between the purchase price and approved loan amount).
Step 3
Your dealer will arrange for you to collect your car when it is ready.
We will email you the Hire Purchase Agreement, indicating the monthly instalment amount and payment due date.
Step 4
OCBC Car Loan does not currently finance private hire vehicle or commercial vehicle.
| Period | 1 year | 2 years | 3 years | 4 years | 5 years | 6 years | 7 years | |
| Electric Car | Rate | 2.48% per annum |
||||||
| Electric Car | EIR % | 4.55% per annum |
4.69% per annum |
4.72% per annum |
4.71% per annum |
4.70% per annum |
4.68% per annum |
4.65% per annum |
| Petrol/Diesel Car | Rate | 2.78% per annum |
||||||
| Petrol/Diesel Car | EIR % | 5.09% per annum |
5.25% per annum |
5.27% per annum |
5.27% per annum |
5.24% per annum |
5.22% per annum |
5.19% per annum |
| COE Car | Rate | 2.98% per annum |
||||||
| COE Car | EIR % | 5.46% per annum |
5.62% per annum |
5.64% per annum |
5.63% per annum |
5.61% per annum |
5.57% per annum |
5.54% per annum |
| Period | |
| Electric Car | Rate |
| EIR % | |
| Petrol/Diesel Car | Rate |
| EIR % | |
| COE Car | Rate |
| EIR % |
Rates are subject to change.
Effective Interest Rate (EIR) is the true cost of the loan and the rate that includes all fees and charges.
| Period | 1 year | 2 years | 3 years | 4 years | 5 years | 6 years | 7 years | |
| Electric Car | Rate | 2.48% per annum |
||||||
| Electric Car | EIR % | 4.55% per annum |
4.69% per annum |
4.72% per annum |
4.71% per annum |
4.70% per annum |
4.68% per annum |
4.65% per annum |
| Petrol/Diesel Car | Rate | 2.78% per annum |
||||||
| Petrol/Diesel Car | EIR % | 5.09% per annum |
5.25% per annum |
5.27% per annum |
5.27% per annum |
5.24% per annum |
5.22% per annum |
5.19% per annum |
| COE Car | Rate | 2.98% per annum |
||||||
| COE Car | EIR % | 5.46% per annum |
5.62% per annum |
5.64% per annum |
5.63% per annum |
5.61% per annum |
5.57% per annum |
5.54% per annum |
| Period | |
| Electric Car | Rate |
| EIR % | |
| Petrol/Diesel Car | Rate |
| EIR % | |
| COE Car | Rate |
| EIR % |
Rates are subject to change.
Effective Interest Rate (EIR) is the true cost of the loan and the rate that includes all fees and charges.
Minimum age
21 years old
Nationality
Singaporeans, Singapore PRs and foreigners
Late fee
S$80
Full settlement penalty
1% on outstanding loan amount
Interest rebate clawback
20% on interest rate rebate (rule 78 computation)
or speak to your car dealer.
Car loan eligibility and quantum depends on several factors, including but not limited to your outstanding loan liabilities and monthly income. Depending on the open market value (OMV) of the vehicle, the Monetary Authority of Singapore (MAS) limits financing up to 60%/70% of the purchase price.
At OCBC Bank, we offer competitive interest rates for car loans and additional benefits with our Eco-Care product suite. Want to find out more about OCBC car loans? Email us at carloans@ocbc.com to find out more.
A COE – or Certificate of Entitlement – gives you the right to own and use a vehicle in Singapore. The cost of getting a COE is also factored into a car loan. You can check the latest COE prices and bidding results in Singapore on the OneMotoring page. You can also use a loan calculator to find out the monthly instalments for your car purchases.
Loans usually come with an interest rate that is payable on top of the principal amount. To calculate the total loan amount you will need to repay, add the principal sum together with the interest. You can use an interest calculator, or use the following formula:
Interest payable = Loan amount * interest rate * (number of payments/12)
Upon successful application, you will also receive a breakdown of the total loan amount, including the interest.
Via OCBC Internet Banking
Via OCBC Digital app
Via mail
The GIRO application may take 4 to 6 weeks to process. You will receive a notification letter upon approval of the application. In the meantime, please continue to make payment via other options.
Via OCBC Internet Banking
Via OCBC Digital app
Note: Prior to setting up bill payment via ATM, please note to add ‘OCBC Car Financing’ as the billing organisation first. You may refer to this guide on how to add billing organisation.
For customers with multiple accounts under OCBC
For customers with single account under OCBC
Note: Branches do not accept Credit Card or NETS Payment
