Car Refinancing

Refinance your existing car financing to enjoy lower monthly instalments


    • Age 21 and above
    • Singaporeans, Singapore PRs and foreigners
    • For applicants who have an existing car financing with other banks (for at least 6 months) at an interest rate of 2.40% a year or more

    How to apply  


    Financing of up to


    of the outstanding balance

    Repayment period of up to

    7 years


    Want to know how much you need to pay to settle your current financing? Calculate your full settlement amount

    How OCBC Car Refinancing works

    1. Reassess your existing car financing

    You may be paying too high an interest on your existing car financing with other banks. Speak with us to see how much you can save with OCBC Car Refinancing.

    2. Transfer car financing to OCBC

    OCBC will pay off your existing financing with the other bank and refinance your car on newly-agreed terms.

    3. Car financing with OCBC

    You can start making monthly payments to OCBC at lower interest rates.

    Application process

    • 1Prepare documents
    • 2Speak to OCBC
    • Wait
    • 3Sign documents
    • Wait
    • 4Receive Hire Purchase Agreement
    • 5Begin monthly repayments
    • 1

      Prepare the following contacting OCBC

      Need to prepare

      Existing Hire Purchase Agreement
      Full settlement figure for existing finance
    • 2

      Call us to apply for OCBC Car Refinancing

      We will discuss

      Possible interest savings
      Interest rates
      Finance period and amount

      If agreeable, you will need to provide

      A copy of your ID card
      Your income documents
      Computerised payslip; or
      Income tax notice of assessment; or
      Latest 6 months' CPF contribution
      Completed application form
      Work permit (for foreigners only)
      Existing Hire Purchase Agreement
      Full settlement amount for existing finance

    • We will inform you on your finance approval within the next 24 hours and appoint a credit agent to assist you with the car financing process.

    • 3

      Meet your credit agent to sign documents
      The credit agent will contact you to arrange for this meeting.

      Need to sign

      Hire Purchase Agreement
      Customer Assignment (for Transfer of Exisiting Hire Purchase Agreement

      Need to pay

      First month's instalment
      Admnstration fee (if any)

    • Settlement of your existing finance will be made within the next 3 days. Your credit agent will notify you of the progress.

    • 4

      OCBC will mail you your new Hire Purchase Agreement

      Things to note

      Instalment amount and due date are mentioned in the Hire Purchase Agreement

    • 5

      Make monthly repayments

      For your convenience

      Set up your payments via GIRO 462kb

      Other payment methods

      Drop your cheque into any of our cheque deposit boxes
      Make cash payments in person at any of our bank branches

    2 ways to apply

    Apply for a Renovation Loan from the comfort of your home.

    Apply now

    By mail

    Complete the form and mail it to us with copies of your:

    for Singaporeans
    and Singapore PRs

    Vehicle Sales Agreement
    • Download a copy here
    • Fill up the form and obtain both buyer's and seller's signatures

    Get us to call you

    Get us to call you by providing us with your contact details.

    Complete online enquiry form

    Call our hotline


    6363 3333

    Operating hours are from
    9am to 5pm, Mondays to Fridays
    (excluding public holidays)


    Terms and conditions

    New financing period is computed by subtracting financed period (with existing financer) from the repayment period of 7 years.