Fixed Deposit-linked rates
- Rates are pegged to our 36-month fixed deposit rate
- Rates and payments can change with our 36-month fixed deposit rate
- Free conversion to any other package if the fixed deposit rate increases
Short-term fixed interest rates
- Fixed monthly payments means you can budget and plan ahead
- Protects you from rate fluctuations for the first
- Interest rates tend to be higher than other packages
Variable interest rates
- Rates are lower than fixed rates
- Rates and payments can change with the OCBC board rate
The interest rates indicated are fixed and guaranteed for either the first year or the first two years only, depending on the package you sign up for.
This will also mean that your monthly instalment is fixed and will not change within those years.
At the end of the fixed rate period, the interest rates will be based on the bank’s internal rates (board rate) minus a discount stated in the Letter of Offer.
Customers can choose between different lock-in periods.
The lock-in period indicates the period where there will be penalty imposed on the customers if they decide to refinance the loan. For packages with no lock-in period, the customer can choose to refinance the housing loan package anytime.
The SIBOR may change every day. The bank uses the SIBOR on a specific date (also known as the Rate Review Date) and adds on a fixed percentage for the interest rate of the housing loan. The interest rate will be reviewed every 3 months.
SIBOR has varied between 3.5% and 0.6% in the past 5 years.
The bank uses the 36-month fixed deposit board rate and adds on a fixed percentage for the interest rate of the housing loan.
The 36-month fixed deposit rate is currently 0.65%, and has been unchanged since 1 November 2011. The highest it has been in the last 10 years is 0.925% in November 2005.