Home Loan Repricing

How do I apply to reprice my loan?

Scroll to the top of this page and click on the red 'Apply Now' button. Then, select 'Start an application'.

You can choose to apply using Singpass or an online application form. We currently do not take applications over the phone.

When can I submit an application?

You can apply to reprice your loan three months before your lock-in period ends. To find out what your lock-in period is, and if there are other conditions you need to meet to reprice your loan, please refer to your Letter of Offer (LO) or latest Supplemental Letter of Offer (SLO) (if applicable).

How can I find my loan account number?

To view your 15-digit loan account number, log in to the OCBC Digital app or Internet Banking, then go to 'Loans'.

Alternatively, you can refer to any letter that we sent you regarding the disbursement of your loan or subsequent interest rate changes.

Is there a processing fee?

A one-time processing fee of S$500 will apply unless your existing loan package allows for a one-time fee-free switch to another pricing package. If the processing fee applies, it will be stated in your Supplemental Letter of Offer (SLO); the fee will be deducted from your debiting account after you accept our offer. No legal/valuation fee will be charged.

Why should I pay a fee when I can refinance my loan at no cost?

Refinancing your loan with another bank comes at a cost (estimated at S$2000 for HDB flats and S$3000 for private property).

While the cost of refinancing may be subsidised, there is typically a clawback period (e.g. three years). If you redeem the loan within the clawback period, you will need to return the cost of the subsidy.

Which package should I choose?

Other than interest rates, you should consider aspects such as the lock-in period, prepayment fees and other fees and charges.

We offer two types of home loan packages. Here are the details:

Can I apply to reprice my loan and change the loan tenor at the same time?

Yes, you can do so when you apply online.

Can I apply to reprice my loan and make a partial prepayment at the same time?

Yes, you can do so when you apply online. The prepayment amount you indicate should be at least S$5,000 and in multiples of S$1,000. Learn more about making partial prepayments.

I have submitted an online application to reprice my loan. What do I do next?

If there are no co-borrowers or co-owners, we will acknowledge your submission via email. We will inform you of the outcome - or ask you for more information - within two weeks of the date of your application.

If there are one or more co-borrowers or co-owners, we will email them instructions on how to complete their part of the application. We will only be able to review your application after all co-borrowers/co-owners have completed their part of the application.

Why do the co-borrowers/co-owners need to be involved in the application?

Co-borrowers and co-owners will need to consent to the applicable terms and conditions, and provide us with the required details/documents.

How will I be informed of the revised monthly instalment amount after my loan is repriced?

Once your application is approved, we will send you an email with the following information:

• If you are the main borrower: Instructions on how to accept the Supplemental Letter of Offer (SLO) and Residential Property Loan Fact Sheet (please save a copy of these documents before accepting the offer); or
• If you are a co-borrower: Instructions on how to view the Fact Sheet.

The SLO will state the Terms and Conditions of your chosen pricing package. The Fact Sheet will show the indicative monthly instalment amount.

After I accept the repricing offer, will I receive any acknowledgement in hard copy?

We will not send you hardcopy versions of the Supplemental Letter of Offer or Fact Sheet. Please save a copy of these documents before you accept the repricing offer.

Chose a fixed rate package? Within 7 working days of the date that your new fixed interest rate takes effect, you will receive – at your address in our records – a letter that states your new monthly instalment amount.

Chose a SORA-based package? We will avail, via the OCBC Digital app and Internet Banking, statements that contain your revised instalment amounts each month. Please follow these instructions to retrieve them (no hardcopy statements will be sent to you):

• OCBC Digital app: Log in > Documents > View Documents > Statements
• OCBC Internet Banking: Log in > View accounts > View Documents

When will my monthly instalment amount be revised?

Because monthly instalments for home loans are paid in arrears, your instalment amount will be revised two months after your new interest rate takes effect. This will allow you sufficient time to adjust the amount of CPF funds used for payments (if required).

How can I adjust the amount of CPF funds used for payments?

To adjust the amount of CPF funds used for your payments, please give instructions to the CPF Board using the steps shown below. If the amount you indicate to the CPF Board is lower than your actual monthly instalment amount, the difference will be automatically deducted from the direct debiting account linked to your loan.  

Here are the steps:

• Log in to the CPF website using Singpass.
• Under ‘my cpf’, select ‘My requests’.
• Under ‘Property’, select ‘Use CPF for my property’.
• Select the relevant property under ‘Property Details’ and click ‘Next’.
• Select ‘Revise Monthly Instalment’ and click ‘Next’.
• Click ‘Start’ and enter the details. Select ‘OCBC BANK’ as financier, select the effective date from the dropdown list, then enter your new monthly instalment amount.
• Read the Terms and Conditions and select the checkbox to provide your declaration.
• Click ‘Next’. Confirm that the information you have provided is correct, then click ‘Submit’.

Can I get copies of my loan statements?

A home loan account statement dated 31 December will be sent to you every year. If your property is an Australian or United Kingdom property, you will receive an additional statement dated 30 June or 30 April respectively.

You can also request loan statements by completing and submitting a copy of the Account information Update/Request form (available at the OCBC website > Personal Banking > Help and Support > Banking forms > Accounts). We do not charge for retrieving your loan statement for the current year. There will be a fee of S$50 plus Goods & Services Tax (GST) per statement for retrieving statements from previous years.

In my application, I requested to make prepayment using CPF funds. How do I instruct the CPF Board to release the funds?

Here are the steps:

• Log in to the CPF website using Singpass.
• Under ‘my cpf’, select ‘My requests’.
• Under ‘Property’, select ‘Use CPF for my property’.
• Select the relevant property under ‘Property Details’ and click ‘Next’.
• Select ‘Make Lump Sum Payment’ and click ‘Next’.
• Click ‘Start’ and enter the details. Select ‘OCBC BANK’ as financier, enter the repayment amount and indicate the deduction date – it should be 7 days before the New Effective Date (as defined in the Supplemental Letter of Offer).
• Read the Terms and Conditions and select the checkbox to provide your declaration.
• Click ‘Next’. Confirm that the information you have provided is correct, then click ‘Submit’.

Will I be notified when my lock-in period ends? How can I learn what my lock-in period is?

No separate notification will be sent to you when your lock-in period ends. To find out what your lock-in period is, please refer to your Letter of Offer (LO) or latest Supplemental Letter of Offer (SLO) (if applicable).

Will my fire insurance scheme (if any) be affected?

There will be no change to your existing fire insurance scheme (if any).