Home Loan (Repricing)

Reprice your existing OCBC Home Loan

Why you will love this

Enjoy lower instalments when you reprice

Choose from a comprehensive range of pricing packages

Fast and hassle-free process

Who can apply

Anyone with an existing OCBC Home Loan which is outside of the lock-in period

Minimum remaining loan amount of S$100,000

Minimum remaining loan tenure of 5 years

Reprice your existing OCBC Home Loan to enjoy greater savings on your monthly instalments.

benefits
Lower monthly instalment

Lower monthly instalments

Enjoy interest savings when you reprice your current loan with a more attractive package.

Enjoy interest savings when you reprice your current loan with a more attractive package.

Fast and hassle-free process

Fast and simple process

Minimal documentation required for owner occupied properties.

Minimal documentation required for owner occupied properties.

Process

Review requirements and apply

Step 1

Review requirements and apply

Read the eligibility requirements below. For a Term Loan granted for personal use, additional documents to be submitted. Apply by clicking on the "Submit form" button below.

Review new interest rate package

Step 2

Review new interest rate package

Our officer will send pricing options via email for your selection.

Accept our repricing offer

Step 3

Accept our repricing offer

After your pricing selection, we will send documents for your acceptance via email.

REPRICING CALCULATOR

Find out how much you can save when you reprice your loan.

1
Understand your current loan
2
What is your new interest rate?
Here is what you will save

Understand your current loan

What is your new interest rate?

Here is what you will save

S$ 0.00

Current monthly repayment

S$ 0.00

New monthly repayment

S$ 0.00

Instalment savings per month

S$ 0.00

Instalment savings over 2 years
before you apply

Eligibility requirements

Lock-in period

From 3 months before the end of your lock-in period

Minimum remaining loan amount

S$100,000

Minimum remaining loan tenure

5 years



Additional information

  1. Repricing fee applies unless stated otherwise in your Letter of Offer.
  2. Your repricing application is subject to satisfactory conduct of your accounts.
  3. Our officer will contact you within 2 working days upon submission of our online form.

ways to apply

Reprice your OCBC Home Loan today

FAQs
Before repricing
  1. What are the processing fees?

    A one-time processing fee of S$500 will apply unless your existing contract allows for a free switch to another pricing package. There will be no legal/valuation fee applicable.

  2. Why should I pay a fee when I can refinance at no cost?

    Refinancing comes with a cost estimated at S$2000 (HDB) and S$3000 (Private Home Loan - PHL). Banks may subsidize this but there will typically be a clawback period (usually around 3 years) should you redeem the loan.

  3. Which package should I choose?

    Asides from interest rates, there are other key terms such as prepayment penalties, fees and charges and lock-in period which you should consider when choosing a suitable pricing package. There are 3 types of home loan pricing available at OCBC.

    Reference Rate Key Features
    1-month Compounded Singapore Overnight Rate Average (SORA)
    • The 1-month Compounded SORA for a given Singapore business day is published by 9 am on the next Singapore business day on MAS’ website.
    • Monthly rate changes. Each 1M Compounded SORA will be fixed on the Rate Review Date and will apply throughout the next 1-month period.
    • Flexibility to prepay up to 50% of your repriced loan amount during the lock-in period
    Fixed Rate
    • Stable monthly instalment for the initial years with fixed interest rates
    • Penalties if you redeem your loan or sell your property within the lock-in period
    OCBC mortgage board rates
    • These are bank-managed rates that can be revised at any time by giving you 30 days’ notice
    • Should the mortgage board rate on your home loan be increased, you will have the flexibility to switch to another OCBC pricing package at no cost
    • Flexibility to prepay up to 50% of your repriced loan amount during the lock-in period
  4. Am I subject to any penalty for repricing now?

    There will be no penalty for repricing if you are out of the lock-in period for your loan. We will review your application to advise you accordingly.

  5. Can I reprice and change my loan tenure as well?

    Yes, you can make a request to revise your loan tenure together with repricing by indicating so when you submit your application online. However, please note that any change of loan tenure will be subject to approval.

  6. Can I reprice and make a partial prepayment as well?

    Yes, you can make a request to make a partial prepayment together with repricing by indicating so when you submit your application online.

After submission
  1. I have submitted my application to reprice online. What do I do next?

    You should have received an acknowledgement email upon successful submission. We will contact you in 2 working days to follow up on your application.

  2. Can you advise on my revised monthly installment amount after repricing?

    We will be emailing the Supplemental Letter of Offer (SLO) and the Residential Property Loan Fact Sheet for your acceptance once the application is approved. The SLO will contain the terms and conditions of the selected pricing package and the Fact Sheet will reflect the indicative monthly instalment amount.

After acceptance
  1. Will I receive any hard copy acknowledgement after my acceptance of the repricing offer?

    The system advice stating your revised monthly instalment will be generated on the day your revised interest rate is effected and will be sent to your mailing address, which will take 5-7 working days to reach you.

    If you have selected a SORA package, you will be receiving an e-statement via your email registered with us instead.

    We will not be sending you hardcopy versions of the SLO and Fact Sheet.

  2. When will my monthly instalment be revised?

    Monthly instalments for home loans are paid in arrears and as such, the new instalment will be revised later. This is also to allow clients sufficient time to adjust their CPF contribution (if required).

  3. How can I adjust my CPF contributions?

    You can instruct CPF Board to revise your CPF contribution online through CPF’s website. If there is a shortfall from your CPF contribution, the shortfall will be automatically deducted from the Direct Debiting Authorisation Account linked to the loan.

  4. Can I get copies of my loan statements?

    A home loan account statement will be sent to you every year, dated 31 December. 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 request your home loan account statements by submitting the Account Information Update/Request form available in the Accounts section at OCBC Help and Support > Banking forms. 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 previous years’ statements.

  5. Can you advise me about my fire insurance?

    There will be no change to your existing fire insurance scheme (if any). You may contact us at +65 6363 3333 for us to assist you with your query.

More questions and answers