OCBC My First Home Scheme

OCBC Bank provides an innovative home financing solution, My First Home Scheme. This scheme offers a good deal for the first home buyers with a long repayment tenure.

Features & Benefits

  • The facility offers up to 100% financing on the property.
  • The repayment period for the facility can be extended up to a tenure of 35 years.
  • The facility is applicable for residential property that is under construction or completed.
  • The property with a value ranging between RM100,000 and RM500,000 is eligible for this facility.
  • The facility offers fixed or variable interest rates for the first home buyers.

Interest/Profit Rates

The loan is offered on variable rates pegged to OCBC’s Base Rate.

  • The Base Rate is 4.05% p.a.
  • The Mortgage lending rate is 5.70% p.a.
  • The Base Lending Rate/ Financing Rate is 7.01% p.a.

The rates are effective from 2 February 2018.

Eligibility Criteria

  • The age of the applicant should be 40 years or below.
  • The facility is valid for Malaysian citizens only.
  • As the name suggests, only the first-time home buyers can utilize this facility.
  • The applicant must be a resident at the home being funded.
  • The gross income of the single borrower must not exceed RM5,000 per month. In the case of joint application, the total gross income of the applicants must not exceed RM10,000 per month.
  • The applicant must be a permanent employee at the current company; and must be employed for at least 6 months in the current company.

Documents Required

  • As a proof of identity, the applicant must provide a copy of MyKad/IC/NRIC.
  • If the applicant is an employee, he/she must provide three latest salary slips/bank statement/EPF statement as income proof.
  • For businessmen, business registration certificate/Form 9, 24 and 49 are to be submitted in addition to the bank statement.
  • Also, it is good to have Form EA/Form B/Form BE along with the tax payment receipts.

How To Apply

  • Offline Application: The customer can visit the nearest OCBC branch to apply for the OCBC My First Home Scheme.
  • Online Application: The customer can reach out to the customer care number mentioned on the bank’s official website to get details on the online application process.

Fees & Charges

Processing Fee Not Charged
Late Payment Fee 1% p.a.
Redraw Request of Loan Facility RM10.60 on each request
Redemption Statement Request by customers/lawyers of customers RM53 on each request
Processing Fee on Request for Loan Statement (additional to the half-yearly statements) RM10.60 on each additional request
Processing Fee on Request of Letters for EPF Withdrawal (applicable to both hardcopy and softcopy) RM21.20 on each request
Photostating Title Deed RM5.30 on each title
Photostating Legal Documents RM10.60 on each document
Photostating Letter of Offer RM10.60 on each document


OCBC Bank offers a calculator on their official website for customers’ convenience. The customer can draw a fair idea of the amount to be repaid by entering the loan amount, loan term, repayment frequency (monthly/fortnightly/weekly) and interest rate.

There is another way one can make use of the calculator, i.e., the customer can enter the instalment that can be paid, the loan term, repayment frequency and interest rate to know the total loan amount that can be fetched from the bank.

However, the figures shown on the calculator are indicative and may vary based on the interest rates the bank offer.

Contact Number

OCBC Bank connects with its customers through the customer care number, 03 8317 5000. The customers can communicate their queries with the bank and make their transactions easier and faster.


Q. I am a non-Malaysian citizen. Can I make use of the OCBC My First Home Scheme?

A. No. This scheme is valid only for Malaysians.

Q. I am 39 years old. Please let me know the maximum loan repayment period I can have.

A. You can have a loan repayment period of 26 years as the age up to which you can repay the OCBC My First Home loan is 65 years.

Q. I am planning to buy an office space in Peninsular Malaysia. Will OCBC provide me loan under OCBC My First Home Scheme?

A. No. OCBC My First Home Scheme is applicable only for residential properties and not for commercial properties.

Q. Is there any restrictions on the joint application for OCBC My First Home Scheme?

A. The only restriction on joint application for OCBC My First Home Scheme is that the combined gross income must not exceed RM10,000 per month.

Q. Is it true that 100% financing is offered under OCBC My First Home Scheme?

A. OCBC offers up to 100% financing based on the property value, gross income of the applicant and other factors.

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