Home Loan BYTES FROM OUR KITCHEN

OCBC Standard Housing Loan

OCBC Malaysia offers the standard housing loan for those who wish to own a house in Malaysia. The interest rate for this loan is variable, and pegged to the Base Rate. This is a basic home loan with the interest calculated on a daily basis.

Margin of Financing Up to 90% of the valuation price
Type of Financing Flexi loan
Loan Tenure Up to 35 years or age of 70 years, whichever is earlier
Interest Rate BR + variable interest rate Base Rate stands at 4.08% p.a. from February 2018

Features and Benefits

  • Make any extra payments on the loan if you prefer to close the loan early.
  • Withdraw the extra payments if you require urgent funds.
  • Convert this loan into an overdraft facility if required.
  • Get financing to include Mortgage Reducing Term Assurance (MRTA) on your loan.
  • Set up standing instructions for regular monthly repayments.

Fees and Charges

Processing Fee Waived for this loan
Stamp Duty As per the Stamp Duty Act 1949
Extra Payment Redraw Request RM10 (each request)
Redemption Statement Request RM50 (each request)
Loan Statement Request RM10 (each request)
Copy of Title Deed RM5 (each title)
Copy of Legal Documents RM10 (each document)
Copy of Offer Letter RM10 (each document)

Eligibility Criteria

Nationality Malaysians

Required Documents

Applicants Copy of MyKad or NRIC (front and back) Latest salary slips Latest bank statements Copy of Title Deed, or Copy of Sale and Purchase Agreement

How to Apply

Telephone Application Call 03 8317 5000 to speak to a bank representative. Express your interest in applying for this loan.
Branch Location Locate your nearest branch using the “Find Nearest Branch” tab on the OCBC website. Visit the branch along with mandatory documents. Complete and submit an application form with supporting documents.

The OCBC Standard Housing Loan gives you an opportunity to purchase and own a home anywhere in Malaysia. Ensure that you meet all eligibility criteria imposed by OCBC for this facility. Submit all necessary documents on time to ensure a speedy application process.

FAQs

Q. What is the minimum financing amount for this loan?

A. The minimum financing amount for this loan is RM100,000.

Q. What is the maximum financing amount for this loan?

A. The maximum loan amount can vary from case to case depending on your income and credit assessment. OCBC offers financing up to 70% of the purchase price if you are eligible for it.

Q. Can I get a quote for this loan?

A. Yes. Click on “Calculate How Much You Can Borrow” tab under this loan page on the OCBC website. Key in relevant information to get an approximate quote.

Q. Do I need to give an advance notice to OCBC before I make any extra payments on this loan?

A. No. There is no need to notify OCBC of your intent to make extra payments on this facility.

Q. Whom should I contact for any queries on this home loan?

A. You can contact the OCBC customer support department at 03 8317 5000 for any queries associated with this loan.  

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