OCBC Eco-care Renovation Loan Monthly Rest

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Key Features

3.98%
Interest Rate (p.a.)
0%
Processing Fee (approved loan)
0.50%
Admin Fee (on loan amount)

Other Features

The bank in Singapore that permits third-party borrowers.
Loan disbursement within 1 working day after approval.
You can predict your home’s energy consumption with the Tropical Home Energy Efficiency Assessment (THEEA) by BCA in just 2 minutes before applying for the OCBC Eco-Care Renovation Loan.

Eligibility

Citizenship Status

Singaporean /PR

Age Requirement

21 – 59 years old

Employment Status

Salaried / Self Employed

Guarantor / Collateral

Minimum Annual Income

S$42,000 p.a. (S$3,500 gross monthly income)

Fees and Charges

Disbursement Fee: S$20 per order (Up to 3 Free)
Processing Fee: 0%
Admin Fee: 0.50% on loan amount
Insurance Premium: 1% on loan amount
Cancellation Fee: 2.00%
Late Payment Fee: S$80
Partial Repayment Penalty: 2% on prepaid amount
Full Repayment Penalty: 2% on outstanding loan amount

Review

By LOANPANDA

The OCBC Eco-care Renovation Loan offers a low interest rate of 3.98% p.a. and zero processing fees for approved loans. Additionally, it permits third-party borrowers and provides a quick loan disbursement within 1 working day after approval.

You can also use the Tropical Home Energy Efficiency Assessment (THEEA) to predict your home’s energy consumption and make your renovation more eco-friendly. Eligibility requirements include being a Singaporean/PR, aged 21-59 years old, with a minimum annual income of S$42,000.

FAQ

A credit card is a convenient tool for people to pay for purchases today, offering many perks and rewards that can add up to more savings for the cardholders.

While there are so many types of credit cards offering different features, you may wonder: How best to choose one that suits you?

Here’s a short guide LOANPANDA has compiled to help you understand the credit card requirements, interest rates and basic payment terms.