Get the Best OCBC Personal Loan Interest Rates for 2019 Now!

Updated 27 June 2019

Get the latest OCBC Personal Loan interest rates for Singapore on See how OCBC Personal Loan compares against other banks and apply instantly online.

Edit Loan Details

Loan Details

OCBC Cash-on-Instalments

OCBC Cash-on-Instalments


Interest Rate
(EIR 12.12% p.a.)


Total Amount Payable

2% of loan amount

Processing Fee


Per Month

Online Promotion: Get S$60 Cash Rebate! Applies to new to EasiCredit applicantsValid till 31 Jul 2019.
Key Features
  • Apply for Cash-on-Instalment loan via EasiCredit which converts your credit limit into fixed monthly instalments from 12 to 60 months tenure
  • EasiCredit functions as a borrowing facility for your OCBC credit card or loan
  • Interest rates as low as 5.8% p.a. (EIR 11.38% p.a.) for 5 years loan tenor
  • Payment of processing fee may vary based on your choice of personal loan plan. Please confirm this with the bank prior to loan approval.
Loan Details
Citizenship StatusSingaporean / PR
Minimum Annual Income$20,000
Maximum Loan Tenure5 years
Processing Fee2% of loan amount
Repayment Summary
Principal Loan Amount$10,000
Interest Rate (p.a)5.80%
Loan Tenure3 years
Total Interest Payable$1,740
Total Amount Payable$11,740
Monthly Instalments$326

MoneySmart lists Personal Loan products that range between a minimum of 1 to a maximum of 7 years. The effective interest rate (EIR) of loan products on our site range from 8.5% p.a. to up to 20.0% p.a. The EIR of your loan will be dependent on the loan you apply for as well as your personal financial needs.

For example, you would need to pay S$316/month for a S$10,000 Personal Loan with a loan tenure of 3 years. This would equate to a total payment of S$11,376 over 3 years. Please view each Personal Loan product in detail for a full breakdown of the interest rate chargeable, minimum and maximum loan tenure as well as processing fees (if applicable).

OCBC Personal Loan Calculator (S$10K Loan Amount)

TenureEffective interest rate (EIR)Interest Rate (per year)
12 Months11.47%0.00%
24 Months9.15%0.00%
36 Months12.12%5.80%
48 Months11.70%5.80%
60 Months11.38%5.80%

OCBC Personal Loan Interest Rates & Fees

Before you sign up for an OCBC personal loan, here are some important things to know about the interest rates and fees:

Interest Rate

OCBC personal loan interest rates depend on your annual income. Those with annual incomes of $30,000 or more enjoy lower interest rates, while there are higher interest rates for those who earn from $20,000 to $29,999 annually. The actual interest rate and EIR depend on your loan tenure as well.

Processing Fees

If you have an annual income of $30,000 and above, the processing fee is either 2% of the loan amount or $200, whichever is higher. For those whose incomes fall below the $30,000 mark, the processing fee is usually a flat $100. However, you should check with the bank representative to confirm your processing fee before the loan is approved.

Penalties & Charges

If you don’t pay your monthly instalments on time, there’s a late payment fee of $80. For early repayment of the loan, you need to pay a fee of 3% of the repayment amount or $1,000, whichever is higher. You also have the option of restructuring the loan (say, changing the loan tenure) for 3% of the outstanding loan amount.

OCBC Personal Loan Eligibility Criteria

The OCBC Cash-on-Instalments is open to Singaporeans, Permanent Residents and foreigners who are 21 years old and above. For Singaporeans and PRs, the minimum annual income to apply is $20,000. For foreigners, the minimum annual income is a rather steep $45,000. Under the OCBC ExtraCash loan, you can borrow up to 6 times your monthly income.

As mentioned in the earlier section, note that the interest rates and processing fees vary depending on your actual annual income. For Singaporeans and PRs, the minimum is $30,000 in order for you to get better rates.

How to Apply for OCBC Personal Loan

You can apply for an OCBC personal loan online via MoneySmart. The online application process requires you to log in to your CPF, so be sure to have your SingPass details and one-time password device handy. After completing the online application, you also need to print out the forms and send the hard copy documents to OCBC. You’ll need to provide your identification and income documents too. Singaporeans or PRs can submit your NRIC as proof of identification. For foreigners, you can submit your passport as well as employment pass, work permit or student pass. In addition, you need to provide proof of your income. This can be your latest computerized payslip, CPF contribution history or latest income tax statement.