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Private home loan - loans - ocbcOcbc home loans. For the OCBC Home Solutions Package?Can I apply for the OCBC Renovation Loan only?What are the required documents to be submitted?What if I am an existing IKEA friends VISA Card an existing BEST-OCBC MasterCard have an existing EasiCredit account?Can I apply for the Home Solutions Package with another person?Can my joint renovation loan applicant be the supplementary cardholder of the credit cards?Are there any fees?What are the privileges of OCBC Home Solutions Package?How will I receive the renovation loan proceeds?How long can I take to repay my Renovation Loan?Will my credit cards and OCBC EasiCredit be cancelled upon renovation loan full redemption?How is the interest calculated?Can I make an early redemption on my renovation loan?Can I refinance my renovation loan with another bank to OCBC? Answers 1:What is the OCBC Home Solutions Package? Ans: The OCBC Home Solutions Package is a renovation loan packaged with IKEA friends VISA Card, BEST-OCBC MasterCard and OCBC EasiCredit. Back to Top 2:What is the maximum loan amount to be granted? Ans: For renovation, we will grant you up to 6 times of your monthly income, subject to a maximum of S$30,000. Upon renovation loan approval, we will further grant you 2 times of your monthly income for the credit cards and OCBC EasiCredit respectively. The maximum credit limit for OCBC EasiCredit is S$200,000. Back to Top 3:What are the benefits of applying for the OCBC Home Solutions Package? Ans: We provide you a one-stop solution for your renovation and furnishing needs through our credit card and OCBC EasiCredit offers. You will be![]() |
Ntuc-ocbc moneywiseRty Purchasing a Property Under Construction Upgrading From One Property To Another Use of CPF Appointment of Lawyers 3-Steps of Buying A Completed PropertyStep 1: Consult Your Banker Consult us for an assessment of your financial situation and borrowing limits. Step 2: The Option to Purchase Once the purchase price is agreed, your seller's lawyer will draw up an Option to Purchase. It is an offer by the seller to sell his property to you and he cannot withdraw this offer during the period stated in the Option (usually two weeks). You will need to pay a fee (usually 1% of purchase price) to obtain (not exercise) this contract. When you exercise your Option, a sum equivalent to 10% of the purchase price less the 1% fee has to be paid. These have to be paid using cash or through the Bridging Loan granted by us. Step 3: On Completion The remaining 90% of the purchase price is to be paid upon completion of the sale and purchase of the property which usually occurs within 10 to 12 weeks from date of exercise of the Option. At least 10% of the purchase price must be paid in cash with the remaining 80% consisting of loans obtained from the Bank, CPF and or cash. You will also need to make cash payments for the stamp duties and legal fees at this stage. Back to Top 4-Steps of Buying a Property Under ConstructionStep 1: Consult Your Banker Consult us for an assessment of your financial situation and borrowing limits. Step 2: The Option to Purchase Once you have decided on a unit, you need to pay a booking fee of between 5% to 10% of the purchase price or such amount as determined by |
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