OCBC Home Loan Review: Complete Application Process and Timeline | Homejourney

The OCBC home loan application process typically takes 60 minutes for instant approvals on eligible online applications, with full processing up to 21 days for complex cases. Homejourney simplifies this by letting you compare OCBC rates with DBS, UOB, and others instantly at https://www.homejourney.sg/bank-rates, apply via Singpass, and receive competing offers from major banks.[2][6]

Why Choose OCBC Home Loan? Quick Overview

OCBC Bank, one of Singapore's "Big Three" banks, offers competitive OCBC housing loans for HDB flats and private properties, including fixed-rate and SORA-based options. Their standout feature is the industry's first 60-minute 'instant mortgage' approval using FICO technology and MyInfo integration for self-serve online applications.[2] This is ideal for first-time buyers or refinancers seeking speed and digital convenience.

OCBC's products include fixed-rate packages with OCBC fixed rate options starting around 1.56% p.a. (as of 2026, subject to change), floating SORA loans, and refinancing solutions like repricing.[9] For a full rates breakdown, check our related article: OCBC Home Loan Review: Rates & Fees 2026 | Homejourney . Homejourney verifies these rates in real-time, prioritizing your safety with transparent comparisons.

OCBC Mortgage Review: Pros, Cons, and Who It's Best For

Pros: Ultra-fast 60-minute approvals for straightforward cases, seamless Singpass/MyInfo auto-fill, and strong digital tools via OCBC app.[2][6] No fees for current-year loan statements, and flexible repricing options.[3]

Cons: Processing fees of S$500 for repricing, tenor changes, or partial prepayments; lock-in penalties apply (e.g., 1.5% on prepaid amounts within lock-in).[3] Best for digitally savvy buyers with stable salaried income, not complex self-employed cases.

Ideal for HDB upgraders in areas like Punggol or Tengah needing quick financing.
Investors refinancing multiple properties should compare with UOB via Homejourney.Who Should Choose UOB Home Loan: Complete Review | Homejourney

Assess your fit using Homejourney's mortgage eligibility calculator at https://www.homejourney.sg/bank-rates#calculator.

OCBC Home Loan Products and Current Rates (2026)

OCBC offers SORA PEAKS (floating), fixed-rate, and board rate loans with tenures up to 30 years. Effective rates hover around SORA + 0.5-1.0% for floating, or 2.0-3.0% fixed initially (verify latest at https://www.homejourney.sg/bank-rates).[8][9]

SORA (Singapore Overnight Rate Average) is the key benchmark post-SIBOR, tied to actual transaction costs. Rates have stabilized post-2024 hikes, but monitor trends.

The chart below shows recent interest rate trends in Singapore:

As seen in the chart, 3M SORA has held steady around 3.0% in early 2026, favoring fixed-rate locks for risk-averse buyers. Compare OCBC vs. market averages on Homejourney for OCBC refinance opportunities.

Complete OCBC Home Loan Application Process: Step-by-Step

OCBC's process is digital-first, leveraging MyInfo for 80% auto-fill. Here's the actionable timeline for new purchases or refinancing:[2][4][6]

Pre-Application (1-2 days): Check eligibility on OCBC's affordability calculator or Homejourney's tool. Gather basics via Singpass.
Submit Online (Instant-60 mins): Use OCBC's mortgage form at ocbc.com or app. MyInfo pulls IRAS NOA, CPF data. Invitation code via partners speeds to 60-min approval.[6][9]
Document Upload (1-3 days): Upload specifics if needed. See required docs below.
Valuation & Review (3-7 days): API-linked valuers assess LTV (up to 75-90% per TDSR rules). Bank officer reviews.
Letter of Offer (LO) (7-14 days): Digital LO for e-signature. Full approval in 21 days max for HDB/private.
Disbursement (14-21 days): Funds released post-legal completion.

Total timeline: 60 mins to 3 weeks. Homejourney's multi-bank submission lets you apply to OCBC, DBS, UOB simultaneously—one form, best offers compete.

Required Documents for OCBC Home Loan Application

Prepare these for smooth processing:[1]

All Applicants: Singpass for MyInfo; HDB printout (even non-owners); CPF Private Property Withdrawal statement.
Salaried: Latest 3 months payslips, CPF statements, NOA.
Self-Employed: Latest 2 years NOA; accountant certification if overseas.
Others: Credit card statements, existing loan details (amount, rate, tenure), dividend proofs if applicable.

Pro tip: Print CPF/HDB statements exactly as guided—name, property address, CPF used must show clearly.[1] Homejourney's Singpass integration minimizes errors.

OCBC Refinance and Repricing: Process and Timeline

For OCBC refinance, submit via OCBC app: Loans > Select account > Repricing. Processing: 2-5 days for approval, S$500 fee.[3] Shorten/lengthen tenor same fee/timeline.

Partial prepay (min S$5k): Request form, confirm via letter, pay via CPF/cash. Penalty if in lock-in. Track real-time SORA on Homejourney to time repricing.