OCBC Home Loan Review 2026: Complete Guide | Homejourney

OCBC home loan remains a top choice for Singapore property buyers in 2026, offering competitive fixed and SORA-based rates amid falling interest rates. This definitive Homejourney guide reviews OCBC mortgage packages, rates, pros/cons, and application process to help you decide confidently.

Homejourney prioritizes your safety and trust with verified rates from all major banks like DBS, UOB, HSBC, and more. Use our bank-rates page to compare OCBC housing loan options instantly and apply via Singpass for faster approvals.[1][3]

1. OCBC Bank Overview and Market Position
2. OCBC Home Loan Products and Types
3. OCBC Home Loan Rates 2026
4. Pros and Cons of OCBC Mortgage
5. Eligibility and Approval Criteria
6. OCBC Home Loan Application Process
7. OCBC Refinance and Repricing Guide
8. Customer Experience and Service
9. Why Choose Homejourney for OCBC Loans
FAQ: OCBC Home Loan Common Questions

1. OCBC Bank Overview and Market Position

OCBC Bank, one of Singapore's 'Big Three' alongside DBS and UOB, holds a strong position in the home loan market with a focus on stability and customer-centric packages. Established in 1932, OCBC serves over 8 million customers regionally and leads in HDB and private property financing.[3][7]

In 2025, OCBC saw a sevenfold increase in switches from HDB loans to bank loans, driven by rates below HDB's 2.6% concessionary rate. Fixed-rate packages dominate, preferred by four in five customers for repayment predictability.[1]

OCBC's unique selling points include promotional fixed rates, legal subsidies, and flexible repricing without fees during rate hikes. For HDB upgraders in areas like Punggol or Tengah, OCBC offers tailored HDB loans with quick processing.[3]

OCBC vs Other Banks

Compared to DBS and UOB, OCBC excels in longer fixed tenures (up to 5 years) and HDB-specific perks. Track real-time comparisons on Homejourney's bank-rates tool.[1]

2. OCBC Home Loan Products and Types

OCBC offers fixed, SORA-pegged (floating), and board rate packages for new HDB, private property, and resale flats. Key products include 2-year/3-year/5-year fixed rates and 3M Compounded SORA options.[3][7]

Fixed rates provide stability: e.g., 2-year lock-in at low p.a. rates. SORA loans track the Singapore Overnight Rate Average, now at 1.2% lows, ideal for rate fall expectations.[1]

Package Type	Lock-in Period	Best For
2-Year Fixed	2 years	Short-term certainty
3-Year Fixed	3 years	HDB buyers
5-Year Fixed	5 years	Long-term stability
3M SORA + Spread	Flexible	Rate optimists

Insider tip: For BTO flats in Woodlands, pair OCBC's 3-year fixed with Homejourney's property search to match budgets.[3]

3. OCBC Home Loan Rates 2026

As of early 2026, OCBC fixed rates range 1.4%-1.8% p.a., down from 3.1% in early 2025, tracking US Fed cuts and SORA at 1.2%.[1] Effective rates include spreads: e.g., 3M SORA + 0.5%.

SORA (Singapore Overnight Rate Average) is the key benchmark for floating loans, replacing older SOR. Homejourney tracks live 3M/6M SORA on our mortgage calculator.

The chart below shows recent interest rate trends in Singapore:

Rates hit 3-year lows; experts predict modest 2026 declines unless shocks occur. For a $500k loan, OCBC 5-year fixed saves $4,100 yearly vs HDB 2.6%.[1]

Loan Amount	2-Year Fixed (~1.6%)	Monthly Instalment (25yr)
$500,000	1.55%-1.65%	$2,650
$1,000,000	1.45%-1.60%	$5,200

Rates below market average; compare with UOB or DBS on Homejourney.[1][5]

4. Pros and Cons of OCBC Mortgage

Pros

Competitive fixed rates (1.4%-1.8%), popular with 80% of customers.[1]
Fee waivers for repricing during hikes; no admin fees.[2]
HDB switch incentives: 7x uptake in 2025.[1]
Flexible packages for resale/private properties.[3]
Strong digital tools for calculations.[4]

Cons

Prepayment penalties (1.5%) during lock-in.[2]
Fewer cashback promos vs DBS in Q1.[1]
SORA volatility risk for floating loans.

Best for HDB owners seeking stability. Use Homejourney to weigh against HSBC or Maybank.[1]

5. Eligibility and Approval Criteria

OCBC follows MAS TDSR (Total Debt Servicing Ratio ≤55%) and MSR (Monthly Servicing Ratio ≤30% for HDB). Minimum income $3,000/month; age 21-65.[7]

Key factors: Credit score >600, stable employment, LTV ≤75% (new) or 45% (refi). Calculate eligibility on Homejourney's calculator – e.g., $10k income qualifies ~$600k loan at 1.6%.[1]

Insider tip: For ECs in Simei, factor CPF OA rate (2.5% now) into affordability.

6. OCBC Home Loan Application Process

Documents: NRIC, income slips (3 months), CPF statements, property option fee receipt. Apply online via OCBC or Homejourney's multi-bank system with Singpass auto-fill.[3][7]

Check eligibility on Homejourney.
Submit via bank-rates.
Valuation (3-5 days).
Approval (1-2 weeks).
Legal completion (4 weeks).

Homejourney connects you to OCBC and others simultaneously for best offers.

7. OCBC Refinance and Repricing Guide

Reprice existing OCBC loans fee-free; full refinance for switches. Savings: $500/month for Ms. Chan's DBS reprice to 1.6%.[1][4]

Costs: Legal fees ~$2k-$4k, valuation $200-$500. Break-even in 6-12 months at current lows. Track on Homejourney for OCBC refinance vs UOB.[2]

8. Customer Experience and Service

OCBC's app offers real-time instalment calculators and 24/7 chat. High satisfaction for fixed package stability; quick HDB processing (under 21 days).[1][4]

Challenges: Rate revision notices (30 days advance).[2] Homejourney users praise multi-bank bidding for better terms.