OCBC Line Of Credit – How To Borrow up to 6x Your Monthly Salary


OCBC created a new plan that allows you to borrow up to 6 times your monthly salary at a decent price. Their new EasiCredit Personal Line of Credit option might not be the cheapest on the market. But it definitely is your best choice in terms of loans. It is best suited for individuals with a low income looking for a personal line of credit with a minimum income of S$20,000 required.

The interest rate is a little on the high side, but it is worth it due to the other benefits offered by the bank. It is a short-term loan that is quick and affordable. It allows you to withdraw only the amount of money you need at a small interest rate per month, which is accrued daily.

The OCBC Personal Line of Credit represents the go-to choice when you are out of choices. It is the best backup plan regarding financial issues. It even offers a small amount of cashback in certain conditions so your expenses are a little bit lower than other competitors on the market. This presentation will show you its benefits, the fees and rates, and a step-by-step guide on how to apply for this loan.

OCBC Line Of Credit - How To Borrow up to 6x Your Monthly Salary

Benefits of OCBC Line of Credit

The biggest benefit of an OCBC Line of Credit is its accessibility, as low-income earners can apply for it. Its low minimum income requires only S$20,000 per year, which is the lowest on the market if you are a Singapore citizen or Singapore PR. For a foreigner, the minimum income increases to S$45,000. This is also the lowest compared to other banks on the market.


Additionally, it does not require many documents. All you need to provide is the NRIC if you are a Singapore citizen or PR, or you need a passport along with a valid pass if you are a foreigner. You are also asked to provide a payslip if you are an employee or a statement of your salary from the last 6 months if you are self-employed or working as a freelancer on commission-based projects.

The maximum credit limit ranges from two to six times your monthly income. Thus, you can choose as much money as you need, with the bank offering full support in creating a personal line of credit for the customer.

Fees and Rates

Several fees apply regarding the EasiCredit Line of Credit offered by OCBC. The most important one is the annual fee consisting of S$80. It is waived one time for individuals with an income bigger than S$30,000, but if your income is lower, this fee is something to consider.

The bank also charges for overdue and late payments, as well as for over-limit fees. As a borrower, make sure you stick carefully to your payment plan and have the total cost of your loan as low as possible. The late payment fee is between S$80 and S$125, and the over-limit fee is S$50. The processing and administrative fees are also present. But they are to be talked over with a bank representative since they are negotiated based on your loan.


The annual interest rate also varies depending on your annual income. With an annual income between S$20,000 and S$29,999, your interest rate per year is 29.98%. The maximum credit limit is 2 times your monthly salary. With an income of S$30,000 and over, the annual interest rate lowers to 19.98%. This also allows you to go for 4 times your monthly salary. Finally, you can get 6 times your monthly salary if your annual income is over S$120,000.

How to Apply

As always, before applying for a loan, you must check your eligibility, with a few criteria standing out. The minimum age is 21 years old, and depending on your citizenship, the annual income varies.

You may apply online at this link by simply filling out a form, or you can create an account on their web platform here.

OCBC Line Of Credit - How To Borrow up to 6x Your Monthly Salary

Contact Information

Depending on your problem or question, OCBC can be reached by different means, either via phone or email. They also have a mailbox.

Personal Banking

Call 6363 3333 (24-hour)

Calling from overseas? Call +65 6363 3333

Premier Banking

Call: 1800 Premier (1800 773 6437)

Calling from overseas? Dial +65 6350 5930

OCBC Bank, 65 Chulia Street, #01-00, OCBC Centre, Singapore 049513

Note: There are risks involved when applying for and using credit. Consult the bank’s terms and conditions page for more information.