To request full redemption of a loan, complete and submit the ‘Manage your existing home loan’ form. Do so two months before the intended prepayment date if your mortgaged property is in Singapore – or three months before the intended prepayment date, if your mortgaged property is overseas. If your loan is tagged to the Cost of Funds, the prepayment date will be the first Rate Review Date (RRD) after the notice period. You will need to pay interest in lieu if insufficient notice is given.

When you repay your loan in full, you may need to pay a prepayment penalty or return any cash reward you receive. This would be indicated in the Letter of Offer (LO) or the latest Supplementary Letter of Offer (SLO).

You can choose to (a) deduct the full redemption amount from the OCBC account used for your monthly instalments or (b) arrange for your appointed law firm to write to us to facilitate your request. If you appoint a law firm that is not on the panel, we have the right to appoint a firm on the panel to act for us; you will be charged legal fees by both law firms.

If we have issues processing your request, you will receive an email from us with more details.

You can make an ad-hoc payment to reduce your outstanding loan balance balance using cash, CPF funds or a combination of both. To do so, complete and submit the ‘Manage your existing home loan’ form one month before the intended prepayment date. If your loan is tagged to the Cost of Funds, the prepayment date will be the first Rate Review Date (RRD) after the required 1-month notice period. You will need to pay interest in lieu if insufficient notice is given.

The prepayment amount must be at least S$5,000 and in multiples of S$1,000. The prepayment penalty, if applicable, will be based on your interest rate package and whether your loan is still within the lock-in period. Any such prepayment penalty will be indicated in the Letter of Offer (LO) or the latest Supplementary Letter of Offer (SLO).

If your loan has been fully disbursed, you can choose to revise the instalment amount or keep it unchanged. If you choose the former and are paying your monthly instalments using CPF funds, remember to inform the CPF Board so that the revised amount can be deducted from your account.

What to expect after submitting your partial prepayment request

Once we receive your request, we will write to you to acknowledge it and confirm:

• The prepayment amount; and
• The effective date of prepayment.

If you are paying using CPF funds, please let the CPF Board know when the prepayment amount should be deducted from your CPF account. To do so, go to the CPF website and log in using Singpass. If you are paying using cash, ensure that there are sufficient funds in your direct debiting account.

We will write to you with details of the effective date and revised instalment amount once prepayment has been made.

If we have issues processing your request, you will receive an email from us with more details.

To request partial or full prepayment of your bridging loan, please visit any OCBC branch.

If you no longer wish to make a partial prepayment, please write to us. Your letter must reach us at least one week before the intended deduction date and include:

• The date of our letter that contained details of the confirmed partial prepayment;
• The loan account number and details of the mortgaged property; and
• Your instructions that we cancel the prepayment (indicate the amount that you wished to prepay)

Your letter must be signed, and either submitted at any OCBC branch or mailed to:
OVERSEA-CHINESE BANKING CORPORATION LIMITED
Privy Box No. 920340
Singapore 929292

If you need assistance, please call us at +65 6363 3333.

To learn more about repricing your home loan, go to our Home Loan Repricing page.

To have us reprice your home loan, please use our ‘Manage your existing home loan’ form. We will inform you of the outcome - or ask you for more information - within two weeks of the date of your application.

To request to shorten or lengthen your loan tenure, please use our ‘Manage your existing home loan’ form. There will be a processing fee of S$500 for each request; please ensure there are sufficient funds in your account for its deduction. We will not be able to process your request otherwise. Your monthly instalment amount will be revised thereafter. You will receive a system-generated advice once your request is processed.

For your lengthening of loan tenure request, the Bank will be in touch with you in 2 working days after your application is submitted. For your shortening of loan tenure request, you will receive a system-generated advice once it is processed.

If we have issues processing your request, you will receive an email from us with more details.

To request that we deduct payments from a different debiting account, please complete our ‘Manage your existing home loan’ form.

Once we process your request, your monthly instalment and any fees relating to your home loan will be deducted from the new debiting account.

The fire insurance will be cancelled automatically upon full redemption of the housing loan if:

• An early full redemption is performed, and a lawyer was engaged to complete the redemption and discharging of the title deed or;
• The fire insurance was arranged by the Bank (e.g. Great Eastern General)

A home loan account statement will be sent to you every year, dated 31 December. If your property is an Australian or United Kingdom property, you will receive an additional statement dated 30 June or 30 April respectively.

To request a home loan account statement, submit the ‘Account Information Update/Request’ form: OCBC website > Personal Banking > Help and Support > Banking forms > Account information Update/Request (under ‘Accounts’). We do not charge for retrieving your loan statement for the current year. There will be a fee of S$50 plus Goods & Services Tax (GST) per statement for retrieving previous years’ statements.

You will need to engage a lawyer who will write to us to request the discharge of your title deeds. The request must be mailed to:

OVERSEA-CHINESE BANKING CORPORATION LIMITED
Privy Box No. 920340
Singapore 929292

If we do not hear from you, we will appoint a lawyer who will contact you within two months. If you have not appointed a lawyer to represent yourself by then, you may appoint the bank’s lawyer to act for you. There is no timeline set as it depends on how quickly you respond to the lawyer.

Send a written request to:

OVERSEA-CHINESE BANKING CORPORATION LIMITED
Privy Box No. 920340
Singapore 929292

If your request is approved, there will be a custody fee of S$500 a year.

There is no premium refund for fire insurance tagged to HDB property home loan. For fire insurance tagged to Private property home loan, it will take about 4-6 weeks for the premium to be credited to your Direct Debit Authorization (DDA) Account, depending on when the endorsement is done by Great Eastern General Insurance Limited (GEG).

In the event that your DDA Account is closed, we will send you a cashier's order.

Upon cancellation of policy, you will receive:

• A letter, to inform you if funds have been credited to your account or sent to you as a cashier’s order
• Endorsement Note states the effective date of cancellation
• Tax Invoice shows the policy period and gives a breakdown of the charges