Common reasons to get a business loan are:
- Take on projects with a high upfront cost or have standby cash to seize opportunities at the right time;
- Speed up expansion plans and ride the rapid growth in business with ease;
- Cover a cash flow crunch.
Business Overdraft
Need access to standby funds for your business?
Gain access to funds whenever you need them with a credit line that comes with the convenience of a chequing facility.
Features and benefits
Get an overdraft facility credit limit of up to S$200,000
Get an overdraft facility credit limit of up to S$200,000
Pay interest only on what you use
Pay interest only on what you use
Access funds at your convenience with your cheque book
Access funds at your convenience with your cheque book
Before you apply
Eligibility requirements
Business registration
The company must be locally incorporated for at least 2 years
Business ownership
At least 30% of the company must be owned by Singaporeans / PRs
Terms and conditions
*Terms and conditions apply. OCBC bank requires guarantor(s) to support the loan.
Ready to apply?
Get your Business Term Loan today with us
Terms and Conditions
-
Standard Terms and Conditions Governing Banking Facilities
-
Terms and Conditions Governing Business Loans
Download the Terms and Conditions Governing Business Loans.
FAQS
Common questions
Why get a business loan?
Who can apply for the OCBC Business Term Loan?
The OCBC Business Term Loan is suitable for businesses that are:
- Local businesses registered and operating in Singapore for a minimum of 2 years
- At least 30% local shareholding (Singaporeans / PRs)
What are the documents I should prepare?
Apply online and we will fetch your details via SingPass or CorpPass with minimal documents required. Please prepare the following:
- Login Details for Corppass and Singpass
- Entity’s profit and loss statement and balance sheet for the latest 2 years
- Latest 6 Months bank statement (non-OCBC account holders)
- Guarantor’s latest 2 Years NOA statement (not required with SingPass authentication)
- All Directors & Guarantors’ NRIC (not required with SingPass authentication)
How long does the application process take?
The loan application process takes less than 5 minutes when you connect to MyInfo or MyInfo Business.
Are there any penalties for repaying my loan earlier and any other fees I should be prepared for?
There are no prepayment fees for repaying your loan earlier.
A facility fee of 1.5% of the approved loan amount (minimum S$500) is charged in addition to the effective interest rate offered to you. From now till 31 December 2024, apply online to enjoy 50% off facility fees, saving you up to S$5,250. Terms and conditions apply.
Other products you may like
Business Term Loan
Fund your business expansion or enhance day-to-day operations.
Business First Loan
Just started your business? This collateral-free loan of up to S$100,000 is suitable for start-ups as young as 6 months.
Digital Business Banking
Take your business forward with OCBC Velocity. Maximise our powerful features and advanced tools to grow your business more effectively in this modern economy.
Our awards and accolades