OCBC Al-Amin Home Loan Flexi Loan

OCBC Al-Amin has one flagship Islamic Home Financing product, the Manarat Home-I package, which offers borrowers a Shariah-compliant alternative to OCBC’s conventional home loan packages. Manarat Home-i gives borrowers the flexibility of choosing between fixed+floating or pure floating packages.

For its floating packages, Al-Amin’s interest rates are on par with that of OCBC’s conventional home loans. Therefore, Islamic borrowers can be assured that they are getting a competitive home loan offer. For loans with an attached lock-in period, a 3% early settlement penalty, based on the outstanding loan amount applies when the property is sold/ refinanced within 3 years.

OCBC holds to leading customer service practices, which emphasises quick customer response via its highly-accessible hotline, and follow-on home improvement loan offers for its home loan customers. Borrowers are entitled to borrow for home renovation works, with loan amounts up to 30% of property value, should they want to during the home loan tenure.

What Documents Will I Need to Prepare?

To allow your OCBC Al-Amin Home Loan application to be processed by the bank, you will need to provide a few supporting documents:

* Application Form

* NRIC / Identity Card

* Copy of Sales and Purchase or Booking Receipt or Letter of Offer from Developer

* Copy of Individual Title Deed

* Property Valuation Report (for completed properties)

* Latest 3 consecutive months of salary slips / vouchers

* Latest 6 consecutive months of commission statement

* Latest EPF statements (with 3 consecutive months or more transaction history)

* Latest EA form

* Latest 6 months Bank Statement

* Letter of Confirmation of Employment and Remuneration