OCBC joins fixed-rate home loan battle

Singapore

HOME buyers are getting more financing choices as OCBC Bank jumped into the fray last week with a new mortgage package.

Singapore's second largest bank OCBC last Friday launched a two-year fixed rate home loan based on a new benchmark, called the OCBC Home Rate (OHR). The OHR benchmark is the long-term average of the one-month and three-month Sibor or Singapore interbank offered rate.