To commemorate Singapore’s 49th National Day, OCBC has launched a video contest, in which all participants will be eligible for a variable mortgage package with low interest rates, according to media reports.
The interest rate for the first year is fixed at 0.49 percent, while the second and third year rates are currently at 1.49 and 1.69 percent respectively. This adjustable-rate package is based on the bank’s board rate, which presently stands at 4.5 percent.
Moreover, the top five winners are exempt from interest for the first year. But if they don’t want to apply for a mortgage or are not qualified for one, they could get $1,000 in grocery vouchers instead.
In order to join, participants must submit a video on what home means to them. The entries will be trimmed down to the 49 most-liked videos at the end of the submission period, but only the best five videos will be selected as winners.
“We are delighted to roll out a series of activities which celebrate the enduring values that we share as Singaporeans, values that have stood us in good stead in the past and give us confidence for an even brighter future,” said OCBC’s Head of Secured Lending Phang Lah Hwa.
“As a bank, we want to help customers own a comfortable dream home or help with interest savings on their existing home loans. To celebrate Singapore’s 49th National Day, we are availing the best home loan packages for the month of August,” she added.
Image source: OCBC Bank’s Facebook page
Muneerah Bee, Senior Journalist at PropertyGuru, edited this story. To contact her about this or other stories email muneerah@propertyguru.com.sg
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