OCBC Al-Amin primarily offers Shariah-compliant financing products rather than conventional loans, adhering to principles like Musharakah Mutanaqisah (diminishing partnership) and Ijarah (leasing). These avoid riba (interest) through profit-sharing or rental models, overseen by a dedicated Shariah committee.
Manarat Home-i
This flagship home financing product uses Musharakah Mutanaqisah, where the bank and customer co-own the property, gradually transferring full ownership to the borrower via periodic payments. It supports up to 35-year tenures (or until age 70), with financing margins up to 90-100% for completed or under-construction properties, including refinancing options. Packages like Idaman-i (for first-time buyers), Impian-i (semi-flexi for upgrades), and Warisan-i (for established buyers) feature no lock-in, no compounding profits, and daily rest calculations pegged to a Base Financing Rate.
OCBC Al-Amin
Address: 63 Chulia Street #10-00, OCBC Centre, Singapore 049514
Contacts: +65 1800 363 3333; www.ocbc.com[8]
Cash Financing-i
A personal financing solution providing up to RM150,000 (or equivalent in SGD markets) for flexible needs, with tenures up to 7 years and no collateral required. Profits are calculated on a flat rate basis under Shariah principles, making it suitable for personal expenses without gharar (uncertainty). It's designed for quick access, often with fixed monthly installments starting low.
OCBC Al-Amin
Address: 63 Chulia Street #10-00, OCBC Centre, Singapore 049514
Contacts: +65 1800 363 3333; www.ocbc.com[8]
Additional Notes
While rooted in Malaysia, OCBC Al-Amin's Singapore operations mirror these via OCBC Bank's Islamic arm, emphasizing ethical financing for homes, personal needs, and potentially business ventures in halal sectors like ICT. Availability in Singapore may require branch confirmation, as products adapt to MAS regulations.