OCBC has disbursed S$3.5b under Eco-Care Loans

Two thirds of Eco-Care Home Loan customers live in HDBs.

OCBC’s Eco-Care Loans accounted for 1 in 5 home, renovation, and car loans extended by the bank since its launch in March 2021.

The bank said that it has disbursed more than S$3.5b of Eco-Care Loans in the past two years, with the value in 2022 quadrupling from 2021.

“OCBC Eco-Care Home Loans helped to drive the growth in 2022, increasing in value by four times compared to the previous year. They also accounted for close to a quarter of the number of new home loans in 2022, an encouraging sign that homeowners are actively incorporating sustainability in their lifestyles,” the bank said in a press release.

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It was reportedly particularly popular amongst HDB dwellers, with two-thirds of the loan’s customers residing in an HDB.

Car loans under the Eco-Care umbrella also thrived in 2022, with loans surging 400% compared to 2021.

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