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What is a Home Loan Statement?

A home loan statement is a detailed brief of the loan repayment that you have made in a financial year and is provided by your bank or lender. Here's what it looks like:

What do transaction descriptions mean?

Table 1

Transaction description	Definition
Interest - system	Interest System: The monthly interest charge (capped at instalment amount), which will be added into the loan balance as a debit item. If interest charge is more than monthly instalment, the unbilled interest will be accumulated under 'Accrual Interest'
Dr Advance Pymt	Advance Payment: Payment that is made ahead of its normal schedule. Advance payment will be used to pay for the interest/instalment amounts falling due in the current month, i.e. every 1st day of the month
Int-Auto Split Prin-Auto Split	Repayment: Payments received are divided into two portions, i.e. interest and principal. Any surplus will be credited as an advance payment
Chq	Chq: Repayment through cheque
Giro	Giro: Repayment through interbank GIRO fund transfer from any participating bank's branch.
CIA	CIA: Repayment through Cash Deposit Machine (CDM)
ATM	ATM: Repayment through Automated Teller Machine (ATM)
AFT	AFT: Repayment through Standing Instruction (SI) or Auto Fund Ttransfer (AFT) from OCBC savings or current account.
Late Charge	Late Charge: Interest charged on overdue interest/instalment payments, i.e. 1% p.a. on the overdue sums from the due date to the date of the actual payment in full.
Capital Rpymt-Cash	Capital Repayment: Lump sum capital payment will be applied towards the reduction of the principal balance outstanding. Customer is still required to continue servicing the monthly repayment

What do transaction summary items mean?

Table 2:

Transaction description	Definition
Total Financing	Total Financing: Facility limit or loan amount
Total Balance	Total Balance: Total amount owing up to statement date, i.e. latest balance in the statement + accrued interest. However, it does not include other charges and penalty interests that have not yet been debited to the account. Please note that the Total Balance may not be the settlement amount because it may not have included (yet to be debited) charges incurred by the Bank on your behalf, as well as any extra charges which may be imposed as per the terms and condition of the Letter of Offer should you decide to make capital repayment or early settle your loan during the lock-in period
Interest Charged	Interest Charged: Total interest charged and debited to loan account during statement period.
Redraw Available	Redraw Available: Capital repayment (exclude EPF funds) available for redraw. Terms and conditions apply
Amount in Arrears	Amount in Arrears: Outstanding interest/instalment as on statement date, due for payment
Charges in Arrears	Charges in Arrears: Outstanding fees and charges, e.g. late charge, insurance, legal fee, etc., as on statement date, due for payment.
Accurred interest	Accurred interest: Unbilled interest accumulated up to statement date. This amount has not been debited into the account.

What happens if I pay more than my monthly instalment?

If you are unsure about interpreting your loans statement, here's an easy-to-guide:

If you have any more questions, please contact us at +603 8317 5000.

What happens to my excess/advance payment made earlier?

If you are unsure about interpreting your loan statements, here's an easy-to-use guide:

If you have any more questions, please contact us at +603 8317 5000.

What happens if I pay late?

If you are unsure about interpreting you loans statement, here's an easy-to-use guide:

If you have any more questions, please contact us at +603 8317 5000.

Home Loans - Home Loan Statement Guide

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