For borrowers with the lock-in period, a 3% settlement penalty applies. For loans exceeding RM500,000, there is no lock-in period, which allows borrowers to refinance or sell their home/ property without incurring an early settlement penalty. OCBC Home Loans have a 3 year lock in period (relatively low) for loans below RM500,000. Both OCBC's flagship packages are semi-flexi home loan package with lock-in flexibility. Currently, there is no difference between the final pricing of both packages despite the different benchmark rate. The Ideal Mortgage is pegged to the Mortgage Lending Rate, a benchmark interest rate for mortgage lending. In terms of pricing, the Standard Housing Loan are pegged to Malaysia's BR, the benchmark lending interest rate. OCBC has two major home loan products, Ideal Mortgage and the Standard Housing Loan.
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