Renovation Loan

Design your dream home with our renovation loan

Financing of up to S$30,000

Flexible repayment period from 1 to 5 years

Loan up to 6 times your monthly income (capped at $30,000 whichever is lower)

Free 1st 3 cashier orders

Free insurance covers outstanding loan in the event of death or total and permanent disability




Eligibility

  • Age between 21 and 59
  • Annual income S$24,000 and above
  • Singaporeans and Singapore PRs
How to apply

Interest rates

Loan of at least S$5,000

5.38 % a year
Effective interest rates (EIR)
    Monthly repayments

Fees & Charges

Processing fee

S$200 (deducted up-front upon disbursement)

Administrative fee

1% of approved loan amount (deducted up-front upon disbursement)

Partial prepayment fee

2% of amount prepaid

Full redemption fee

2% of outstanding loan balance

Change renovation contractor / loan amount / loan period (after approval, before loan disbursement)

S$200

Cancellation fee (applicable if less than 90% of approved loan is disbursed)

S$200

Cashier’s orders

Free for first 3; subsequently S$20 each (cashier’s orders will be issued in the contractor’s company name)

Late instalment payment

S$50

Application Process

2 ways to apply

By mail

Complete the form and mail it to us with copies of your:
1
NRIC

for Singaporeans
and Singapore PRs

2
Income documents
  • Pay slips from the last 6 months (salaried employeess) or;
  • CPF contribution history of last 6 months
    (12 months for self-employed and commission-based earners) or;
  • Latest income tax statement (2 years for self-employed and commission-based earners)
3
Property documents
  • Contractor’s quotation
    (signed by you and your contractor)
  • HDB Sales Order or lawyer’s letter if living in rented property

For joint applicants, please also attach your marriage certificate (for spouses) or birth certificates (for siblings or parent-child).

At a branch

Please bring along:
1
NRIC

for Singaporeans
and Singapore PRs

2
Income documents
  • Pay slips from the last 6 months (salaried employees) or;
  • CPF contribution history of last 6 months (12 months for self-employed and commission-based earners) or;
  • Latest income tax statement (2 years for self-employed and commission-based earners) 
3
Property documents
  • Contractor’s quotation (signed by you and your contractor)
  • HDB Sales Order or lawyer’s letter if living in rented property

For joint applicants, please also attach your marriage certificate (for spouses) or birth certificates (for siblings or parent-child).
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