Renovation Loan

Design your dream home with our renovation loan

Flexible repayment period from 1 to 5 years

Loan up to 6 times your monthly income (capped at $30,000 whichever is lower) Min loan size: $5,000

Free 1st 3 cashier orders

Wide selection of renovation contractors & interior designers

Quick processing time




Eligibility

  • Age between 21 and 59
  • Singaporeans and PRs
  • Single Application: Minimum income of $24,000 per year
  • Joint Application: At least 1 applicant must earn a minimum income of $24,000 per year
How to apply

Interest rates

Loan of at least S$5,000

5.38% a year
Minimum Loan Size: $5,000

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).
Find nearest branch to apply
Locate

OR

Get us to call you

Complete your enquiry form

 

 

Terms and Conditions Governing Renovation Loan (for customers whose loans are approved on or after 15 January 2015)

Terms and Conditions Governing Renovation Loan (for customers whose loans are approved before 15 January 2015)