Important note about Direct Debiting Account (DDA)
Please note that if you are the sole borrower for your renovation loan, the DDA needs to be in the name of the borrower. Should you wish to use a DDA with a joint account holder, this account must allow you to sign singly (able to authorise withdrawal with your signature only).
If there are joint borrowers for the renovation loan, the DDA must bear the names of all joint borrowers in full or, in the event the DDA is in a single name only, then the DDA holder's name must be in the name of any one of the borrowers.
Application process
You will receive a letter confirming details of your updated DDA within 10 working days if your application is successful. Please note that if the information submited is incorrect, we will not be able to process your application.
Fees and charges
There is no fee charged for this service.