Home Renovation Loan

With Home Renovation Loan, you can get up to 6 times your monthly salary to turn your dream home into a reality.

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With Home Renovation Loan, you'll enjoy
Cash for your renovation needs
 
 
Home Renovation Loan allows you to create your dream home with:
- Up to 6 times your monthly salary for your renovation needs
     
     
Low interest rates*
   
 
Depending on your loan tenor, you can enjoy interest rates as low as 4% per annum-regardless of the loan amount.
   
 
  Effective interest rates range from 7.30% p.a. to 9.24% p.a.
     
Loan Tenors of up to 5 years
   
 
With a disciplined fixed monthly repayment schedule, you will be in a better position to manage your finances and cash flow.
   
 
  For illustration purposes only. Calculations are rounded up/down to the nearest dollars.
   
     
Total Peace of Mind Ensured
     
 
For as little as 1% of your Home Renovation Loan2 and Personal Loan2, you’ll enjoy insurance coverage that protects you and your family from theb burden of repayment in the event of death or total permanent disability.
   
     
Bank's List of Preferred Contractors
     
 
To speed up the processing of your Home Renovation Loan, you may want to consider engaging any of the contractors listed on the following websites:

www.hdb.gov.sg/bn25/isos118p.nsf
www.radac.org.sg/arlist.asp
   
 
 
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Terms and Conditions
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6. 		For joint applicants, each applicant will be charged 1% to enjoy this insurance coverage.
Interest rates are calculated based on the "front-end add-on" method by multiplying the principle loan amount with the specified annual rate for the full tenor of the plan.
For the Home Renovation Loan's flat rate 4% p.a., the effective interest rate is 7.30% for 1 year, 7.50% for 2 years and 7.51% for 3 years.
For the Home Renovation Loan's flat rate of 5% p.a., the effective Interest rate is 9.24% for 4 years and 9.15% for 5 years.
Minimum income of the main applicant is $30,000 per annum.
Application should be Singapore Citizens or Permanent Residents, and aged between 21 and 60 years old.