Apply for a Renovation Loan with attractive interest rates and minimal formalities.
Take a step closer to renovating your dream home with us.
House Renovation Loan Comparison
| Product | Interest rate(p.a.) | Monthly Repayment (Based on $30,000 loan) |
Contact Us |
|---|---|---|---|
RHB Renovation Loan
|
4.18% p.a. | $888 | Enquire Now |
OCBC Renovation Loan
|
4.18% p.a. | $888 | Enquire Now |
CIMB Renovation-i Financing
|
4.33% p.a. | $890 | Enquire Now |
May Bank Renovation Loan
|
4.10% p.a. | $887 | Enquire Now |
What can you use the home renovation loan for?
- Building new cabinets across your flat or home
- Painting and designing new interiors
- Fixing the electrical works or adding new wiring
- Making structural changes in your home
- To redo the flooring and doing tiling work
- Installing new solar panels
- Renovating the exterior compound of your house
Have any other changes to make? Well, you can talk to our experts for free to consult for free about loans for home renovation.
Home Renovation Loan vs Personal Loan
Home Renovation Loan
- You can use a home renovation loan only for the purpose it is intended–which is–renovating your home. That is, you cannot divert its funds for any other use.
- To take a home renovation loan, you need to show proof of the ownership of the house or give consent to a related family member to renovate the house
- Generally, the loan amount is lower and can be anywhere up to $50,000 SGD
- Generally, the loan amount is lower and can be anywhere up to $50,000 SGDLoan rates can start around 2% per annum
Personal Loan
- You can use a personal loan for any purpose. Of course, you can take a personal loan for even renovating your own home.
- Here’s the best part: if you can’t show proof of ownership, you can still take a personal loan and use it for home renovation.
- The loan amount you can apply under personal loan can be way higher and even beyond hundred thousand dollars
- Loan rates can start around 3% per annum
Who can apply for a home renovation loan?
How long does it take to get a home renovation loan approved and disbursed?
- What’s the annual income of the borrower
- What the borrower is going to renovate in the home using loan
Some banks also charge a percentage of the loan (usually 1%) as a handling fee.
Here are all the banks we work with to give you the best home renovation loan option
