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Maybank Renovation Loan
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Maybank Renovation Loan

Reasons To Get This Renovation Loan:
  • Borrow up to 6x your monthly salary or $30k whichever is lower
  • Loan tenure of up to 5 years
  • Attractive interest rates
Maybank Renovation Loan

Maybank Renovation Loan Highlights

years

2.98%

Flat rate

1% of approved loan

$383

Per Month

Maybank Renovation Loan

Repayment Summary

Principle Loan Amount
$20,000
Monthly Instalment
$383
Interest Rate (per annum)
2.98%
Loan Tenure
5 years
Total Amount Payable
$22,980
Total Interest Payable
$2,980

Key Product Features

Minimum Loan Amount
$15,000
Maximum Loan Amount
$30,000
Max Loan Tenure
5 years
Interest Rate
2.98%
Approval Duration
1-2 weeks

One-time Fees & Charges

Disbursement Fee
Free 1st Cashier's Order for disbursement to your contractor. Subsequent Cashier's Order are chargeable at $5 each.
Processing Fee
1% of approved loan

Penalties & Late Fees

Late Payment Fee
5% above Prime Lending Rate (currently at 5.25%) on any overdue instalment. (Minimum $20) + Late Payment Fee $60
Partial Repayment Penalty
Not Allowed
Full Repayment Penalty
1% on the outstanding loan amount (Minimum $100) + Early Settlement fee (20% of total interest payable for remaining loan period)

Eligibility

Citizenship Status
Singaporean or Singapore PR
Age Requirement
21 to 60 years old
Employment Eligibility
Salaried or Self Employed
Guarantor / Collateral
N/A
Minimum Annual Income
  • Sole Applicant must be earning at least S$30,000 per annum.
  • Joint Applicants _ S$24,000 p.a. (for Main Applicant only). Joint Applicant must be gainfully employed and must be a spouse, parent, sibling, or child of the Main Applicant.
Maybank Renovation Loan

Apply Online for This Renovation Loan Now!

Maybank Renovation Loan

Apply Now