DBS Renovation Loan
Loan Details
Good For
Homeowners renovating BTO flats, resale flats, or condos who need predictable, fixed interest rates.
Borrowers earning at least S$24,000 annually, seeking loans up to 6 times their monthly income or S$30,000.
Those looking for quick processing, as approvals take only 1–3 working days, with disbursement available within 1 working day post-approval.
Applicants who want funds disbursed directly to contractors, ensuring money is spent as intended.
Borrowers comfortable with mandatory insurance coverage and a structured repayment plan.
Things To Note
No Partial Prepayment: Borrowers cannot make partial prepayments. Early full repayment incurs a 1% fee on the outstanding loan amount.
Disclaimer: At MoneySmart.sg, we strive to keep our information accurate and up to date. This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. All financial products and services are presented without warranty. Additionally, this site may be compensated through third party advertisers. However, the results of our comparison tools which are not marked as sponsored are always based on objective analysis first.