From 4.98%

Interest Rate

^S$11,494

Total Amount Payable

^S$125

Processing Fee

All Details

• Key Features

  • Interest rates from 3.88%p.a. for existing Home Loan customers. Your renovation loan application must be approved with a minimum loan quantum of S$15,000 and a minimum loan tenure of 3 years

  • Attractive renovation loan interest rate from 4.98% p.a. (Renovation Loan Board Rate less 3.92% p.a.) for new customers

  • Loan amount up to 6X your monthly income or S$30,000 (whichever is lower)

  • Loan tenure up to 5 years

• Repayment Summary

  Total Interest Payable	S$1,494
  Monthly Payment	S$319
  Total Amount Payable	S$11,494
  Processing Fee	S$125
  Effective Interest Rate	4.98%
  Annual Interest Rate	4.98%
  Approval Duration	N/A
  Citizenship	Singaporean/Pr
  Principal Loan Amount	S$10,000
  Loan Tenure	3 Years
  Minimum Annual Income	S$30,000
  Maximum Loan Tenure	5 Years

Eligibility

Citizenship Status	Singaporean / PR
Age Requirement	21 - 55 years old
Employment Status	Salaried / Self Employed
Minimum Annual Income	S$30,000
Guarantor/Collateral	N/A

Fees & Charges

Processing Fee	1.25% of loan amount or minimum S$150; whichever is higher
Disbursement Fee	S$5 per order (1st Free)
Late Payment Fee	S$60 per month if account is in arrear
Cancellation Fee	2% of undrawn or cancelled amount minimum S$100
Partial Repayment Penalty	Each prepayment shall be made in multiples of S$1,000, with the prepaid amount not more than 50% on the original approved loan amount and the outstanding loan does not fall below S$5,000 after the prepayment
Full Repayment Penalty	2% of amount prepaid or redeemed minimum S$100. A minimum notice period of 1 month or payment of interest in lieu is required

Loan Features

Guaranteed Interest Rate	No, interest rate is adjusted based on loan tenure
Approval Duration	2 -3 days