Compare the best personal loans for home renovation
No collateral required, with fixed monthly repayments you can plan around.
Compare rates from top banks with MoneySmart.
Compare personal loans and find the one that fits your budget
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Standard Chartered CashOne
- Interest Rate*
- From 0.90% p.a.
- Total Amount Payable
- S$10,090
- Processing Fee
- S$0
- Per Month
- S$841
Sign up via MoneySmart and claim:
Up to S$4,200 Cash OR 19,050 SmartPoints (enough to redeem Apple iPhone 17 Pro Max and more) T&Cs apply.
Bonus promotion:
- 1.00% cashback of your loan amount
- Only applicable to loans over S$18,000 with a 3 to 5 year tenure
- New-to-card and new-to-loan customers only
T&Cs apply.
Trust Instant Loan
- Interest Rate*
- From 1.00% p.a.
- Total Amount Payable
- S$10,100
- Processing Fee
- S$0
- Per Month
- S$842
Sign up via MoneySmart and claim:
Up to S$1,700 Cash via PayNow OR 19,050 SmartPoints (enough to redeem Apple iPhone 17 Pro Max and more) T&Cs apply.
Bonus promotion:
- Use promo code: MONEYSMT
- Get S$10 FairPrice E-Vouchers
- New-to-Trust customers only
T&Cs apply.
HSBC Personal Loan (For Renovation Needs)
- Interest Rate*
- From 1.30% p.a.
- Total Amount Payable
- S$10,130
- Processing Fee
- S$0
- Per Month
- S$844
T&Cs apply
What most people financing a renovation don't know
Contractors, carpentry, hacking—all covered
Banks in Singapore specifically recognise home renovation as a valid use—no collateral, no contractor invoice required by most lenders.
Borrow up to four to six times your monthly salary
Most banks offer renovation loan amounts tied to your income. This is usually enough to cover a full HDB or condo reno.
Your savings stay yours
Depleting your savings means losing the interest they're earning. A fixed-rate personal loan spreads the cost predictably, so your emergency fund stays intact.Common questions about personal loans for renovation
What types of renovation work does a personal loan cover?
Most banks place no restrictions on how you spend a personal loan—which means it covers the full scope of a typical renovation: hacking, carpentry, electrical, plumbing, tiling, painting, and furnishings.
Unlike some housing grants or schemes, there's no approved contractor list to worry about.
Do I need to show renovation quotes or invoices to apply?
No. Unlike a dedicated renovation loan from HDB or some banks, a personal loan doesn't require you to submit contractor quotes, invoices, or proof of works.
You can apply before you've even confirmed your ID—making it useful if you're still in the planning stage.
What's the difference between a personal loan and a renovation loan?
Some banks market "renovation loans" as a distinct product—but in most cases, they're personal loans with a stated renovation purpose.
The key differences to check: loan caps, interest rates, and whether contractor documentation is required.
If none of the lenders on our platform offer a dedicated renovation loan product, a standard personal loan is your most flexible option.
Can I apply before my renovation is confirmed?
Yes—and many homeowners do. A personal loan isn't tied to a specific contractor or project scope, so you can secure financing while you're still getting quotes.
Just borrow based on a realistic budget estimate, since topping up later means a separate application and a fresh credit check.
Who is eligible to apply?
Generally, you'll need to be a Singapore Citizen or PR, at least 21 years old, and meet the lender's minimum annual income threshold— typically $20,000–$30,000 p.a.
Eligibility criteria vary across lenders. T&Cs apply.
How much can I borrow?
Individual banks offer personal loans of up to 6x your monthly salary, but the total limit is up to 12x as per MAS guidelines.