6.53%

Interest Rate (p.a.)

1.25% of loan amount or minimum S$150; whichever is higher

Processing Fee (approved loan)

0%

Admin 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 6.53% p.a. (Renovation Loan Board Rate less 4.32% 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

Fees & Charges

Disbursement Fee	S$5 per order (1st Free)
Processing Fee	1.25% of loan amount or minimum S$150; whichever is higher
Cancellation Fee	2% of undrawn or cancelled amount minimum S$100
Late Payment Fee	S$60 per month if account is in arrear
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

Eligibility

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