Renovating your home is an exciting and rewarding process. Whether you’re looking at a minor facelift or transforming your entire home into the dream of your lifetime, it can be simpler and more affordable than you imagine. Let RHB Renovation Loan and Furnishing Loan complete your vision of a perfect home.
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| • Loan amount up to 6 times² your monthly salary or S$30,000 whichever is the lower |
| • Flexible repayment period from 1 to 5 year |
| • Free personal accident insurance³ coverage for the main borrower |
| • A processing fee of 1% applies |
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• Exclusively for RHB Renovation Loan customers |
• Loan amount up to 6 times* your monthly salary or S$120,000 whichever is the lower
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• Flexible repayment period from 1 to 5 year |
• A processing fee of 1% applies |
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Attractive Interest Rates Packages
• Choice of Flat Rate or Monthly Rest packages on your Renovation Loan
RENOVATION LOAN - FLAT RATE PACKAGE |
Loan Tenure
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Loan Amount
$10,000 to $14,999
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Loan Amount
$15,000 to $30,000
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Estimated Monthly Repayment |
Approved Loan Amount |
Interest
Rate (p.a.) |
Effective Interest
Rate (p.a.)# |
Interest
Rate (p.a.) |
Effective Interest
Rate (p.a.)# |
$12,000 |
$15,000 |
$20,000 |
1 year |
3.68% |
8.53% |
2.98% |
7.27% |
$1,037 |
$1,288 |
$1,716 |
2 years |
3.68% |
7.83% |
2.98% |
6.55% |
$537 |
$662 |
$883 |
3 years |
3.68% |
7.53% |
2.98% |
6.26% |
$370 |
$454 |
$605 |
4 years |
3.68% |
7.35% |
2.98% |
6.09% |
$287 |
$350 |
$466 |
5 years |
3.68% |
7.21% |
2.98% |
5.97% |
$237 |
$287 |
$383 |
RENOVATION LOAN - MONTHLY REST PACKAGE |
Loan Tenure
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Loan Amount
$10,000 to $14,999
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Loan Amount
$15,000 to $30,000
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Estimated Monthly Repayment |
Approved Loan Amount |
Interest
Rate (p.a.) |
Effective Interest
Rate (p.a.)# |
Interest
Rate (p.a.) |
Effective Interest
Rate (p.a.)# |
$12,000 |
$15,000 |
$20,000 |
1 year |
5.98% |
7.79% |
5.38% |
7.19% |
$1,033 |
$1,287 |
$1,716 |
2 years |
5.98% |
6.90% |
5.38% |
6.31% |
$532 |
$661 |
$881 |
3 years |
5.98% |
6.59% |
5.38% |
5.99% |
$365 |
$452 |
$603 |
4 years |
5.98% |
6.43% |
5.38% |
5.84% |
$282 |
$348 |
$464 |
5 years |
5.98% |
6.34% |
5.38% |
5.74% |
$232 |
$286 |
$381 |
• Low interest rate from 6.5% p.a. on monthly rest basis for Furnishing Loan
FURNISHING LOAN - MONTHLY REST PACKAGE |
Estimated Monthly Repayment |
Tenure |
Approved Loan Amount |
Interest
Rate (p.a.) |
Effective
Interest
Rate (p.a.)# |
$12,000 |
$15,000 |
$20,000 |
1st Year |
2nd Year onwards |
1st Year |
2nd Year onwards |
1st Year |
2nd Year onwards |
1 year |
1st Year: 6.5%
2nd - 5th Year : 7% |
8.31% |
$1,036 |
N.A. |
$1,295 |
N.A. |
$1,726 |
N.A. |
2 years |
7.67% |
$535 |
$536 |
$668 |
$670 |
$891 |
$894 |
3 years |
7.44% |
$368 |
$370 |
$460 |
$462 |
$613 |
$617 |
4 years |
7.33% |
$285 |
$287 |
$356 |
$359 |
$475 |
$478 |
5 years |
7.25% |
$235 |
$238 |
$294 |
$297 |
$392 |
$396 |
Eligibility
• Singaporean or Singapore Permanent Resident
• 21 to 55 years old
• Main Applicant must be earning at least S$24,000 per annum
• Joint Applicant (if any) must be gainfully employed and a spouse, parent, sibling, or child of the Main
Applicant
• Either the Main or the Joint Applicant must be the owner of the property to be renovated
Documents Required
a) A copy of your contractor’s quotation/Invoice duly signed by Applicant(s) and Contractor(s)
b) Photocopy of NRIC (both sides)
c) Proof of Income:
Salaried Person:
i) Latest original payslip AND
ii) Income Tax Notice of Assessment or CPF statement for past 6 months
Self-Employed:
i) Latest original Income Tax Notice of Assessment for the past 2 years
d) Proof of ownership on property to be renovated e.g. HDB Letter of Approval/Flat Information, CPF
Property Withdrawal Statement, Certificate of Title (for private property), Sales and Purchase
Agreement, property tax bill, etc.
e) For joint application: Proof of relationship for joint application e.g. marriage/birth certificates
g) For Furnishing Loan : Copy of receipt/invoice of fittings purchased under the Main Applicant’s Name for
disbursement of loan
| Important Information |
 Processing Fee |
 1% of the approved loan amount |
| Disbursement Fee |
Free 1st Cashier’s Order for disbursement to your contractor
Subsequent Cashier’s Orders are chargeable at $10 each
A maximum of 3 Cashier’s Orders allowed |
| Late Payment Fee |
5% above Prime Lending Rate (currently at 5.70%) on any overdue instalment |
| Cancellation Fee |
1% on the loan amount cancelled (maximum $200) |
| Full Repayment
Fee |
2% on the outstanding loan amount |
| Partial Prepayment Fee |
2% on the prepaid amount |
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