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Renovation Loan

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

Benefits

•   Attractive Interest Rates: Choose between our Flat Rate Package from as low as 2.98% p.a. (effective     rates inclusive of 1% processing fee range from 5.97% to 7.27% p.a., depending on loan tenure) or     Variable Rate Package from as low as 5.38% p.a. (effective rates inclusive of 1% processing fee range     from 5.74% to 7.19% p.a.) .
•   Loan amount of up to six times* your monthly salary: You can borrow up to six times* your monthly income     or $30,000, whichever is lower. What’s more, if you require additional financing for home furnishing, you     may choose to apply for Furnishing Loan or Preferred Credit.
•   Flexible Loan Repayment Period: With a choice of loan tenure from one to five years, you will enjoy flexible     repayment period that is right for you.
•   No collateral required: Enjoy a hassle-free and easy application with no collateral required.
•   Free Group Personal Accident Insurance: You will enjoy free insurance coverage to pay your outstanding     renovation loan in the event of death or total permanent disability (for main borrower)

Furnishing Loan

As a RHB Renovation Loan customer, you will be eligible for Furnishing Loan for your home furnishing needs at exclusive rates.

Benefits

•   Exclusive rates: Enjoy low effective rates from 7.25% p.a. on your Furnishing Loan
•   Loan amount up to six times^ your monthly salary: You can borrow up to six times^ your monthly income or     $120,000, whichever is lower.
•   Flexible Loan Repayment Period: With a choice of loan tenure from one to five years, you will enjoy flexible     repayment period that is right for you.
•   No collateral required: Enjoy a hassle-free and easy application with no collateral required.

Others • Renovation Loan for commercial property registered under personal name is also available Eligibility • Singaporean or Singapore PR • 21 to 55 years old • For main applicant, Annual income must be at least S$24,000 • Joint Applicant must be a spouse, parent, sibling, or child of the main applicant. (Please submit proof of relationship between the main and joint applicants) Documents Required • Photocopy of NRIC (both sides) of all applicants/guarantor • Proof of Income: • Salaried Person: 1) Latest original payslip AND 2) Income Tax Notice of Assessment OR CPF statement for past 6 months • Self-Employed: 1) Latest Income Tax Notice of Assessment OR CPF statement for last 2 years • Proof of Relationship (Compulsory for application with joint applicants) • Original copy of Contractor’s Quotation/ Invoice duly signed by contractor and customers • Proof of ownership of property to be renovated • Furnishing Loan - Original Receipt/Invoice of fittings purchased are required before loan drawdown Important Information • A processing fee of 1% of the approved loan is payable in cash upon signing of Letter of Offer • For loan disbursement, a cashier’s order payable to the contractor(s) will be issued. Charges for the first cashier’s order is waived and subsequent cashier’s orders are chargeable at $10 each. Only a maximum of 3 cashier’s orders are allowed • You are required to open a RHB Account for monthly instalment debiting upon successful application

For more information, call 1800 323 0100 or 62253111, email us or visit our branches.


* Terms and conditions apply. Rates are subject to change from time to time. ^ Furnishing Loan: For annual income of between $20,000 to $29,999, the total loan amount will be up to two times your monthly income. For annual income of between $30,000 to $119,999, the total loan amount will be up to four times your monthly income. For annual income of $120,000 and above, the total loan amount will be up to six times your monthly income. The total loan amount will be capped up to the respective limits or an amount RHB may in its absolute discretion determine.