RHB

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Renovation LoanThe complete package for your home renovation and furnishing needs.

BENEFITS
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High Loan Quantum

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Interest Rate Package

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Exclusive Furnishing Loan* Available

BEFORE YOU APPLY
Fees and charges
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 undrawn loan amount cancelled (maximum $200)
Full Repayment Fee 2% on the outstanding loan amount
Partial Prepayment Fee 2% on the prepaid amount
 
ELIGIBILITY
  • Singaporean or Singapore Permanent Resident
  • 21 to 55 years old
  • Main Applicant must be earning at least S$30,000 per annum
  • Joint applicant must earn a minimum income of at least S$30,000 for the income to be computed as part of the loan quantum.
  • 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
  1. A copy of your contractor’s quotation/Invoice duly signed by Applicant(s) and Contractor(s)
  2. Photocopy of NRIC (both sides)
  3. Proof of Income:
    • Salaried Employee:
      1. Latest Computerised Payslip OR
      2. CPF Contribution Statement for past 12 months
        OR
      3. Latest Income Tax Notice of Assessment (NOA)
    • Variable Income/Commission Based Earner:
      1. Latest 6 months Computerised Payslip OR
      2. CPF Contribution Statement for past 12 months
        OR
      3. Latest Income Tax Notice of Assessment (NOA)
    • Self-Employed:
      1. Income Tax Notices of Assessment (NOA) for latest 2 years
  4. 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.
  5. For joint application: Proof of relationship for joint application e.g. marriage/birth certificates
  6. For Furnishing Loan : Copy of receipt/invoice of fittings purchased under the Main Applicant’s Name for disbursement of loan