Get the Best Renovation Loan

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1. Your Renovation Loan Needs


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Yes     No

I/We meet the minimum annual income criteria of $24k/year ($2k/mth)

2. Your Contact Information

Country Code   Mobile No. 1st time users will get a one-time verification SMS

SmartLoans will help you connect to the best bank for renovation loans. We respect your privacy, your personal data will never be given to 3rd parties without your consent.

I agree and consent to you disclosing my information herein to the referred bank of your choice and for the bank or its representatives to call, SMS or email me with regards to this enquiry.


Finding you the best Renovation Loan
in Singapore

If you’re looking for a renovation loan, SmartLoans is here to help. Get a free email report that ranks the top 3 banks in Singapore for renovation loans, based on their interest rates and benefits. To make life even easier for you, we will also connect you directly with a renovation loan specialist from the top bank. Get your free email report now by filling in the form to the right.

What are the loans available when I plan for my home renovations?

You need a home renovation loan to give you the financial capability to finance your overall renovation budget. Subsequently, you may look into home furnishings and electrical items thus you need a home furnishing loan to complete your renovations.

Do I qualify for a renovation loan?

You need to be property owner, either a Singaporean or a Singaporean PR, between the 21 to 55 years. You must have a minimum monthly income of $2,000. If you apply with a joint applicant, the joint applicant has to be your spouse, parent, sibling or child.

What is the minimum & maximum loan amount I can get for my renovation loan?

The minimum loan amount is $10,000. The maximum loan amount is typically 6x your monthly income, up to a maximum of $30,000. Some banks provide an additional "furnishing loan" to supplement your renovation loan and provide an additional 4x your monthly income for furnishing loan.

These days, it is common for homeowners who meet the eligibility criteria to apply for renovation loans individually; thus enabling them to have a bigger budget for the home renovations and furnishings, depending on the scope of works and furnishing items required.

What is the minimum & maximum loan tenure for my renovation loan?

Your loan tenure can be anywhere from 1 to 5 years. Some banks offer free insurance coverage against accidental death or total permanent disability during your loan repayment period.

Are there any extra charges from the bank?

Once your loan application is approved, the banks will charge a processing fee of about 1-2% (of your loan amount). This is payable to the bank upon signing the letter of offer

What are the documents required to apply for a renovation loan?

  • Photocopy of NRIC (both sides)
  • For salaried person: Latest computerized payslip or CPF contribution history statement for the past 12 months or latest Income Tax Notice of Assessment
  • For self- employed: Latest 2 years Income Tax Notices of Assessment
  • Contractor's quotation / invoice duly signed by customer and contractor
  • Proof of ownership of property to be renovated: HDB Flat Information or CPF Property Withdrawal Statement
  • Original receipts / invoices of fittings purchased (applicable for furnishing loan only)
  • Completed application form duly signed by applicant(s)

What is the lowest interest rate I can get for my renovation loan?

Banks revise their renovation loan rates from time to time. SmartLoans scans the various renovation loan packages offered in today's market and generates an email report for you that states the latest renovation loan rates from the top 3 banks in Singapore. The top 3 banks are chosen based on the lowest interest rates (among other features and benefits). Fill in the form on the right to get your free report now. It’s that easy!