DBS Renovation Loan
Interest Rate
Processing Fee
Monthly Repayment
Loan Amount
Loan Tenure
With DBS Renovation Loan’s hassle-free online application, you can fund your dream space revamping with a loan amount up to 6x your monthly salary at a competitive interest rate as low as 3.88% p.a. (EIR 3.63% p.a.). Comfortably repay with a long-term repayment period of up to 5 years.
ALL DETAILS
Key Features
- Enjoy interest rates from 3.88% p.a.!
- Repayment period of your choice from 1-5 years
- The loan amount ranges up to S$30,000 or six times your monthly income (whichever is lower)
- Comes with comprehensive insurance coverage (1% of the approved loan amount)
- Renovation Loan is applicable for :
- Installation of Solar Panels
- Electrical and wiring works
- Built-in cabinets
- Painting and redecorating works (e.g. wallpaper)
- Structural alterations
- External works within the compound of the house
- Flooring and tiling
- Basic bathroom fittings
Eligibility
| Citizenship Status | Singaporean / PR |
| Age Requirement | 21 – 65 years old |
| Employment Status | Salaried / Self-employed |
| Minimum Annual Income | S$24,000 |
Other Fees and Charges
| Processing Fee | 1% of the approved loan amount + 1% of insurance premium |
| Cancellation Fee | 1% |
| Full Repayment Penalty | 1% of outstanding loan amount |
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