Loans

Renovation Loan

Financing for home renovation and repair works.

Financing for renovation works, whether that is fitting out a new flat or dealing with something that has failed and cannot wait. Banks and licensed moneylenders both offer renovation financing on different terms, and it is worth comparing: bank renovation loans are often cheaper if you qualify and can wait for approval. We are useful where you do not, or cannot.

Who this suits

Homeowners fitting out a newly collected flat
Anyone facing urgent repair works such as plumbing or electrical faults
Borrowers topping up a shortfall on an existing renovation budget

What to bring

NRIC, FIN or passport
Proof of income, such as payslips, a CPF contribution history or your Notice of Assessment
Proof of residential address
Details of existing credit obligations, if any
Renovation quotation or contractor invoice, if available

Key considerations

Interest is charged monthly on the reducing balance, up to the regulated cap
An administrative fee applies once, at disbursement, and is deducted from the amount you receive
Total charges can never exceed the principal you borrowed
Borrow only an amount and tenure you are confident you can repay
Late payment adds a fee and additional interest on the overdue amount only
Bank renovation loans may cost less if you qualify and can wait for approval; it is worth comparing

Questions

Do you pay the contractor directly?

No. Funds go to you as the borrower and you pay your contractor. Never hand loan documents or identity documents to a contractor to arrange financing on your behalf.

Should I use a bank instead?

If you qualify for a bank renovation loan and the timeline suits you, it will usually cost less. We would rather you compared than assumed.

Moneylender Licence No. 46/2026. Approval is not guaranteed and is subject to assessment. Interest, fees and final terms are confirmed solely in the final signed loan agreement.