Home Renovation Loan

With a Maybank Home Renovation Loan, it's never been easier to turn your house into the home of your dreams. We offer you flexible financing options with competitive rates, hassle-free approval and sound financing advice from a dedicated team of loan specialists. This gives you a peace of mind to focus on what matters most - renovating your home.

APPLY ONLINE NOW

Online Loan Application Campaign

Apply for Home Renovation Loan online and enjoy a 50% discount of the processing fee, capped at S$150 per approved loan application.*

Click the “Apply Online Now” button!

Please note that only monthly rest package is available via the online loan application platform.

* Valid till 31 October 2016. Terms and conditions apply.

Promotional Interest Rate at 5.18% p.a. (monthly rest)

Enjoy promotional interest rate at 5.18%p.a. (monthly rest) for minimum loan amount of S$15,000 with a 4-year or 5-year loan tenure.+

+ Valid till 21 September 2016. Terms and conditions apply.

Benefits

  • Choice of flat rate or monthly rest packages
  • Loan amount of up to 6X your monthly income or S$30,000, whichever is lower
  • Loan tenure of up to 5 years
  • Exclusive Home Renovation Loan package for Maybank Home Loan customers#
#Terms and conditions apply. Not valid in conjunction with other campaigns or promotions, including Online Loan Application Campaign.

Illustration for monthly instalment

Loan Amount: S$15,000
Promotional Interest Rate: 5.18% p.a. (monthly rest)^

Loan Tenure [number of year(s)]
Estimated Monthly Instalment (S$)1
4
346.66
5
284.31

Loan Amount: S$15,000
Interest Rate: 5.38% p.a. (monthly rest)

Loan Tenure [number of year(s)]
Estimated Monthly Instalment (S$)1
1
1,286.73
2
660.63
3
452.13
4
348.03
5
285.69

Important points to note:
The above monthly instalment calculations are for illustration purposes only and does not constitute a loan offer.
A 1% processing fee on approved loan amount will be nett off from the disbursed loan amount.
1The figures are computed based on the interest rate quoted above and are subject to change.
^Valid till 21 September 2016. Terms and conditions apply.

Eligibility

  • Singapore Citizen or Singapore Permanent Resident
  • Minimum 21, maximum 60 years of age upon loan maturity
  • Minimum Income
    • Sole applicant - S$30,000 p,a
    • Joint applicant - S$24,000 p,a, (for main applicant). Joint applicant must be a parent, child, sibling or spouse of Main Applicant.

Documents required

  • NRIC (front and back) of all applicant(s)
  • Income documents of all applicant(s)
    For salaried person
    • Latest computerised payslip, or
    • Latest Income Tax Notice of Assessment, or
    • Past 6 months' CPF Statement of Account
    For self-employed person/commision-based earner
    • Last 2 years' Income Tax Notice of Assessment
  • Original Renovation Quotation or Invoice, signed by customer and contractor
  • Proof of relationship between main and joint applicants (required for joint application only)
  • Proof of ownership of property to be renovated
  • For refinancing of existing renovation loan, please furnish the following:
    • Applicant(s)' NRIC
    • Income documents
    • Existing bank's Original Letter of Offer/Approval Letter, and
    • Existing bank's latest Original Renovation Loan Statement of Account

Note: Incomplete applications which are not accompanied by the required documents will cause a delay in processing. Maybank reserves the right to request for more documents when necessary.

Terms and Conditions

Renovation Loan Terms & Conditions (PDF)

Online Loan Application Campaign Terms & Conditions (PDF)

General Terms & Conditions (PDF)