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| Personal : Loans
> Renovation
Loan |
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| Eligibility |
- Singapore Citizen
or Permanent Resident
- Minimum 21 years of age
- Minimum income of S$30,000 p.a. for Main Applicant OR
- Minimum income of S$20,000 p.a. for Main Applicant, subject to a minimum combined income of S$30,000 p.a. with the Joint Applicant
- The Joint Applicant must be the parent, child, spouse or sibling of the Main Applicant
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| Benefits |
| Make our Renovation Loan your choice and enjoy: |
- Attractive interest
rates
- Loan amount of up to 6 times your monthly income, S$30,000 or contractor's
quotation, whichever the lowest
- Additional loan amount of up to 4 times your monthly income from MyLOAN and Maybankard Visa Platinum
- Loan tenure of between 1 to 5 years (maximum age 60 upon loan maturity)
- For just 1% on approved loan amount, the Main applicant is covered under Maybank RenoWise Insurance Scheme.
- If you are our Home Loan customer, you can enjoy a first year interest-free Renovation Loan ("Loyalty Benefit") for a loan amount of up to S$10,000. You can also apply for your Renovation Loan together with your Home Loan and obtain an In-Principle Approval on your Renovation Loan for greater ease of mind.
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| Documents required |
| 1. Photocopy of Applicant(s)'s NRIC (front and back) |
| 2. Income Documents |
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For Salaried Person:
Latest computerised payslip OR
Latest Income Tax Notice of Assessment OR
Past 6 months CPF Contribution History |
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For Self-Employed:
Latest 2 years Income Tax Notice of Assessment AND
Past 6 months CPF Contribution History |
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| 3. Original Renovation Quotation / Invoice duly signed by customer and contractor |
| 4. Proof of ownership of property to be renovated |
| 5. Proof of Relationship between Main & Joint Applicants (Only applicable for joint application) |
| 6. Photocopy of bank statement or passbook (only applicable for Applicants qualifying under combined income of S$30,000 p.a.) |
| 7. For refinancing of existing renovation loans, please furnish documents (1) and (2), as well as |
- Existing bank's Original Letter of Offer / Approval Letter AND
- Existing bank latest Original Renovation Loan Statement of Account
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| Note: Incomplete forms or applications not accompanied by the required documents will cause a delay in processing. The bank reserves the right to request for more documents. |
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Turn your renovation
ideas into reality and give your home the designer's touch
now!
You can apply through one of these simple and hassle-free steps!
1. Download and complete our Application Form and send/fax it to us with the necessary documents to:
Maybank Direct Banking Channel - PF Team
Maybank Tower, 2 Battery Road
Singapore 04997
Fax : 65572164
2. Make an appointment with our Personal Finance Executives
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Copy
of the Terms
and Conditions (effective May 2008) may be downloaded
or obtained from any of our 22 Branches.
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| Click here to download |
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