Reno Pro has compiled some information on CIMB Renovation Loan in Singapore for your convenience. We love to make the process for your easier and convenient.
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| Bank | Loan Term | Interest Rate (per annum) | Processing Fee | Minimum Annual Income | Citizenship | Age Requirement | Additional |
|---|---|---|---|---|---|---|---|
| | Choice of 1 - 5 Years | 2.98% - 4.44% Monthly Rest EIR 4.58% | 1% of Approved Loan | SGD24,000 for Single and/or Joint Applicants Joint Applicant must be a spouse, parent, sibling or child | Singaporean & Singapore PR | 21 - 50 Years Old | Loan up to 6 times your monthly income (capped at SGD30,000 or whichever is lower) |
Notes
- A Guarantor is not required for all listed Renovation Loans indicated above
- EIR = Effective Interest Rate
- Effective Interest Rate: Reflects the total cost charged for taking the loan
- Monthly Rest Rate: Interest is charged based on the previous month's outstanding loan
- Flat Rate: Interest is charged on the original loan amount