cimb-bank-renovation-loan-singapore

 

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.

If you have yet to, contact us to Request a Quotation now!

Try our Mortgage and Loan Calculator! Interest computed is based on Monthly Rest and not Flat Rate.
Loan Calculator Mortgage Calculator
MortgageLoan
SGD
years
%
Bank Loan Term Interest Rate
(per annum)
Processing Fee Minimum Annual Income Citizenship Age Requirement Additional
CIMB
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
Usually, flat rate interest is lower than monthly rest but it does not mean that you pay less interest. What should be considered is the effective interest that you need to pay and the total interest for the renovation loan that you take up. Disclaimer For precise information based on your unique needs, please contact the relevant banks. Rates are subject to changes and promotions. Reno Pro's loan calculator is only a guideline. Please confirm with the relevant bank for final figures. Information is accurate as of 15 Nov 2016.

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