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Reno Pro has compiled information for you on Maybank Renovation Loan in Singapore for your convenience.

For a customized Renovation Quotation, Request a Quotation from us now!

Try our Mortgage and Loan Calculator! Interest computed is based on Monthly Rest and not Flat Rate.

Loan Calculator Mortgage Calculator
Mortgage CalculatorLoan Calculator
SGD
years
%

Bank Loan Term Interest Rate
(per annum)
Processing Fee Minimum Annual Income Citizenship Age Requirement Additional
Maybank
Choice of
1 - 5 Years
Maybank Home Loan Customers 3.88%
Monthly Rest

Non-Maybank Home Loan Customers 5.38%
Monthly Rest
1% of Approved Loan SGD30,000 for Single Applicant

Joint Applicant SGD24,000 (for main applicant) must be gainfully employed (must be a spouse, parent, sibling or child)
Singaporean & Singapore PR 21 - 60
Years Old
Loan up to 6 times your monthly income (capped at SGD30,000 or whichever is lower)
Maybank
Choice of
1 - 5 Years
Loan Term of 1 - 5 Years

2.98%
Flat Rate
1% of Approved Loan SGD30,000 for Single Applicant

Joint Applicant SGD24,000 (for main applicant) must be gainfully employed (must be a spouse, parent, sibling or child)
Singaporean & Singapore PR 21 - 60
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.

CONTACT US

Questions? We will love to hear from you!

Email: info@singaporerenovationcontractor.com

Mobile: +65 8816 7521

No obligations meet up to view your property

We will be happy to arrange a meet up with you to have a look at your property and discuss more if you have more reno plans or require Interior Design services.