- Singapore Citizen or Singapore Permanent Resident
- 21 years old and not exceeding 60 years old upon loan maturity
- Single application : Minimum $30,000 annual income, must be an owner of the property to be renovated
- Joint application : Minimum $48,000 combined annual income (main applicant annual income at least $30,000)
- Joint applicant must be the parent, child, spouse, fiancé, fiancée or sibling of the main applicant
- At least one of the applicants must be the owner of the property to be renovated
Get ready your Singpass account and these documents to speed up your online application.
- Renovation quotation in pdf format
- Proof of ownership of the property to be renovated in pdf format
- Please update your personal particulars on the Singpass platform before proceeding with your application.
- All applicant (s) are required to complete the application within 5 calendar days from the date the application was first saved by the main applicant, otherwise a new application will be required.
- Please save your application by clicking on the “Save” button located at the bottom of each page.
- It is recommended to use Google Chrome browser for the application.
- With Singpass and documents prepared in advance, the application form will takes approximately 10 minutes to complete.
- All correspondences will be sent to the main applicant’s email and mailing address
- Only monthly rest package is available for this application
- All applicant (s) with Singapore-registered mobile numbers will receive SMS and e-mail notifications relating to the application
By clicking on the “Retrieve Myinfo with Singpass” button below, I confirm that I have read, understood and agree to these Terms & Conditions.
- Terms and Conditions of Access
- Terms and Conditions of Internet Banking Services
- Terms and Conditions of Integrated Maybank2u Services
- Personal Data Protection Act (PDPA) and Marketing Consent
- Terms and Conditions for Banking Facilities
- Terms and Conditions Governing Renovation Loan Facility
Fees & Charges
- Processing Fee: 1.00% of loan amount.
- Cancellation Fee: 1.00% of undrawn or cancelled amount minimum $100
- Prepayment / Full Redemption Fee: 1.00% of amount prepaid or redeemed minimum S$100. A minimum notice period of 1 month or payment of interest in lieu is required.
- For Prepayment only: Each prepayment shall be made in multiples of $1,000, with the prepaid amount not more than 50% on the original approved loan amount and the outstanding loan does not fall below $5,000 after the prepayment.
- Cashier’s Order: Prevailing fees and charges as listed in the Pricing Guide are applicable in the event reissuance of CO due to loss/damage/expired.
- Late Charge: $60 per month if account is in arrear
- Default Interest : Renovation Loan Board Rate [RBR] + 3%p.a. (min S$20) on amount in arrears.