Win 0% Interest + Get Up to S$1,749 In Rewards

#YourBestSpace: Build Your Dream Home – We'll Cover the Interest

Renovate Without the Stress. Upgrade your space—from kitchens to WFH zones—we’ll handle the bill.

Explore Renovation Loans

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Win 0% Interest + Get Up to S$1,749 In Rewards

#YourBestSpace: Build Your Dream Home – We'll Cover the Interest

Renovate Without the Stress. Upgrade your space—from kitchens to WFH zones—we’ll handle the bill.

Explore Renovation Loans

Why Consider a 

Loan for Renovation?

Creating your dream home doesn’t have to wait. Renovation loans help spread the cost of major upgrades with predictable monthly repayments. Common uses include:

  • 🔨 Kitchen & bathroom upgrades
  • 🗄️ Built-in wardrobes & storage
  • 💡 Lighting, flooring, & smart appliances
  • ✏️ Interior design & styling fees
  • 🎁 Exclusive rewards from SingSaver

How Can a Loan Help You With Your Renovation?


A renovation loan gives you the confidence and financial clarity to upgrade every corner of your 4‑room Build-To-Order flat. Here’s how it can help:

Kitchen
Transform your kitchen into a gourmet haven
S$10,000–S$25,000
living room
Design a modern living room space
S$6,000–S$12,000
bathroom
Upgrade bathrooms for comfort and convenience
S$8,000–S$15,000
bedroom
Revamp bedrooms for relaxation and storage
S$5,000–S$10,000 per room
flooring
Refresh flooring and walls throughout the flat
S$8,000–S$15,000
storage
Add custom storage and concealed carpentry
S$4,000–S$8,000

Please note that the cost examples shown are estimates and may vary based on individual circumstances and current rates.

So How Much Does An “Average” Renovation Costs? With Free Interest.

Just received the keys to your 4-room BTO flat and planning your move-in in 12 months? Here’s how much you’d need to save each month—assuming a 9% GST rate (as of May 2025):

S$43,600 (minimum + GST)
÷
12 months
=
S$3,630 a month

Curated Personal Loan

Get up to S$1,749 when you apply for an HSBC Personal Loan with instant approval!

🏷️ Receive a S$10 Shopee Voucher when you complete and submit an eligible application. T&Cs apply
Provider   Highest Reward Annual Interest Rate  EIR Processing Fee
image_url_2023-08-02_Trust SA logo test Apply Now 🎁 Apple iPad Air (worth S$1,429) 2.22% p.a. 4.22% p.a. S$0
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Default Repayment $50000 to be repaid in 36 months
$
edit
$ 30,000
$ 50,000
mth
edit
36 mth
60 mth
Loan Approval in 60 Seconds Flexible Repayment

Trust Bank Instant Loan

Trust Bank Instant Loan
Monthly repayment S$
Annual Interest Rate
 %
EIR
 % p.a.
Total repayment
S$

2 Offers Available

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02 June 2025

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DBS Personal Loan

DBS Personal Loan
Monthly repayment S$
Annual Interest Rate
 %
EIR
 % p.a.
Total repayment
S$

2 Offers Available

SingSaver #YourBestInterest Lucky Draw
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02 June 2025

Exclusive Offer
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EXCLUSIVE DEAL THAT YOU WON'T FIND ELSEWHERE Instant Approval Up To 7-Year Tenure Instant Loan Disbursement

HSBC Personal Loan

HSBC Personal Loan
Monthly repayment S$
Annual Interest Rate
 %
EIR
 % p.a.
Total repayment
S$

2 Offers Available

SingSaver #YourBestInterest Lucky Draw
Get 1x chance to have your interest covered!
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Valid until

02 June 2025

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+ 9 other gift options

Valid until

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CIMB Personal Loan

CIMB Personal Loan
Monthly repayment S$
Annual Interest Rate
 %
EIR
 % p.a.
Total repayment
S$

2 Offers Available

SingSaver #YourBestInterest Lucky Draw
Get 1x chance to have your interest covered!
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Valid until

02 June 2025

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Apple iPhone 16 Pro 128GB (worth S$1,599)
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+ 9 other gift options

Valid until

02 June 2025

👷🏼 

What is a Personal Loan for Renovation & How Does It Work?

Renovation loans in Singapore typically offer loan amounts up to 6 times your monthly income, often capped at S$30,000 or S$50,000, depending on the bank and your creditworthiness. The loan tenure, or repayment period, usually ranges from 1 to 5 years, allowing you to spread out your repayments over a manageable timeframe.

Interest rates for renovation loans vary depending on the lender, loan amount, tenure, and your credit profile. It's crucial to compare interest rates and repayment terms from different banks and financial institutions to secure the most competitive offer. 

 

Consideration When Taking a Loan for Renovation:

Fixed monthly payments
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Personal loans come with fixed monthly payments, making it easier to budget and plan your finances. You'll know exactly how much you need to set aside each month, giving you peace of mind and financial stability.

Fast funding
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Need to get your renovation project started quickly? Personal loans offer fast approval and funding, often within a day or two. This can be a major advantage compared to other financing options that may take weeks to process.

No collateral required
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Unlike home equity loans or lines of credit, personal loans are unsecured. This means you don't need to put up your property as collateral, reducing the risk for homeowners.

Here's Your Chance to Win Your Entire Loan Interest Paid For! 🎉

Step 1

Step 1：Apply
Ensure your loan amount is at least S$20,000 with a minimum tenure of 3 years to be eligible.

Step 2-2

Step 2：Submit
Complete the redemption form within 3 days of your application.

Step 3

Step 3：Weekly Draw – Win Interest-Free!
Once your loan is approved, you’ll receive the SingSaver reward you selected during redemption — plus, stand a chance to have your full interest covered (worth up to S$3,000)!
T&Cs apply

Apply & Win

🕵️ 6 Tips for Choosing the Best Loan for Renovation in Singapore

compare

Compare both the flat interest rate and the effective interest rate (EIR) 

hiddenfee

Ensure the monthly payments fit comfortably within your budget.

pick

Choose a loan tenure that balances affordable monthly payments with the overall interest paid.

lookperks

Check that you meet the lender's income and residency requirements.

calculator

Confirm the loan amount meets your project requirements.

review

Research the lender's reputation and customer service reviews.

💰 Personal Loan for Renovation Articles & Planning Tips

Read the latest news about renovation loan in Singapore and the best money saving tips.

View More Articles

💬 Real Stories & Expert Advice

Design meets practicality – hear from homeowners who transformed their space, and get trusted advice from the experts who make it possible.


Expert Advice >
  • Renovation loans allow homeowners to upgrade their lifestyle while maintaining liquidity for emergencies or future plans.
  • Just be sure to assess your monthly repayment comfort zone.
  • Renovation delays often stem from funding issues. With a well-timed loan disbursement, you can ensure project continuity and reduce downtime.
Financially Secure

"We wanted a fresh start for our 4-room BTO, but didn’t want to empty our savings. SingSaver helped us figure which loan to take and gave us the room to renovate and still feel financially secure."

Amanda & Darren, Tampines
Budgetting

"The kitchen and living room were top of my list. SingSaver helped us find a loan that fit our timeline and budget perfectly."

Mei Lin, Bukit Panjang
Fast Deposit

"Our ID needed a fast deposit to start work. SingSaver helped us narrow down our options and move ahead confidently without cutting corners on design."

Hassan & Farah, Punggol

Need help with personal loan for your renovation?

We know diving into a personal loan can feel overwhelming—that’s why we’ve answered your most common questions and broken down each step, so you can plan your dream home with confidence.

📘 Glossary of Personal Loan Terms

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Term What It Means
Principal The original loan amount you borrow, excluding interest and fees.
Interest Rate The percentage charged on the principal amount, usually quoted as an annual rate (p.a.).
Effective Interest Rate (EIR) A more accurate reflection of the true cost of the loan, including processing fees and how the interest is calculated on a reducing balance.
Flat Interest Rate Interest is calculated on the full loan amount for the entire tenure, not on the reducing balance. Usually results in higher overall cost.
Tenure The duration over which you’ll repay the loan, typically ranging from 1 to 5 years.
Monthly Instalment The fixed monthly payment that includes a portion of the principal and interest.
Total Debt Servicing Ratio (TDSR) A regulation that limits your total monthly debt obligations to 55% of your gross monthly income.
Unsecured Loan A loan that does not require collateral, such as a renovation or personal loan.
Processing Fee A one-time administrative charge (typically 1–2%) deducted from the approved loan amount.
Disbursement The release of loan funds to your bank account or directly to a vendor (e.g. contractor).
Early Repayment Fee A fee charged if you repay the loan in full before the end of the agreed tenure.
Late Payment Fee A penalty charged if you miss or delay a monthly instalment.
Credit Score A rating based on your credit history that lenders use to assess your loan eligibility and risk.
Guarantor A third party who agrees to repay the loan if the borrower defaults (rare for personal loans, more common in education loans).
Revolving Credit Facility (RCF) Unlike a personal loan, an RCF lets you borrow repeatedly up to a set limit (e.g. credit card or credit line).
Debt Consolidation Plan (DCP) A structured program that combines multiple high-interest debts into one manageable loan.
Letter of Offer A formal loan approval document outlining the terms, conditions, and disbursement details.

How to Apply & What Are the Requirements?

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To apply, make sure you:

  • Are a Singapore citizen or PR, aged 21–65

  • Have a minimum annual income of S$20,000–30,000

  • Prepare your:

    • NRIC

    • Income proof (CPF/payslips)

    • Proof of employment

How do personal loans work?

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A personal loan provides you with a lump sum of money that you repay with interest over a set period. You'll make regular monthly repayments until the loan is fully repaid.

How long does it take to get a personal loan?

expand_more

When it comes to how long it takes to get a personal loan, approval and disbursement time can vary between lenders. Some lenders offer same-day or next-day approval and disbursement, while others may take a few days to process your application. However, before taking on a loan, it is important to know if you’re eligible. Pre-qualify with SingSaver to save time and avoid applying for loans you’re unlikely to get.

Can foreigners get a loan in Singapore?

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Yes, foreigners can apply for personal loans in Singapore, but they may have to meet additional eligibility criteria, such as having a valid work pass and a minimum income.

How does a personal loan affect your credit score?

expand_more

Taking out a personal loan can affect your credit score in both positive and negative ways. Making timely repayments can improve your credit score, while late payments or defaulting on the loan can negatively impact your score. 

Ready to Make Your Dream Home Happen?

 

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