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Which Bank offers the Lowest Renovation Loan Package?

Bank-offers-the-Lowest-Renovation-Loan
If you are thinking of getting a renovation loan, this post should prove helpful!
 
Based on the loan amount of $30,000, I have compiled a simple table which lists down the renovation loan packages offered by banks such as DBS, OCBC, CIMB, RHB and Maybank.
 
 
 
Renovation Loan Tip
#1 
If you have an existing mortgage loan with any of these banks, you should be able to secure a more attractive renovation loan package!
 
 
 
Renovation Loan Tip
#2 
This is the list of documents needed when you apply for the renovation loan!
 
NRIC of all applicant(s)
Income documents of all applicant(s)
Proof of relationship between main and joint applicants (required for joint application only)
Original Renovation Quotation or Invoice, signed by customer and contractor
Proof of ownership of property to be renovated
 
For salaried applicant(s)
 
Latest computerised payslip, or
Latest Income Tax Notice of Assessment, or
Past 6 months’ CPF Statement of Account
 
For self-employed applicant(s)
 
Last 2 years’ Income Tax Notice of Assessment
 
 
Lastly, please note that this compilation is meant as a reference only.
It is highly recommended that you check with the bank for the actual monthly repayment amount based on its prevailing interest rates.
 
Please click on the following picture to download the excel file compilation
 
Renovation-loan-comparison


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