Best Renovation Loans in Singapore 2025 | From 1.9% Low Interest Rates

We found 14 Personal Loans for you!

Per Month

^S$849

MoneySmart Exclusive

LOWEST INTEREST RATES | FASTER FULFILMENT

Promotion ends in 5 days

Standard Chartered CashOne

Interest Rate* EIR*: From 3.63% p.a.: From 1.90% p.a.
Total Amount Payable: ^S$10,190
Processing Fee: ^S$0
Per Month: ^S$849

[LOWEST INTEREST RATE IN THE MARKET]
Enjoy one of the lowest interest rates in the market* starting from 1.90% p.a. (EIR from 3.63% p.a.)!

Choose from up to S$1,200 Cash via PayNow or gifts such as the Apple 13-inch MacBook Air (worth S$1,499), Apple 11-inch iPad Air 128GB (worth S$899), Sony PS5 (SLIM) Digital Edition (worth S$669) and more! T&Cs apply.

Valid until 08 Jun 2025 - See more details below

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Per Month

^S$857

MoneySmart Exclusive

FASTEST FULFILMENT | AS FAST AS 4 WEEKS*

Promotion ends in 5 days

UOB Personal Loan

Interest Rate* EIR: From 5.43% p.a.: From 2.88% p.a.
Total Amount Payable: ^S$10,288
Processing Fee: ^S$0
Per Month: ^S$857

[FLASH DEAL | FASTEST GIFT FULFILMENT]
Get up to S$1,200 Cash or attractive gifts worth up to S$1,399 like an Apple iPhone 16 Plus 128GB in AS FAST AS 4 WEEKS, when you apply for UOB Loan.

PLUS get additional up to S$500 Cash Bonus on top of your baseline gifts! T&Cs apply.

Valid until 08 Jun 2025 - See more details below

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Per Month

^S$857

MoneySmart Exclusive

Low Rates, No Fees, Flexible Borrowing!

Promotion ends in 5 days

GXS FlexiLoan

Interest Rates ¹ EIR: From 3.47% p.a.: From 1.88% p.a.
Total Amount Payable: ^S$10,288
Processing Fee: ^S$0
Per Month: ^S$857

[FLASH DEAL | Up to S$1,700 Cash | Lower Interest Rate Promo]
Get up to S$500 CASH BONUS on top of up to S$1,200 Cash via PayNow or attractive gifts worth up to S$1,499 (Apple 13-inch MacBook Air) and get them in AS FAST AS 2-3 MONTHS when you apply for a min. loan of S$8,000!

PLUS from 21 May - 8 June 2025, enjoy 1% OFF your Interest Rate (awarded in the form of cashback) when you apply for a S$10,000 loan with 12 month tenure with the code MSDEAL! T&Cs apply.

Valid until 08 Jun 2025 - See more details below

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Per Month

^S$852

MoneySmart Exclusive

LOAN APPROVAL IN 60 SECONDS!

Trust Instant Loan

Interest Rate* EIR: From 4.22% p.a.: From 2.22% p.a.
Total Amount Payable: ^S$10,222
Processing Fee: ^S$0
Per Month: ^S$852

Get up to S$1,200 Cash via PayNow or attractive gifts like a Apple iPhone 16 Plus, 128GB (worth S$1,399), Apple iPad Air, 128GB (worth S$899), Sony PS5 (SLIM) Digital (worth S$669) or an Nintendo Switch OLED (worth S$439) and more! T&Cs apply.

PLUS get S$10 FairPrice E-Vouchers from Trust when you sign up with the referral code MONEYSMT. Valid for New-To-Trust customers only. T&Cs apply.

Valid until 17 Jun 2025 - See more details below

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Per Month

^S$856

MoneySmart Exclusive

RICHEST OFFER

CIMB Personal Loan

Interest Rate EIR*: From 5.06% p.a.: From 2.68% p.a.
Total Amount Payable: ^S$10,268
Processing Fee: ^S$0
Per Month: ^S$856

Choose from up to S$1,220 Cash via PayNow or attractive gifts like an Apple 13-inch MacBook Air (worth S$1,499), Apple iPhone 16e (worth S$949), Sony PS5 (SLIM) Digital Edition (worth S$669), and more! T&Cs apply.

Valid until 12 Jun 2025 - See more details below

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Per Month

^S$833

MoneySmart Exclusive

No lock-in period

GXS FlexiLoan (Balance Transfer)

Interest Rate ¹ EIR: 4.13% p.a: 0% p.a.
Total Amount Payable: ^S$10,000
Processing Fee: From 1.35%
Per Month: ^S$833

[FASTEST GIFT FULFUILMENT}
Get up to S$250 Cash via PayNow or an Apple AirPods Pro 2 (worth S$349) in AS FAST AS 4 WEEKS* when you apply for a GXS Balance Transfer loan with a min. of S$8,000 with a min loan tenure of 12 months. T&Cs apply.

Valid until 30 Jun 2025 - See more details below

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Per Month

^S$852

MoneySmart Exclusive

Quick Application via MyInfo, Instant Disbursement

HSBC Personal Loan

Interest Rate* EIR: From 4.00% p.a.: From 2.20% p.a.
Total Amount Payable: ^S$10,220
Processing Fee: ^S$0
Per Month: ^S$852

Get up to S$1,000 Cash via PayNow or earn up to 12,345 SmartPoints! Use SmartPoints earned to redeem any product of your choice from our Rewards Store! T&Cs apply.

Valid until 30 Jun 2025 - See more details below

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Citi Quick Cash Program with Ready Credit

Per Month

^S$863

MoneySmart Exclusive

Citi Quick Cash Program with Ready Credit

Interest Rate EIR: From 6.50% p.a.: From 3.45% p.a.
Total Amount Payable: ^S$10,356
Processing Fee: ^S$0
Per Month: ^S$863

Get S$50 Cash or 500 SmartPoints when you apply for a loan of min. S$8,000 with min 1 year tenure through MoneySmart! T&Cs apply.

Valid until 30 Jun 2025 - See more details below

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Per Month

From S$889

Best Licensed Moneylender Personal Loan

Interest Rate EIR*: 12.82% p.a.: 12.12% p.a.
Total Amount Payable: ^S$11,212
Processing Fee: ^S$1,000
Per Month: From S$889

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Per Month

^S$950

Credible.sg Personal Loan

Interest Rate EIR: From 14.93% p.a.: From 14% p.a.
Total Amount Payable: ^S$11,400
Processing Fee: ^S$0
Per Month: ^S$950

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Per Month

^S$1,013

Friday Finance Personal Loan

Interest Rate EIR*: From 23.87% p.a.: From 21.6% p.a.
Total Amount Payable: ^S$12,160
Processing Fee: ^S$800
Per Month: ^S$1,013

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Per Month

^S$852

MoneySmart Exclusive

Quick Application via MyInfo, Instant Disbursement

HSBC Renovation Loan

Interest Rate* EIR: From 4.00% p.a: From 2.20% p.a.
Total Amount Payable: ^S$10,220
Processing Fee: ^S$0
Per Month: ^S$852

Get up to S$1,000 Cash via PayNow or earn up to 12,345 SmartPoints! Use SmartPoints earned to redeem any product of your choice from our Rewards Store! T&Cs apply.

Valid until 30 Jun 2025 - See more details below

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Per Month

^S$874

DBS Eco-aware Renovation Loan

Interest Rate EIR*: From 5.96% p.a.: From 4.88%
Total Amount Payable: ^S$10,488
Processing Fee (Approved Loan): ^S$200
Per Month: ^S$874

Per Month

^S$876

DBS Renovation Loan

Interest Rate EIR: From 6.16% p.a.: From 5.08% p.a.
Total Amount Payable: ^S$10,508
Processing Fee (Approved Loan): ^S$200
Per Month: ^S$876

Loan application

To apply for a renovation loan, you need to contact a bank or financial institution that offers such loans. You will need to provide documentation related to your renovation project, including quotations from contractors, a breakdown of the renovation costs, and other relevant details.

Eligibility criteria

Each lender sets its own eligibility criteria, but common requirements include being a Singaporean Citizen or Singapore Permanent Resident (SPR), having a stable source of income, and meeting the bank’s or lender's credit assessment criteria. The eligibility criteria may differ slightly between HDB (public housing) and private housing.

Loan amount

The maximum loan amount you can borrow typically depends on your income and creditworthiness. For HDB renovation loans, the maximum loan amount is usually capped at a certain limit or a multiple of your monthly income. Private housing renovation loans may offer higher loan amounts.

	Public Housing	Private Housing
Eligibility criteria	You must be a Singapore Citizen (SC) or Singapore Permanent Resident (PR) owning a flat from the Housing and Development Board (HDB). The flat must be at least 5 years old, and you cannot have outstanding renovation loans with HDB.	Generally open to SCs, PRs, and foreigners with valid work passes and sufficient income. Some lenders may have additional specific requirements, like minimum property value or income level.
Loan quantum and tenure	Up to S$30,000 or 6 times your monthly income, whichever is lower. Loan tenures of 1 to 5 years.	Varies, depending on the bank or MAS-authorised lender and your profile. Loan amount options are often more than the typical range when compared to loan amounts for public housing, and most loan tenures for private property renovations range from 1 to 5 years.
Interest rates	Usually lower than most renovation loans and personal loans, typically from 2.5% to 5% per annum. Interest rates are fixed for the loan tenure.	Varies, depending on the bank or MAS-authorised lender, loan amount, and tenure. Generally higher than HDB rates, starting around 3.45% with effective interest rates of up to 6.5%. May be fixed or floating rates.
Loan usage	Usually valid for: Electrical and wiring works Built-in cabinets and carpentry Painting and wallpapering Hacking and structural alterations (subject to HDB’s approval) Flooring and tiling works Sanitary fittings	Usually valid for: Installation of solar panels Other external works i.e. landscaping, etc. within the house compound (subject to Singapore Land Authority’s approval) Built-in cabinets and carpentry Painting and wallpapering Hacking and structural alterations (subject to Singapore Land Authority’s approval) Flooring and tiling works Electrical and wiring works Sanitary fittings
Loan exclusions	Usually do not cover air-conditioning, built-in electrical appliances like ovens or home furniture that you have. Some banks like RHB do offer a separate furnishing loan if you need financial help with your furniture purchase.	Usually do not cover air-conditioning, built-in electrical appliances like ovens or home furniture that you have. Some banks like RHB do offer a separate furnishing loan if you need financial help with your furniture purchase.
Prepayment fees	No prepayment fees for HDB renovation loans.	Varies, depending on the bank or MAS-authorised lender. Some banks or lenders may charge fees for early loan repayments.
Processing fees	HDB charges an administrative fee of S$25.	Varies, on the bank or MAS-authorised lender. May range from 1% to 2% of the loan amount.
Late payment fees	HDB charges late payment fees, as defined by the Moneylenders Act.	Varies, depending on the bank or MAS-authorised lender. Typically involve late interest charges and additional fees.
	*Updated 18 January 2024, based on the information provided via HDB and respective banks’ (DBS, OCBC, Maybank, Standard Chartered, HSBC, CIMB, RHB) and some of the MAS-authorised lenders’ websites.

Best Renovation Loan in Singapore 2025

Refine Your Results

S$849

Standard Chartered CashOne

S$857

UOB Personal Loan

S$857

GXS FlexiLoan

S$852

Trust Instant Loan

S$856

CIMB Personal Loan

S$833

GXS FlexiLoan (Balance Transfer)

S$852

HSBC Personal Loan

S$863

Citi Quick Cash Program with Ready Credit

From S$889

Best Licensed Moneylender Personal Loan

S$950

Credible.sg Personal Loan

S$1,013

Friday Finance Personal Loan

S$852

HSBC Renovation Loan

S$874

DBS Eco-aware Renovation Loan

S$876

DBS Renovation Loan

Apply for a personal loan with interest rates as low as 1.90%