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Renovation Loan

Renovation Loans:

A renovation loan is a financing solution designed to help homeowners or tenants revamp their space, whether it’s upgrading the kitchen or redoing the flooring. In Singapore, you can typically borrow up to six times your monthly income, or a maximum of S$30,000 for a renovation loan, whichever is lower. However, the final amount depends on factors like your credit profile, earnings, and age, and is subject to approval.

Who All Can Avail?

Renovation loans are open to Singaporeans, PRs, and foreigners with valid tenancy, aged 21 to 65, earning at least S$1,800 – S$2,000 per month.

Documents Checklist:

Homeowners must provide proof of ownership; tenants need landlord consent. Key documents include your NRIC, income slips or CPF contribution, renovation plans, and contractor’s quote.

Renovation Loan vs. Other Loans

Compared to personal or credit card loans, renovation loans often come with lower monthly interest rates (1%–4%) and are collateral-free. While personal loans may be used for any purpose, renovation loans are strictly tied to home improvements, with approval often based on submitted renovation plans.

Loan Type Interest Rate (per month) Tenure Purpose / Features
Renovation Loan 1% – 4% 12–60 months (1–5 years) Home upgrades
Personal Loan 1% – 4% 6–60 months General use
Credit Card Loan (Cash Advance) ~3%–5% fee + ~1.5%–3% interest (compounded daily) Revolving; no fixed tenure High interest debts

How It Works: 5-Step Journey

  1. Apply Online or In-Person, at Fast Money’s branch.
  2. Submit Renovation Plans & Quote.
  3. Loan Assessment & Approval.
  4. Funds Disbursed to Contractor/You.
  5. Monthly Repayment Begins.

Fast Money’s Renovation Loan in Singapore provides a quick, flexible, and straightforward solution for financing home upgrades with minimal hassle. Check your eligibility and estimate repayments using our calculator now.

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Why Us?

Thousands of clients like yourself choose Fast Money for their most urgent cash needs.

We’re here to make needs possible.

Turn your aspirations and dreams into reality with financial assistance from Fast Money, providing quick and easy personal loan in Singapore.Everyone has a dream. Whether it’s a trip around the world to experience all of those places you’ve read about in books and magazines, purchasing a luxury car and living the high life, or renovating your home to make room for your growing family. We’re here to help.

Trusted, professional. Legal. Credible.

Fast Money is fully licensed with all Singapore laws and regulations. We follow the industry’s best practices, and strictly adhere to the latest requirements laid out by the authorities.

Quality low interest rate Renovation Loan

Applying for a loan in Singapore is easy with us. We offer our services to Singaporeans, PRs, and foreigners. Our loans come with some of the lowest interest rates in the region and also flexible repayment periods. We are reasonable, and will make arrangements to provide you with a flexible repayment period that meets your financial requirements.

Why Us?

With a strong background in financial technology, the founders saw a huge opportunity to improve the way people transact in the digital era. They were inspired by the need for a platform that could make it easier

We’re here to make needs possible.

Turn your aspirations and dreams into reality with financial assistance from Fast Money, providing quick and easy personal loan in Singapore.Everyone has a dream. Whether it’s a trip around the world to experience all of those places you’ve read about in books and magazines, purchasing a luxury car and living the high life, or renovating your home to make room for your growing family. We’re here to help.

Quality low interest rate Personal Loans

Applying for a loan in Singapore is easy with us. We offer our services to Singaporeans, PRs, and foreigners. Our loans come with some of the lowest interest rates in the region and also flexible repayment periods. We are reasonable, and will make arrangements to provide you with a flexible repayment period that meets your financial requirements.

Trusted, professional. Legal. Credible.

Fast Money is fully licensed with all Singapore laws and regulations. We follow the industry’s best practices, and strictly adhere to the latest requirements laid out by the authorities.

Why choose Fast Money?

Thousands of clients like yourself choose Fast Money for their most urgent cash needs. Here’s why.

We’re here to make needs possible.

Turn your aspirations and dreams into reality with financial assistance from Fast Money, providing quick and easy personal loan in Singapore.Everyone has a dream. Whether it’s a trip around the world to experience all of those places you’ve read about in books and magazines, purchasing a luxury car and living the high life, or renovating your home to make room for your growing family. We’re here to help.

 

 

Quality low interest rate Renovation Loans

Applying for a loan in Singapore is easy with us. We offer our services to Singaporeans, PRs, and foreigners. Our loans come with some of the lowest interest rates in the region and also flexible repayment periods. We are reasonable, and will make arrangements to provide you with a flexible repayment period that meets your financial requirements.

 

 

Trusted, professional. Legal. Credible.

Fast Money is fully licensed with all Singapore laws and regulations. We follow the industry’s best practices, and strictly adhere to the latest requirements laid out by the authorities.

 

 

Change to Why us section on their current website. Remove icons.

With a strong background in financial technology, the founders saw a huge opportunity to improve the way people transact in the digital era. They were inspired by the need for a platform that could make it easier

 

 

 

 

 

 

 

 

  • Empower users to manage finances easily
  • Provide fast and efficient payment services
  • Prioritize security and data protection
  • Continuously innovate in financial technology
  • Support business growth and financial inclusion

Are you eligible for a loan?

There are some strict regulations and rules that we must adhere by before extending loans to you. Here’s a simple checklist to get you started.

 

 

 

Step 1 of 3: Basic eligibility criteria

To first qualify for a loan with us, you must be either a:

  • Singaporean
  • Permanent Resident
  • Foreigner with valid pass (A valid Singaporean Employment Pass)
Step 2 of 3: Other criteria

You should also be:

  • Minimum 21 years of age
  • Full-time employed
Step 3 of 3: Other Criteria

Qualified so far? Great!
Please bring along the following documents (choose which applies):

Singaporeans/PR

  • NRIC or Passport No.
  • Phone bill OR Singapore power service bill
  • For salaried individuals: Latest 3 computerised monthly pay slip OR 15 months CPF statement OR Income Tax Statement

 

 

Foreigners

  • Original Valid Employment Pass
  • Original Passport
  • Tenancy Agreement for your Rental Premise, PUB Bill or Handphone Bill

 

 

FAQs

What is a renovation loan and how does it differ from a personal loan?
A renovation loan is a purpose-specific loan used strictly for home improvement works such as tiling, wiring, carpentry, or kitchen upgrades. Unlike a personal loan, which can be used for any purpose, renovation loans often require submission of a contractor quote and renovation plan, and typically come with lower interest rates and structured disbursement tied to renovation milestones.
How much renovation loan can I borrow?
You can typically borrow up to 6× your monthly income, capped at S$30,000. The actual approved amount depends on your income, creditworthiness, and ability to repay.
What interest rates and repayment plans are available?
Interest rates from licensed moneylenders are capped at 4% per month. Repayment tenures generally range from 12 to 60 months, with fixed monthly installments for easier budgeting.
How long does approval and disbursal take?
Approval usually takes 24 to 48 hours, and funds are often disbursed on the same day or next working day after signing the agreement.
What documents are required for a renovation loan?

Required documents include:

  1. NRIC or FIN
  2. Proof of income (payslips or CPF contributions)
  3. Renovation quote or invoice
  4. Proof of homeownership (or tenancy agreement and landlord consent if renting)
Can tenants apply or only homeowners?
Tenants can apply, but they must provide a valid tenancy agreement and written consent from the landlord. Homeowners must submit proof of ownership.
Are there prepayment penalties or early repayment options?
Most licensed moneylenders allow early or full repayment without penalty, though it’s best to confirm the exact terms in your loan agreement.
What happens if my renovation cost increases mid‑way?
You may apply for a top-up loan with your lender. Approval depends on your repayment track record, updated income details, and revised renovation quotes.
Can I use it for both major and minor renovations?
Yes, renovation loans can cover both large-scale upgrades (e.g., flooring, plumbing) and smaller improvements like painting or fixture changes. Just submit a detailed cost estimate.
Is there a minimum credit score or income requirement?
While there’s no fixed credit score requirement, you generally need to earn at least S$1,800–S$2,000/month to qualify. Stronger credit and income profiles may result in better terms.

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