Renovation Loan Singapore
Get your home ready to live in. Cover your shortfall with a renovation loan of up to 6× your monthly income, with 30-minute approval and same-day cash.* *Subject to eligibility, assessment and approval at QuickLoan.
Fewer Forms
Use Singpass to prefill your details
Start From Home
Apply between work and contractor visits
Weekend Appointments
Visit Saturdays, 12–5 pm
Your home, your next step
Renovation Plans Outgrown Your Available Cash?
You may be getting your BTO ready, updating a resale flat or replacing a worn-out kitchen or bathroom. If you’ve set your budget but still have a gap to cover, a personal loan could help fund the remaining essentials, provided the repayments fit your household budget.
Getting Ready to Move In
Essential work remains before you can settle in.
Updating an Older Home
Your kitchen, bathroom or fittings need attention.
A Payment Coming Up
An agreed contractor payment exceeds your available cash.
Your renovation budget
What Renovation Expenses Can a Personal Loan Cover?
Cover a shortfall for essential work, repairs and furnishings within your planned home renovation budget.
Kitchen & Carpentry
Cabinets, worktops and built-in storage for everyday use.
Bathroom Upgrades
Waterproofing, shower fittings, basins and toilet replacements.
Flooring & Tiling
New flooring and replacement tiles for worn or damaged areas.
Electrical & Lighting
Wiring, power points and lighting for your household needs.
Plumbing Repairs
Leaking pipes, worn taps and plumbing connections that need fixing.
Painting & Walls
Wall repairs and fresh paint to refresh your living space.
Furniture & Appliances
Beds, seating and essential appliances to help you settle in.
Finishing Touches
Doors, locks and curtains to complete your home’s essentials.
Check your quotations and available savings, then apply for the shortfall. Review the fees and repayments before deciding.
Before you commit
Plan Your Payments Before You Borrow
Work out when payments are due, how much you’re short and what you can comfortably repay.
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Check Your Quotation
Confirm what’s included and separate essential work from upgrades that can wait.
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Map Your Payment Dates
List the agreed deposits and progress payments alongside your available savings.
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Calculate Repayment Room
Allow for your mortgage, household bills and existing loans before committing.
Match contractor payments to agreed progress. Check completed work before releasing a progress payment, and clarify unexpected charges first.
Before you apply
Minimum Criteria for a Renovation Loan
Planning to cover a renovation shortfall? Check QuickLoan’s minimum age and monthly salary requirements first.
Minimum Age
18 years old and above.
Minimum Monthly Salary
S$1,800 for Singapore Citizens, PRs and foreigners.
Meeting these requirements does not guarantee approval. Your application is subject to individual assessment.
Your borrowing limit
How Much Can You Borrow for Your Renovation?
See the borrowing limits for your income and residency status. Your approved amount depends on your financial commitments and what you can repay.
| Monthly income | Singapore Citizens & PRs | Foreigners residing in Singapore |
|---|---|---|
| Below S$834 | Up to S$3,000 | Up to S$500 |
| S$834 to S$1,667 | Up to S$3,000 | Up to S$3,000 |
| S$1,667 and above | 6× monthly income | 6× monthly income |
Subtract your available savings from the renovation costs you’ve agreed to. Existing unsecured borrowing with licensed moneylenders counts towards your total limit and reduces the amount available.
Your approved amount may be lower than the limit shown. QuickLoan assesses your income, commitments and repayment capacity. Approval is not guaranteed.
Renovation Loan Interest, Fees & Repayments
See how borrowing costs affect your renovation budget. Check the cash you’ll receive and the repayments you’ll need to make alongside your household bills.
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4% per month, maximum
Interest is charged on the remaining principal, which decreases as you repay it.
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10% of principal, maximum
Loan approval fee may be deducted when the loan is granted, reducing the cash available for your renovation.
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4% per month, maximum
Late interest may be charged on overdue amounts, excluding repayments that are not yet due.
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S$60 per month, maximum
Late payment fee may apply for each month a repayment is late.
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100% of principal, maximum
Combined interest and fees, including late interest, loan approval fees and late payment fees, cannot exceed the original principal.
Check what reaches your renovation budget. Confirm the cash you’ll receive after any upfront fee before arranging a contractor payment.
These are regulatory ceilings, not QuickLoan’s standard charges. Your actual rate, fees and repayment schedule will be explained before you sign.
Estimate Your Renovation Loan Repayments
Adjust the figures to see how a loan could fit alongside your monthly expenses.
Estimated monthly repayment
S$535.58 / month
- Loan amount S$3,000.00
- Total interest S$213.46
- Total repayments* S$3,213.46
*Excludes the one-time loan approval fee of up to 10%. Estimates assume equal monthly instalments, interest on the reducing principal and on-time repayments. Slider ranges are planning inputs, not an offer or eligibility limit. Approved amounts, rates and tenures depend on assessment and applicable borrowing limits.
How to Apply for a Renovation Loan
Have your funding gap in mind? Here’s how to take the next step.
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Start Your Application
Apply online or use Singpass to prefill your details. Share the amount you need for your renovation shortfall.
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Review Your Loan Offer
Check the cash you’ll receive, fees and repayment schedule. Make sure the instalments fit alongside your household expenses.
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Visit to Complete Your Loan
Bring your documents to our office for verification. Read the contract and sign once you’re comfortable with the terms.
Applications are subject to assessment. Identity verification and loan completion take place in person at our office.
Documents Required for a Renovation Loan
Get your paperwork ready before your office visit. Choose your residency to see what to prepare for assessment.
Start with fewer forms Use Singpass to retrieve your Myinfo details, so you have less information to enter yourself.
- NRIC To confirm your identity
- Singpass access For retrieving your Myinfo information
- Three months of payslips If available
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If you rent, bring these together
- Tenancy agreement
- Phone or utility bill A recent bill showing your address
- Passport To confirm your identity
- S Pass or Employment Pass Valid for at least another six months
- Three months of payslips If available
- Employment contract & staff card To support your employment details
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Bring both for address verification
- Tenancy agreement
- Phone or utility bill A recent bill with your residential address
Keep your contractor’s quotation handy to work out your funding shortfall. Further documents may be requested during assessment. Never share your Singpass password or banking credentials.
Bank or Licensed Moneylender for Your Renovation?
Compare covered expenses, cash received and total repayment to find an offer that fits your shortfall.
Swipe across to compare.
| Compare | Bank Renovation Financing | Bank Personal Financing | QuickLoan Personal Financing |
|---|---|---|---|
| Covers | Approved renovation works. DBS excludes furnishings. | Renovation and furnishings, subject to bank terms. | Works, repairs, furniture and appliances. |
| Funds paid to | May go to your contractor, as with DBS cashier’s orders. | Your bank account. | You, after successful office assessment and signing. |
| Borrowing amount | Maybank: up to 6× monthly income or S$30,000, whichever is lower. | Depends on available credit and bank assessment. | Income-based limits apply across licensed moneylenders. Up to 6× monthly income for qualifying income bands. |
| Cost checks | Annual EIR, fees and any required insurance. | Annual EIR and fees—not just the advertised flat rate. | Quoted monthly rate and approval fee. Legal caps: 4% monthly interest on remaining principal; 10% approval fee. |
| Timing | DBS: 5–7 working days with complete documents; follow-ups may take longer. | Instant funding available to some eligible customers. | Same-day funding may be available after successful in-person assessment. |
| Requirements | Quotation and property documents. Some products require an existing home loan. | Bank income, residency and credit criteria. | Identity, income, address and repayment assessment. Approval is not guaranteed. |
Renovation Loan Questions, Answered
Is QuickLoan’s renovation loan a personal loan?
Yes. It is a personal loan used for renovation expenses, including repairs, furnishings and appliances. Your approved amount and terms depend on assessment.
Can I apply for a BTO or resale flat renovation?
Yes. You can apply to cover a renovation shortfall for a BTO or resale flat. Work out your essential costs and available savings before deciding how much to borrow.
How quickly can I receive the funds?
Approval may take around 30 minutes at our office, with funds available on the same day after successful assessment, verification and signing. Timing depends on your application and complete documents.
Who can apply for a renovation loan?
QuickLoan’s stated minimum requirements are age 18 and monthly income of S$1,800. Citizens, PRs and eligible foreigners can apply. Foreign applicants should confirm their pass eligibility with our team. Meeting these requirements does not guarantee approval.
How much can I borrow?
Qualifying borrowers may borrow up to 6× monthly income across all licensed moneylenders. Your approved amount depends on existing borrowing, financial commitments and repayment capacity. See the borrowing limits above.
What interest rate and fees will I pay?
Your offer will state the interest rate, fees and repayment schedule. Legal ceilings include 4% monthly interest on remaining principal and a 10% loan approval fee; these are caps, not standard quoted charges.
Do I need a guarantor?
No. QuickLoan does not require a guarantor for this loan. Your application is assessed on your own circumstances and ability to repay.
Can I apply if I already have a home or renovation loan?
You can apply, but existing repayments form part of your affordability assessment. Unsecured borrowing with other licensed moneylenders also counts towards your combined borrowing limit.
Can I enquire before choosing a contractor?
Yes. You can discuss your plans with our team first. Confirm your quotation and payment dates before borrowing so you know the actual shortfall. Our team will explain any application requirements.
Can the loan cover energy-efficient upgrades?
Yes, it can cover suitable appliances and home upgrades. Check whether vouchers or rebates can reduce eligible purchase costs before calculating how much you need.
Can I repay my renovation loan early?
QuickLoan states that it does not charge an early repayment penalty and may offer early repayment discounts. Ask for your settlement amount and confirm any discount terms before making payment.
What if my renovation is delayed or cancelled?
A contractor delay or cancellation does not automatically pause your loan repayments. Contact our team promptly to discuss your circumstances and any unused funds.
Eligible unsecured non-business loans disbursed from 15 September 2026 have a three-business-day cooling-off period, excluding the disbursement day. Cancellation requires repayment of the net principal received and any permitted retained approval fee, with no interest. Read the cancellation rules .
What should I do if I cannot make a repayment?
Contact QuickLoan as soon as possible, preferably before the due date, to discuss available arrangements. Late interest and fees may apply, and missed payments can affect your credit record.
Visit QuickLoan at International Plaza
Bring your documents and discuss your renovation loan application with our team in person.
Our Tanjong Pagar Office
QuickLoan Pte Ltd10 Anson Road, #01-15
International Plaza
Singapore 079903
- By MRT
- Take Exit C at Tanjong Pagar MRT and walk to International Plaza.
- Opening hours
- Monday–Friday: 11 am–8 pm
Saturday: 12 pm–5 pm
Closed Sundays and public holidays