RHB RENOVATION LOAN

ELIGIBILITY

  • Singaporean or Singapore Permanent Resident

  • 21 to 55 years old

  • Main Applicant must be earning at least S$30,000 per annum

  • Joint applicant must earn a minimum income of at least S$30,000 for the income to be computed as part of the loan quantum.

  • Joint Applicant (if any) must be gainfully employed and a spouse, parent, sibling or child of the Main Applicant

  • Either the Main or the Joint Applicant must be the owner of the property to be renovated

3 Steps for loan application

1st step- prepare documents

 

DOCUMENTS REQUIRED

  1. A copy of your contractor’s quotation/Invoice duly signed by Applicant(s) and Contractor(s)

  2. Photocopy of NRIC (both sides)

  3. Proof of Income:

    • Salaried Employee:

      1. Latest Computerised Payslip OR

      2. CPF Contribution Statement for past 12 months 
        OR

      3. Latest Income Tax Notice of Assessment (NOA)

    • Variable Income/Commission Based Earner:

      1. Latest 6 months Computerised Payslip OR

      2. CPF Contribution Statement for past 12 months 
        OR

      3. Latest Income Tax Notice of Assessment (NOA)

    • Self-Employed:

      1. Income Tax Notices of Assessment (NOA) for latest 2 years

  4. Proof of ownership on property to be renovated e.g. HDB Letter of Approval/Flat Information, CPF Property Withdrawal Statement, Certificate of Title (for private property), Sales and Purchase Agreement, property tax bill, etc.

  5. For joint application: Proof of relationship for joint application e.g. marriage/birth certificates

  6. For Furnishing Loan : Copy of receipt/invoice of fittings purchased under the Main Applicant’s Name for disbursement of loan

2nd Step - print out and sign loan application form

3rd step - sign renovation quotation form and email