DBS Renovation Loan Singapore
As a guide of finance prudent; debt over income ratio would have to be kept around 35% or less. The finance support for renovating a house is therefore become challenge task; as it is an additional loan on top of existing mortgage loan that has just committed. It is required careful consideration and planning. To ease your burden, we have done some study and felt that to save some money, you may consider to take up the renovation loan from same home loan banker or lender as they are usually given some discount; For instant, DBS renovation loan Singapore offer their home loan customers a 2.31 percent flat rate compared to non-home loan customers at 2.58 percent.
We are pleased to compile the Renovation Loan information for your easy reference.
“Request a quotation” We are here to provide you an obligation free quote for your renovation plan
Some key info to note:
- Interest Rate Package – Flat rate, monthly Rest Rate and Board Rate
- Lock in Period – Within the x period of time can’t switch bank or refinancing. The banker or lender will impose fee if it is happening.
- Loan Quantum – Most banks offer up to 6 times your monthly salary and capping at $30,000
- Total repayment – Full amount over the lifetime of the mortgage loan, loan amount + interest
- Legal Subsidy
- Valuation fee
- Late payment fee
- Early repayment fee
- Partial repayment fee
- Cancellation fee
- Administrative fee to us 3rd party fire insurer
Disclaimer The information provided including loan calculator from DiatomReno is only a guide reference. Please liaise with respective bank for details and final figure of loan rate. Information is extracted as of May 2018.