The journey towards renovating your home in Singapore is paved with significant financial decisions, with the choice between a Personal Loan and a Renovation Loan being paramount. A Personal Loan ensures flexibility and broad usage, including the ability to furnish your newly renovated space. In contrast, a Renovation Loan may cater to those looking for structured payments directly to contractors. Although the interest rates between Personal and Renovation Loans can be competitive, Personal Loans may present a more suitable option, especially if you value the ability to cover a wider array of expenses beyond construction work.
For those leaning towards a Personal Loan, CIMB offers competitive rates starting from 2.80%* p.a. (EIR from 5.28% p.a.), and additional benefits such as up to $2,000 cashback upon loan approval*. This option also offers the convenience of applying online in just minutes without the prerequisite of having a CIMB bank account or credit card. Apply now today!
Whichever path you choose, it’s crucial to align your financing with your circumstances and renovation goals to ensure your home reflects your vision without compromising financial sensibility.
This article is intended for informational purposes and should not be the sole basis for financial decisions. Consider consulting with a financial advisor for personalised advice.
*Terms and conditions apply. Please refer to CIMB Personal Loan Page for more information.