Build your dream home at an affordable price.


Are you stressing over renovation costs? Well, we have a solution for you.

With Money Kinetics, turn your house into a home effortlessly. We help you source for the best renovation loan rates in Singapore. Worry no more about costs.


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Building the home of your dreams is easy with Money Kinetics. Click to get your quote for free now!

Loan Amount
$50,000
$1,000 $100,000
Tenure
45 Months
3 months 72 months
Your monthly
payment
$ 1,265.61

*Calculation is based on an APR of 5.3%. An individualised APR will be presented at the end of your application. Max. APR 48%. Minimum repayment period 3 months to a maximum of 72 months.

    Over 67,200 approved loan applications!

    Find out what people say about Money Kinetics®

    “Process was smooth and fast”

    This is my first time using a lending platform. Process was smooth and fast. Everything settled within 30-40 minutes.

    Adam Krishnan

    “Super easy to use”

    Super easy to use system. They get back to you quickly. Generous with loans and low interest, will recommend to my friends.

    Jenny Koh

    “Good financial advice”

    Not only do they find the BEST lending partners, they also provide good financial advice. Patient in answering all my questions.

    Low Zhi Ching

    How Money
    Kinetics Works

    We believe that lending should be a straightforward and transparent process. To reduce the risk of loan scams and to find the best interest rates for you, we have streamlined our process into 4 simple steps.

    Submit your request, and get quotes for FREE

    Fill in your particulars and loan amount needed. It only takes 1 minute.

    Get your request processed in minutes

    Sensitive to your needs, our portal processes your information in mere minutes.

    We match you with the right financial institutions

    Our modern and advanced system matches you with the right financial institutions with the best rates.

    Sign the contract and receive your money

    Once the loan contract is finalized and signed, you will receive the cash instantly.

    We Answer Your Financial Questions.

    Money Kinetics® started with the goal of helping Singaporeans achieve financial freedom and attain financial literacy. We understand that managing your own personal finance is no easy feat, especially with confusing financial terms. This is why we aim to break them down, making them more understandable.

    About Money Kinetics

    Here's What You Have To Know About Getting A Renovation Loan In Singapore

    Still have your doubts about applying for a renovation loan? Take some time to go through our informative guide below, as we seek to clarify your questions.

    • Who is eligible for a renovation loan?
    • What is a renovation loan?
    • Where can I apply for a renovation loan?
    • How does a renovation loan work?
    • Top 10 benefits of applying for a renovation loan
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    Who is eligible for a renovation loan?

    All Singaporeans, Permanent Residents (PR) and Foreigners residing in Singapore are eligible for a renovation loan.

    As long as you are currently working, and can produce identity and income proof, the financial institution will be able to grant you with a renovation loan.

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    What is a renovation loan?

    A renovation loan is a sum of money that you borrow from a financial institution for your renovation needs. The money can be used for any renovation purpose including repainting, flooring, electrical wiring, carpentry works and more. You may use the loan for any cost incurred during the renovation.

    Renovation loans do not require any form collateral and is an unsecured loan. Loan repayments can be made on a monthly basis.

    Renovation loans can assist both small and large scale renovations. They are fast and effective solutions to resolve any form of financial emergencies without delaying or forgoing any procedure.

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    Where can I apply for a renovation loan?

    In Singapore, there are a wide range of financial and credit institutions that can provide personal loans:

    1. Banks

    Most banks in Singapore provide both secured and unsecured renovation loans. These include DBS, POSB, HSBC, Citibank, Standard Chartered and so forth. Banks are able to offer longer loan tenures with larger amounts due to their large financial backing, but are more stringent on renovation loan applications and require you to have a good credit score.

    2. Licensed moneylenders

    These are credit institutions that provide quick and fast renovation loans to their borrowers. In instances where you may be rejected from banks due to your poor credit score, licensed moneylenders might still be able to tailor a suitable loan package for you. They generally have a less tedious loan application process as compared to banks, and can disburse your loan within an hour.

    3. Loan comparison platforms

    Loan comparison platforms help connect borrowers to banks and other financial institutions so that they will be able to apply for the best loan package for their needs. By leveraging on their technology and sophisticated system, you will be able to receive the best loan offers in the market, without straining your finances.

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    How does a renovation loan work?

    Banks and other financial institutions will provide you with a renovation loan that you are required to finish repaying, along with additional interest, within the stipulated loan tenure on your contract.

    You borrow a fixed sum of money, along with a fixed interest rate determined by the financial institution based on your credit rating.

    Your repayments are usually made monthly, till the end of your loan tenure. Loan tenures in Singapore can usually go up to 6 years, depending on your loan amount and the terms and conditions stated on the loan contract.

    Things you should know before borrowing:

    Min. Period for Repayment: 3 months
    Max. Period for Repayment: Up to 72 months
    Min. APR: From 1.24% per annum
    Max. APR: Up to 48% per annum on reducing interest rate

    Sample representation:

    A total of $10,000 loan borrowed for a period of 12 months at 1% interest p.m, the total interest would be $661.88.

    * Total cost payable excludes administrative fee. The cost stated is an estimation and may vary due to loan amount, period of loan, and other fees. Late fees and late interest may be charged in the event of a violation of the terms & conditions.

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    Top 10 benefits of applying for a renovation loan

    1. No collateral is required

    Unlike secured loans which require you to provide a collateral in exchange for a loan, renovation loans do not require this. This way, you will be able to receive your loan, without having to put any security in exchange.

    2. Flexible loan tenures

    When applying for a loan, you will be provided with a range of loan tenures to suit your financial situation. These loan tenures can range from a few months, up to 10 years for some financial institutions. Ensure that you discuss your loan tenure options with your financial institution of choice to ensure comfortable monthly repayments.

    3. No restriction on usage

    With a renovation loan, you will be able to use the funds where you deem fit. It can be used to fund any part of your renovation from furnishing to flooring to electrical wiring to carpentry works and more. As long as your renovation needs it, you can utilize it.

    4. Increase the value of your property over time

    Home renovations are a form of investment as well. With a renovation loan, you will able to upgrade and make enhancements to your property. Thereafter, the value of your property increases and it will be able to fetch a higher price if you wish to sell it in the future.

    5. Better rates than credit card loans

    You might be tempted to use a credit card loan due to their convenience. However, credit card loans are not recommended due to their exorbitant interest rates at 25% per annum. Find out more here.

    6. Little paperwork required

    For some financial institutions, the paperwork required for you to obtain a loan is fairly simple. Documents required include your identity, address and any proof of income via your CPF or bank statements.

    7. Higher borrowing limits

    Compared to credit card loans, renovation loans have the potential to for higher borrowing limits. With a credit card, you are restricted to your own spending limit. Once you have hit the limit for the month, you will not be able to spend on the credit card anymore. However, with renovation loans, the amount that you can borrow can be up to 6 times of your income.

    8. Quick loan processing

    Most renovation loans are processed within three days. However, if all documents are duly completed and presented, the loan processing time can be significantly shortened. They can be processed within minutes, for some financial institutions.

    9. Quick disbursement of funds

    Another one of a huge benefit that comes with a renovation loan is its quick turnaround time. Once your loan has been processed and approved, you should be able to receive your funds within minutes. Those with better credit and have all documents in place will be at an advantage to receive their funds sooner.

    10. Builds your credit profile over time

    With a renovation loan, you will be better able to make repayments in full, and on time. Thus, building your credit profile. With a better credit profile, you will be able to access larger loans and receive faster approval should you wish to apply for another renovation loan in the future.

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