At a Glance

Hassle-free online applicationNEW

Submit your application online with your digibank credentials

Attractive rates

at 4.88% p.a.* for DBS Renovation Loan
at 4.68% p.a.* for DBS Eco-aware Renovation Loan

Peace of mind

with comprehensive insurance coverage

*Effective Interest Rate (EIR) – 5.60% and 5.41% respectively based on 60-months loan tenure and inclusive of 1% handling fee and 1% insurance premium

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Find out more

Terms and conditions apply.


Features & Benefits

Borrow up to S$30,000

Flexible repayment

Issuance of Cashier’s Order

Borrow up to 6 times of your monthly income or S$30,000, whichever lower

Monthly repayment of up to 5 years with interest rate from 4.68% per annum (EIR: 5.41%*)

Up to a maximum of 4 Cashier’s Orders will be issued under your appointed renovation contractor’s name

Please note that the issued Cashier’s Orders will be valid for 6 months.

DBS Eco-aware Renovation Loan

DBS Eco-aware Renovation Loan aims to raise awareness about the eco-friendly choices you can make in your home renovation process.

Whether it’s selecting non-toxic paint, choosing energy-efficient appliances, or leveraging smart technology to reduce carbon footprint, there are many easy ways you can incorporate conscious choices into your daily living.

What’s more, fulfil at least 6 out of the 10 items under the “Eco-aware Renovation Checklist” and enjoy an attractive interest rate of 4.68% p.a. (EIR 5.41%*) on your renovation loan.

*Effective Interest Rate (EIR) – 5.41% based on 60-months loan tenure and inclusive of 1% handling fee and 1% insurance premium

Terms and conditions apply.


Loan Calculator

Renovation Calculator

Find out the monthly repayment for your renovation loan.



Eligibility & Fees

Who can apply


Singapore Citizen or Permanent Resident


21 - 65 years old

Property Ownership

Owned by applicant, OR applicant’s related family member (parent, spouse, child or sibling)

Minimum Income

S$24,000 per annum

The following fees are payable and deducted from the approved loan amount:


Handling Fee

1% of approved loan amount

Insurance Premium

1% of approved loan amount (In the event of death or total permanent disability, Manulife will pay off your outstanding renovation loan balance)

Other Fees

Cashier’s Order Issuance
(Maximum of 4 Cashier’s Orders can be requested)

First Cashier’s Order is free

A fee of S$5 will be chargeable for each subsequent Cashier’s Order (Deducted from your designated loan servicing account)

Cancellation Fee

1% of approved loan amount

Pre-payment Fee

1% of outstanding loan amount

Late Payment Fee

S$35 for each month or part thereof during which any instalment and/or interest is not paid


Site visits will be conducted post-disbursement to ensure that the loan proceeds are used for the stated renovation works as listed in the quotation.

Full terms & conditions can be found here.


Apply now

You will need a DBS / POSB deposit account to service your loan. If you do not have one, click here to apply before submitting your Renovation Loan application.

For Single Applicants (Online Application)

Prepare the following documents to be submitted along with your application:

Click here for a detailed guide on the application process.

Apply Now

For Joint Applicants / Non-owner Borrowers

Download the application form and send it to us with the required documents to:

DBS Bank Ltd (CP No. AH0025)
Orchard P.O. Box 360
Singapore 912312


Get More Benefits with DBS Personal Loan!

DBS Personal Loan

Get 2% unlimited cashback when you apply for DBS Personal Loan!

Click here to find out more!


Frequently Asked Questions

You may borrow up to 6 times of your monthly income or S$30,000, whichever is lower. Please note that this is also subjected to approval based on your credit eligibility.

Main Applicant: Minimum income of S$24,000 per annum
Joint Applicant: Minimum Income of S$12,000 per annum (Main Applicant’s parent, spouse, child or sibling)

The lower monthly income (up to 12 times) of the two applicants will be used to compute the loan amount in a joint application. Please note that the maximum loan amount that will be considered is S$30,000.

For example:

If your monthly income is S$4,000 and the joint applicant’s monthly income is S$1,500, you can borrow up to a maximum of S$18,000 (S$1500 x 12).

Your Renovation Loan can be used for:

  • Installation of Solar Panels
  • Electrical and wiring works
  • Built-in cabinets
  • Painting and redecorating works (e.g. wallpaper)
  • Structural alterations
  • External works within compound of the house
  • Flooring and tiling
  • Basic bathroom fittings

Please note that the Renovation Loan cannot be used to pay for furnishings or for any other purpose besides renovation. If you need help to finance your home furnishings, get ready cash with DBS Personal Loan.

Renovation loan is an unsecured loan as there is no collateral involved.
However, a renovation invoice/quotation is required to be submitted along with your application to show that the loan is to be used for home renovation works.

Approved loan amount: Fees payable: Disbursed loan amount:
S$10,000 Handling Fee
(1% of S$10,000) = S$100
Insurance Premium
(1% of S$10,000) = S$100
(S$10,000 – S$100 – S$100)

You will receive a letter on the outcome of your renovation loan application at your mailing address within 5-7 working days if all documents submitted are in order.

The approved loan amount will be disbursed in cashier’s orders as indicated in the application.

If additional information or documentation is required, you will receive an email with the details.

We appreciate your patience if the processing time takes longer when there are additional follow-ups required.

The cashier’s orders will be issued under your appointed renovation contractor’s name. You may pass them to your renovation contractor progressively as per the agreed payment schedule in the renovation invoice.

To reduce your Renovation Loan amount, you may use the Service Request form here to submit your request.

To increase your Renovation Loan amount, kindly submit a fresh application for the incremental loan amount (minimum S$5,000) using the application form here and provide your latest renovation invoice and income documents.

The monthly repayment amount will be automatically deducted from your loan servicing account on the 1st working day of every month. Please ensure sufficient funds in your account to avoid incurring the late payment fees.

You can have a maximum of 2 renovation loans with DBS/POSB, as long as the total loan amount does not exceed S$30,000. Please note that this is also subjected to approval based on your credit eligibility.


Service Requests

You may submit your request to amend or redeem your renovation loan online with these forms below.

Other Forms
  • Reissuance of Cashier’s Order due to non-receipt, loss or expiry
  • Reduce Loan Amount
  • Termination of Loan

Apply Online

Full Redemption of Loan

Apply Online

Change in Contractor/ Loan Tenure

Apply Online


Your Loan Accounts and Statements

We have upgraded our systems to serve you better. Learn more about the new loan account number format and loan statement for the year 2023.


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Geneco’s Green Energy Solutions

Up to S$1,000 electricity bill rebate for solar panel installation with Power Eco Total Home Solution.

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