DBS Renovation Loan
At a Glance

Hassle-free online applicationNEW
Submit your application online with your digibank credentials
*Effective Interest Rate (EIR) – 4.91% and 4.62% respectively based on 60-months loan tenure and inclusive of 1% handling fee and 1% insurance premium
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Terms and conditions apply.

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Features & Benefits
Borrow up to S$30,000 | Flexible repayment | Issuance of Cashier’s Order |
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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 3.88% per annum (EIR: 4.62%*) | Up to a maximum of 4 Cashier’s Orders will be issued under your appointed renovation contractor’s name |
DBS Green Renovation Loan
Achieving a green home is now more effortless and wallet-friendly with DBS Green Renovation Loan. With an attractive interest rate at 3.88% p.a (EIR 4.62%*), it’s time to give your home a sustainable makeover.
To qualify:
- Submit your renovation loan application online
- Under the “Green Renovation Checklist” section in the application form, select at least 3 out of the 10 items that are applicable to you.
*Effective Interest Rate (EIR) – 4.62% based on 60-months loan tenure and inclusive of 1% handling fee and 1% insurance premium
Terms and conditions apply.
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Eligibility & Fees
Who can apply | |
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Nationality | Singapore Citizen or Permanent Resident |
Age | 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 |
Joint Application
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)
Borrow up to 6 x 2 times the lower monthly income of the two applicants or $30,000, whichever is lower
For example:
If your monthly income is S$4000 and the joint applicant’s monthly income is S$1500. You could borrow up to a maximum of S$18,000 (S$1500 x 6 x 2 borrowers)
Usage for Your Renovation Loan
Your Renovation Loan can be used for:
- Installation of Solar PanelsNEW
- 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 Cashline.
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) |
Here's an illustration of the disbursed loan amount nett of the fees:
Approved loan amount: | Fees payable: | Disbursed loan amount: |
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S$10,000 | Handling Fee (1% of S$10,000) = S$100 Insurance Premium (1% of S$10,000) = S$100 | S$9,800 (S$10,000 – S$100 – S$100) |
Other Fees | |
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Cashier’s Order Issuance | 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 |
Post-Disbursement
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.
How To Apply
You will need a DBS / POSB deposit account to service your loan. If you do not have an existing DBS / POSB account, click here to apply before submitting your Renovation Loan application.
Single Applicants (via digibot) | |
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Step 1 | Prepare the required documents for your renovation loan application:
Please note that each file size should not exceed 5MB and acceptable formats are PDF, JPG or JPEG. The file name should not contain spaces or special characters. You may find a guide on how to prepare your documents here. |
Step 2 | Launch the online Renovation Loan Application Form and submit your application with the required documents. You will need to authenticate yourself via:
Click here for a detailed guide on the application process. |
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
Other Services
You may submit your request to amend or redeem your renovation loan online with these forms below.
Other Forms | |
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Full Redemption of Loan | |
Change in Contractor/ Loan Tenure |
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