Renovation Loan Calculator (2026)
Estimate your monthly repayments for HDB and condo renovation loans in Singapore.
What is a Renovation Loan?
A renovation loan is an unsecured personal loan specifically for financing home renovations in Singapore. Regulated by MAS, these loans are capped at $30,000 with a maximum repayment period of 5 years, regardless of property type.
Maximum $30,000 for renovation loans
Enter loan details to calculate your renovation loan repayment.
Quick Reference
- • Maximum loan amount: $30,000 (MAS-regulated cap)
- • Maximum tenure: 5 years (60 months)
- • Typical interest rates: 3.5% to 6% p.a. depending on bank and credit profile
- • HDB renovations require an HDB-registered contractor and renovation permit
How Renovation Loans Work in Singapore
Renovation loans in Singapore are regulated by the Monetary Authority of Singapore (MAS). The maximum loan amount is capped at $30,000 with a maximum repayment period of 5 years (60 months). These limits apply regardless of property type.
Unlike home loans, renovation loans are unsecured personal loans and typically carry higher interest rates. Most banks offer fixed-rate renovation loans, making it easier to budget your monthly repayments. Some banks may also require you to provide renovation quotations before approving the loan.
For HDB flats, you must engage an HDB-registered renovation contractor and obtain a renovation permit. Structural changes like hacking walls or replacing windows require prior approval from HDB.
Quick Reference
Maximum Loan: $30,000
MAS-regulated cap for all financial institutions
Maximum Tenure: 5 Years
60-month maximum repayment period
Typical Rates: 3.5%–6% p.a.
Varies by bank and credit profile
HDB: Registered Contractor Required
Must obtain renovation permit before starting
Frequently Asked Questions
What is the maximum renovation loan amount in Singapore?expand_more
The maximum renovation loan amount is $30,000, as regulated by MAS. This applies to all financial institutions in Singapore, regardless of whether you are renovating an HDB flat, condo, or landed property.
What is the maximum tenure for a renovation loan?expand_more
The maximum repayment period for a renovation loan in Singapore is 5 years (60 months). Some banks may offer shorter tenures depending on the loan amount and your credit profile.
What are typical renovation loan interest rates in Singapore?expand_more
Renovation loan interest rates in Singapore typically range from 3.5% to 6% per annum, depending on the bank and your credit profile. Some banks offer promotional rates as low as 3.18% p.a. for the first year. Always compare rates across multiple lenders before committing.
Are there specific renovation guidelines for HDB flats?expand_more
Yes, HDB has strict renovation guidelines. You must engage an HDB-registered renovation contractor, obtain a renovation permit before starting work, and follow rules on structural changes, hacking of walls, and window replacements. Non-compliance can result in penalties or required reinstatement at your own cost.
Sources
- • MAS — Renovation loan limits and regulations (mas.gov.sg)
- • HDB — Renovation guidelines and registered contractors (hdb.gov.sg)