To get a loan for your renovation:

• For Single Applicants - earning at least $36,000 per annum
• For Joint Applicant - total annual income of at least $36,000 between main and joint applicants, the main applicant must earn at least $24,000 per annum
• For commission-based earner or self employed, the applicant must be in current business for 2 years

Do you have an existing Renovation Loan?

If you have an existing renovation loan3 with another bank, you can now refinance your renovation loan with us.

Eligibility For Refinancing Renovation Loan

• All account holders of the existing renovation loan to be refinanced must be appplicants in this loan application.
• Applicants must be Singapore Citizens or Permanent Residents between 21 and 55 years of age as of date of application.
• Joint applicant's relationship to main applicant may either be a spouse, parent, child or sibling.
• For joint applicants, please submit documents as per the Main Applicant.

To get a loan for your renovation:

• For Single Applicant - earning at least $36,000 per annum
• For Joint Applicant - total annual income of at least $36,000 between main and joint applicants, the main applicant must earn at least $24,000 per annum.  
• For commission-based earner or self employed, the applicant must be in current business for 2 years. 

¹Insurance coverage is subject to insurability and underwriting conditions as may be imposed by Great Eastern Life Assurance Co Ltd, or such other insurer as may be appointed by OCBC Bank from time to time.

²The biennial fee for IKEA friends VISA is S$50 and BEST-OCBC Platinum MasterCard is S$50 p.a.. The effective interest rate is 24.96% p.a. for both cards except for purchases made with the IKEA friends VISA Card at IKEA Alexandra and IKEA Tampines, where the effective interest rate is 12% p.a. Interest is subject to compounding if the monthly interest charges are not paid in full.

³Your existing outstanding loan amount must be at least S$5,000 with a remaining loan repayment period of at least 2 years.