OCBC Renovation & Refurbishment Loan provides financing for those who are looking to renovate or refurbish their homes. This scheme comes with low interest rates. Moreover, you also don't have to pay any monthly fees! Read further to learn more about this loan facility.
Up to 30% of standby funds for property refurbishment.
Type of Financing
10 years or 70 years of age, whichever is earlier.
Base rate + spread (current base rate is 4.08% p.a.).
Features and Benefits
Get up to 30% of standby funds for refurbishing your home.
Get the loan facility at attractive interest rates.
You have the flexibility to make repayments of up to 10 years or 70 years of age.
You have the option to start your monthly instalment up to 1 year after the loan is disbursed.
This facility comes with zero monthly or maintenance fees.
Fees and Charges
Legal Document Charges
RM10 per document.
Late Payment Charges
1% p.a. on the monthly arrears.
As per Stamp Duty Act 1949.
1 copy of NRIC (both sides).
How to Apply
Call OCBC Bank’s contact centre.
Express your interest to apply for the specific loan.
A representative will assist you with the application process.
Visit the bank’s nearest branch.
Request for an application form for the specific loan.
Fill out the application form.
Submit the filled form along with the supporting mandatory documents.
If you are renovating your property, you can opt for this loan facility. With this scheme, you can start repaying the monthly loan amount one year after loan disbursement. It is recommended to read the product’s features and fees and charges before applying for the loan.