Cash woes? A personal loan to the rescue!

OCBC Malaysia Renovation Loan

OCBC Renovation & Refurbishment Loan

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.

Financing Up to 30% of standby funds for property refurbishment.
Type of Financing Flexible.
Loan Tenure 10 years or 70 years of age, whichever is earlier.
Interest Rate 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

Processing Fee Waived.
Legal Document Charges RM10 per document.
Late Payment Charges 1% p.a. on the monthly arrears.
Stamp Duty As per Stamp Duty Act 1949.

Required Documents

  • 1 copy of NRIC (both sides).
  • Salary slips.
  • Bank statement.

How to Apply

Telephonic Application
  • Call OCBC Bank’s contact centre.
  • Express your interest to apply for the specific loan.
  • A representative will assist you with the application process.
Offline Application
  • 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.

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