Cash woes? A personal loan to the rescue!

RHB Renovation Loan Malaysia

Renovation loans are an extremely useful loan offered to customers who wish to repair or renovate or reconstruct their property. These loans are offered either packaged with primary home loan schemes or as separate type of personal loan.

Renovation loans are useful financial tools for customers who are running short of cash to renovate their homes. These loans are offered by almost all prominent banks in Malaysia and come at attractive terms and conditions. You need not dig into your hard earned savings in order to carry out minor or major repairs on your property. Renovation loans make it easy and affordable for you to reconstruct or repair your dream home to perfection.

RHB Renovation loan

Features of RHB Renovation Loan

Some of the most prominent features of RHB renovation loans are listed as under.

  • Attractive rates of interest are one of the ley features of renovation loan offered by RHB
  • You can get extra funds for home renovation along with home loan
  • The amount received as renovation loan can be used for repair, reconstruction or even refurbishment
  • Flexible loan tenure is offered to customers depending upon their choice of loan amount

Benefits of RHB Renovation Loan

RHB renovation loans can be availed in the form of personal finance which can then be used to reconstruct, repair or refurbish an existing property. Since, RHB renovation loan is a form of personal loan, this too is unsecured and as such does not require extensive paperwork or even submission of collateral to the bank.

  • Access 24/7 customer service provided by the bank’s customer friendly help desk.
  • Loan amounts up to RM 1,50,000
  • Flexible loan repayment tenure of up to 7 years
  • Free personal accident insurance coverage for customer availing the loan
  • Processing fee is zero for this personal loan (renovation loan) from RHB

Documents required

For Salaried Employee

  • Copy of MyKad (both front and back).
  • Last one month’s salary slip, bank statements or EPF statement for last 6 months

For Self-Employed

  • Copy of MyKad (both front and back).
  • Business Registration Certificate where the company must be at least 2 years old
  • Last six month’s bank statements for the company
  • Most recent Form B from the Inland Revenue Board.

Further documents may be required by the bank in case your salary consists of a variable component too.

Fees & charges

Fees and charges as applicable to RHB renovation loan are as mentioned below.

Processing Fee: Nil

Late Payment Fee: 1% of the current outstanding loan amount

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