Home Renovation Loan

We offer unsecured home renovation loans up to $300,000 SGD with longer loan tenures to provide you with one of the best loans in town.

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What is a Home Renovation Loan?

Recently purchased your dream home? The next step you might be considering is renovation works.

Most homeowners choose to renovate their homes to make it look more attractive and, in the process, improve the style of their humble abode.

However, you might have exhausted most of your savings through the purchase of your new home. This is where a home renovation loan can be pivotal.

A home renovation loan is a form of personal loan that provides you with the necessary funds to cover the cost of your home renovation works. It can help to cover for costs such as electrical and wiring works, painting and redecorating works and structural alteration.

Whether you are looking to make way for your growing family, build your dream kitchen or simply to spruce up your house, a home renovation loan might just be what you require.

Benefits of a Home Renovation Loan with Lending Bee®

Our home renovation loan stands out as we provide our borrowers with a wide range of unique benefits.

Better and improved
credit scores

loan tenures

Ease of application
and approval


FAQ on Lending Bee's Home Renovation Loans

Frequently Asked Questions

How does a home renovation loan work?

After exhausting most of your savings on purchasing your dream home, a home renovation loan can come in extremely handy to aid you in your home renovation plans.

A home renovation loan ensures that the cost of your home renovation is accounted for. This way, you will not have to strain your finances to achieve the look and feel of your dream home.

What are the uses of a home renovation loan?

A home renovation loan can be used for:

  • Electrical and wiring works
  • Painting and redecorating works (e.g., papering walls)
  • Flooring and tiling
  • Structural alteration
  • Basic bathroom fittings (e.g., bathroom heaters)
  • External works (e.g., roof / fences)
  • Carpentry (e.g., built in cabinets / cupboards)

What is the average cost of home renovation in Singapore?

Depending on your type of dwelling, below is an estimate of how much you can expect to spend on your home renovation:

New flats:

  • 3-room (60 – 65 sqm): $32,000
  • 4-room (90 sqm): $42,600
  • 5-room (110 sqm): $52,100


Resale flats:

  • 3-room (60 – 65 sqm): $42,600
  • 4-room (90 sqm): $58,500
  • 5-room (110 sqm): $65,200


Executive Condominiums: $20,000 and up

What are some of the common major home renovation works I can expect and their cost?

1. Hacking / Demolition ($6,000): Labour needed to hack, touch-up and rebuild walls.

2. Masonry ($10,000): Tiling, flooring, wet works, and waterproofing.

3. Carpentry ($24,000): Built-in furniture. These include wardrobes, storage spaces, cabinets and other customized storage spaces.

4. Ceiling and partition ($5,000): Box-ups, false ceilings, partition walls, etc.

5. Plumbing ($1,000): Installation of water fixtures which include sinks, bathtubs, toilet bowls, shower sets, water filtration system, etc.

6. Electrical works ($4,000): Electrical outlets such as lighting, data, heater, power points and wire extensions.

7. Painting ($2,000): 2-3 coating paint job for walls and ceilings.

8. Glass and aluminium ($3,850): Used for window panes, mirrors, glass partitions,

9. Cleaning and polishing ($500): Cleaning of entire house, disposal of debris and dirt, polishing marble floor, etc.

How can I budget for my home renovation costs?

1. Determine your budget

Consider your finances and be honest about what you can afford.

This doesn’t mean that you will have to limit your renovations based on your current account balance.

Home renovation loans allow you to borrow money specifically for financing your renovation project.

If you do decide to take a home renovation loan to finance the project, be cautious not to overstretch your finances.

2. Be realistic

It’s easy to do a simple google search and list down the various home renovation projects that catch your eye.

However, it’s important to get your head out of the clouds and stay grounded. You should remember to differentiate your needs from your wants.

Keep in mind that the renovation meets your basic needs.

These are those things that will make the home more functional for you and those living in it.

You can consider adding some extras if you can still afford to. These include those things that appeal to your vanity such as expensive tiles for your kitchen back splash.

3. Request and compare quotations

Requesting quotations is a great opportunity to compare different companies and determine which would be the best one to work with.

A reliable contractor will take the time to visit your property and discuss your needs.

They will then be better able to provide you with a quotation for their services.

Never go with a firm that offers to give you a quotation without visiting your home.

A simple online search will bring up various professional contractors.

Go through their websites or ratings and shortlist up to five of them.

Get in touch with the firms to find out what services they offer and how much they would charge for the renovation.

4. Consider doing some things yourself

There are some aspects of renovations that may not require technical skills.

Consider painting the walls yourself or installing IKEA shelves to customize your space.

Doing some tasks yourself can help to bring down the costs of the renovation.

You’ll also have a great sense of accomplishment from having contributed towards achieving your dream space.

5. Have a contingency fund

Often times, your renovation might likely run over budget.

This happens in a good number of projects. It often leaves homeowners frantically seeking extra funds in order to complete the project.

Don’t let this be your story. If you’ve received a quotation for S$30,000 on your renovation, you should budget to spend more than this.

This will ensure that you’ll have a buffer in case you end up spending more on the project.

Who is eligible for a home renovation loan?

To qualify for a loan with Lending Bee®, you’ll simply have to:

  • Be a Singapore Citizen, Permanent Resident or a Foreigner with a valid work permit
  • Be at least 21 years old
  • Be employed / self-employed

What are the benefits of a home renovation loan with Lending Bee?

1. Achieve the look of your dream home

Your home is probably something that you are going to spend a considerable time of your life in.

Hence, it pays to spend a little more to design and furnish it to your liking.

With a home renovation loan, you’ll be able to make up for the deficit in funds and turn your dream home into a reality.

2. Increase the value of your home over time

With the borrowed sum, you’ll be able to spruce up and make improvements to your property.

Thereby, increasing the value of your home should you wish to sell it in the future.

3. No collateral required

As we do not require collateral for you to take out a home renovation loan, the equity of your home will not be taken into consideration.

That said, a tip is to prioritize renovation works that require more work to be done.

Does your bathroom require remodelling? Do you need to change the tiles of your living room? Does your apartment need repainting?

By prioritizing your renovation works, you will also in turn save on your renovation loan.

4. Receive your money in one lump sum

Rather than borrowing money from your friends and family who might not have the means to cover for the entire cost of your home renovation, you might wish to consider taking out a home renovation loan.

With a home renovation loan, you’ll be assured that you’ll receive the loan in one lump sum.

This allows for you to plan your home renovation costs and budget for any unexpected emergencies.

What documents are required to obtain a home renovation loan?

For Singaporeans / PRs:

  • Proof of identity (NRIC, passport)
  • Proof of income (CPF / bank statements)
For Foreigners:
  • Work Permit / S Pass / E Pass
  • Proof of residence (Utility bills, phone bills, tenancy agreement, etc.)
  • Payslips / bank statements

What is the application process for a home renovation loan like?

At Lending Bee®, all applications for our home renovation loans are kept fast and simple.

  • Step 1: Submit your application via our online application form.
  • Step 2: We will drop you a call regarding your loan application status within the hour.
  • Step 3: Head down to your selected Lending Bee® branch, do a face-to-face verification, sign the contract and receive your loan.

How fast can I receive my loan?

We will disburse the funds to you immediately after you have accepted and signed our loan contract at any of our branches.

I have existing loans with other licensed moneylenders / Lending Bee®. Am I still eligible for a loan?

Yes, you are still welcome to apply for a loan with us!

Lending Bee® aims to help as many borrowers as possible and provide them with one of the best loan packages in the market.

We are here to serve your needs.

I have a poor credit score. Can I still apply for a home renovation loan?

Yes, you can still apply for a home renovation loan with us. We aim to help our borrowers regardless of their credit scores.

This is why we do not have specific restrictions with regard to credit scores.

Will I be charged if I make early repayments?

No, we do not charge any fees for early loan repayments.

Outstanding interests, if any, will also be nullified once you have finished repaying your loan earlier than the date stipulated in your loan contract.

Will my loan documents and information be mailed to my home?

No, we do not mail any of your loan information to your home.

All loan details will be kept digital, and private with us, unless a physical copy is requested.

Additional Resources on Home Renovation Loans

Our Latest Customer Reviews

Borrow with confidence. Lending Bee® licensed moneylender has more than 1,900 positive customer reviews on Google Business.

Virginia N R
Virginia N R
30 November 2023
Mr Soh was clearly explaining to me about the loan payment. He was very friendly and easy to converse with. Thank you! ☺️
25 November 2023
Soh is friendly and helpful, explains well
23 November 2023
Mr. Soh very professional
23 November 2023
I was serve by Dominic..
Aliff luffy
Aliff luffy
22 November 2023
Ok lah there never discriminate Malay.. very easy to get loan here if u Malay rather the go else where around here.. ? Better choose lending bee
Deetot Mario
Deetot Mario
21 November 2023
Thank you mr soh. Fast and steady 👍🏼👍🏼
Muhammad nuh
Muhammad nuh
19 November 2023
Ms soh good service
Coleen Ortiaga
Coleen Ortiaga
19 November 2023
Mr. Soh is very helpful and accommodating.
19 November 2023
My agent Soh has been very nice and helpful the process was very quick and efficient i would definitely come here again
Jae Town
Jae Town
18 November 2023
Good and fast service!

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