AskGuru Q&A Community

Get answers from PropertyGuru experts in 24 hours

Asked by
Can I take a personal loan to renovate my new BTO flat if I have an existing home bank loan that can be paid off entirely with CPF (i.e. no monthly cash top-ups)? Or can I take both renovation loan and personal loan (since I need more than $30,000 for my renovations)?
0 •
919 views
Upvote Upvoted
Want this question answered?
Get faster responses from our experts by upvoting.
Be the first to upvote this question.

1 Answer

Ling CK
Replied
Hi,

1) There are no restrictions on what you intend to use a personal loan for.
2) The interest rate for a renovation loan is lower than a personal loan, this is the reason why most people utilize a renovation loan instead of a personal loan.
3) You may apply for both loans from the same bank or different banks ishould the same bank doesn't allow you to apply for both.

Hope the above answer to your main concerns, but if there are more query, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

Note:
Any response to our answer does not reach us.
The best way to get a follow-up is to Whatsapp or email us directly. Read More
0
Upvote Upvoted

Still looking for answers?

Get answers from PropertyGuru experts in 24 hours

Ask Your Question
Previously Asked Questions