CFI Renovation Loan

In Singapore where even public housing generally costs a fortune, most would agree that a house is one’s biggest personal investment and asset. As a landlord, it is important to ensure that your rental premises are in a clean, functional, and presentable condition to attract potential tenants. Homeowners and their families would all the more understand the need to create stylish, comfortable living spaces where they spend most of their downtime in.

The Covid-19 pandemic, and the stay-home policies that have resulted from it, has certainly taught us the importance of establishing and maintaining desirable living quarters. Whether it is spending quality time with family over a meal in the dining area, or simply spending the weekend unwinding in the bedroom or living room – being able to enjoy your daily routine, be it work or play, amid an aesthetically pleasing environment at all times certainly does wonders to lift the mood.

Both first-time and seasoned homeowners alike would understand that renovation services are crucial in creating or restoring the functionality and beauty of a residence. Yet, it may be at times challenging to afford the hefty five-to-six figure price tag of a renovation project, especially right after making a home purchase, or if you’ve already spent the bulk of your savings on essential living items such as furniture and electronics.

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Capital Funds Investments

Capital Funds Investments is here to help everyday homeowners achieve the living spaces of their dreams without having to break the bank. As an established licensed moneylender with a long track record of satisfied clients, we can provide flexible, convenient renovation loan solutions at some of the lowest interest rates in Singapore, and at a shorter turnaround time than most conventional banking facilities as we skip the lengthy, tedious process of going through red tape and conducting excessive background checks.

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How it Works

CFI’s renovation loan is designed for anyone whose home, office or even business premises require a facelift, starting from a bare Build-to-Order (BTO) flat, to an aged property in a dire need of a makeover. We are here to help you bear the burden of hefty expenses incurred from interior design agency charges to contractor fees, and even the seemingly small yet essential fees such as from plumbing and carpentry.

Yet, we understand that creating the perfect, functional indoor space should not be just limited to the costs of wood works and construction. Sometimes, it takes a brand new television or sound system to truly give a boost to your living room’s home entertainment value; or perhaps all your family requires is upgraded bedding, lighting or furniture to live in better comfort and style. This is why unlike what its name suggests, our renovation loan is also applicable to cover these purchases and is not limited to just renovation works alone.

Our renovation loan is perhaps one of the most comprehensive in Singapore, as its coverage includes, but is not limited to:

  • Interior design fees
  • Painting, redecorating, flooring and tiling works
  • Bathroom fittings, electrical and wiring works
  • External works within the compound of the house
  • Flooring, tiling and bathroom fittings
  • Furniture and household appliances
  • New air-conditioning system purchases and installation
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A Choice Lender for Your Space Upgrading Needs

Aside from offering a simplified, straightforward application process that allows you to obtain a renovation loan in just an hour or less, you can rest assured that we are a trustworthy moneylender that is licensed by Singapore’s Ministry of Law (MinLaw). Our team of dedicated financial specialists are available to provide consultation for all your renovation loan needs, before customising a loan package and repayment plan that best suits your personal schedule and lifestyle.

All that is required for you to kickstart the application process to obtaining fresh funds for your renovation loan with CFI is:

  • To be the minimum age of at 18 years old
  • One form of ID, e.g. National Registration Identity Card (NRIC) or passport
  • Your latest payslip, income tax notice; OR
  • Documents reflecting your past 12 months’ CPF contributions
  • Renovation quotations or any related bills or purchase invoices

Buying a new home, or having to maintain one over several years, is already a costly and complicated feat. The next step is to ensure its spaces are liveable and enjoyable for all – and we are here to help you achieve that with a nearly-instant, hassle-free loan process that comes at the lowest interest rates in Singapore.

Submit your loan application or get in touch with us for a free consultation to find out how you can start creating the work, play or living space of your dreams today!

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Frequently Asked Questions

A renovation loan is one of the many special-purpose loan products offered by Capital Funds Investments, giving you ready access to the funds you need to fix up your home, office or business premises. They can be taken for a number of reasons, for instance: engaging an interior designer to give your home a complete make-over, or perhaps conducting extensive plumbing or electricity repairs after a living space has gone through several years of wear and tear.

No. To renovate means to improve or restore something old, such as a building, into an ideal state as if it were new again, which often suggests structural works such as carpentry or construction. Our renovation loan, however, covers much more than that.

If your home requires new kitchen appliances, a more ergonomically-designed bed, or updated lighting in order for its inhabitants to enjoy a better quality of life, it is in our opinion that these necessary purchases should be covered by our renovation loan, too.

You may take out a renovation loan from us for services and purchases that include, but are not limited to:

  • Interior design fees
  • Painting, redecorating, flooring and tiling works
  • Bathroom fittings, electrical and wiring works
  • External works within the compound of the house
  • Flooring, tiling and bathroom fittings
  • Furniture and household appliances
  • New air-conditioning system purchases and installation

Yes. Should you wish to buy high-ticket consumer goods such as a new refrigerator or a washing machine, we will grant you the renovation loan on a hire-purchase basis.

Specifically, if you are able to pay a percentage of the item’s price as a deposit, we will loan you the remainder such that you may continue to use the purchase while paying monthly instalments (e.g. ‘hire’ a washing machine or fridge), until the principal amount and interest are paid off entirely. In layman terms, a hire-purchase agreement translates to the rental of appliances, furniture or equipment until the agreed amount is paid off, after which it will fully belong to you.

Generally, banks in Singapore are only able to offer renovation loan amounts that are a certain multiple of your annual income. You will only be able to use the money for specific renovation works such as structural alterations or plumbing services, and the banks are entitled to conduct site visits to ensure you are using the loan proceeds are being used for these purposes.

CFI’s renovation loan, on the other hand, extends its special-purpose criteria beyond that to even home or office equipment purchase needs. This is because we simply want to help you to achieve the environment you desire, no matter what is required. We also guarantee a quick and simple application process that will ensure the agreed loan amount is disbursed to you immediately after your documents are reviewed and approved, usually within an hour after submission.

To be eligible, you must:

  • Be at least 18 years of age
  • Be a Singapore citizen/Permanent Resident, or a registered property owner in Singapore

No, we will try to accommodate to your needs, no matter how what your monthly or annual income may be. However, do note that the total loan amount that we grant under this programme may vary depending on salary range and other documents supplied to us.

To be apply, we will require:

  • One form of ID, e.g. National Registration Identity Card (NRIC) or passport
  • Your latest payslip, income tax notice; OR
  • Documents reflecting your past 12 months’ CPF contributions
  • Renovation quotations or any related bills or purchase invoices

Once your application has been submitted with all the required documents, it will take up to an hour for your loan application to be reviewed and approved. Upon approval we will issue you a cheque, cash, or bank transfer, depending on your preference.

No, so long as you provide and meet our abovementioned requirements. After receiving and reviewing your documents, we will determine if your preferred loan amount will be granted, or otherwise, suggest an alternative amount for your consideration.

Three years is generally the maximum loan duration period we advise as the longer your loan tenor is, the more interest is incurred. Our objective is to ultimately help our customers to ease their financial burdens, without having to accumulate unnecessary interest in the long run and after repaying their loan and interest, enjoy a debt-free status.

Yes. You may indicate your preferred tenor, although it is subject to our review and approval while we process your loan request.

Yes. We will not charge an early repayment fee, and any outstanding interest owed to us will be waived should you settle the owed amount earlier than agreed.

You may consolidate your renovation loan with CFI, along with other loans you have taken out with other financial institutions and are currently repaying, into our debt consolidation loan programme. To find out more, click here.

Yes, but you may only do so at least one month after the approval of your renovation loan with us.