How Much Do You Set Aside For Your Renovation?

Everyone deserves a dream home.

But here’s a reality check - with rising living costs and inflation, renovating your home is a pipe dream for the average Malaysian today. RM100,000 for a home overhaul? It could take years, or even decades of savings to achieve that! Even then, can we be sure that the costs would remain the same?

Sometimes, all we need is a little help to make our renovation process smoother and simpler. That’s where Citibank Personal Loans comes in. Here are three ways Citibank Personal Loans can help you save and maximize your ringgit in your quest to achieve your dream home.

1. Pay off those large card transactions

Sure, charging on your credit card is great for clocking those points and miles. However, shopping for your home can be more expensive than you think. Will you be able to pay for those credit card transactions on time? Late payments often come with hefty interest rates, which can then snowball into a bigger debt the following month. To manage your bill repayments more effectively, a personal loan with a lower interest rate can help tide things over when finances are tight. This is especially true when you need financial flexibility over a period of 2 to 5 years. With an extended repayment period, the smaller monthly instalments will allow you to manage your finances more effectively.

2. Minimise the impact of bill shocks after renovating

Things don’t always go as planned. Unforeseen circumstances such as delays, lack of materials and change of plans can lead to an increase in your final renovation costs by as much as 10-20%! In this case, a personal loan can provide a buffer to your renovation budget to cater for these unanticipated changes. With that extra help, you now have more flexibility to navigate through this unexpected situation!

3. Already took a loan and made transactions on your card?

Say you have already taken a loan to finance your home renovation or charged payments to your credit card. Aside from managing your home renovation, you now need to make multiple repayments to multiple banks to finance it. To ease this additional hassle, you could consolidate up to 5 credit card and/or loan accounts with Citibank Personal Loan Debt Consolidation, and only need to make repayment to one bank, at a lower interest rate and instalment amount. If the convenience derived is not enough, think about the additional cash flow that has been made available to you due to the lower interest rates and instalment amount. Leave unnecessary worries behind and focus on the completion of your dream home.

Let Citibank Personal Loans help you right away!

Budgeting for your home renovation has never been easier. You can now take a loan of up to 10X your gross monthly income, or up to RM 150,000 with no processing fees! With a loan tenure of up to 5 years, you can decide on a repayment schedule that works best for you. There are no requirements for collaterals or guarantors.

Creating your dream home is now a possibility. See it come to life, why wait? Find out more here.

This article is done in collaboration with Citibank.

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