Funding Your Reno Just Got Easier with This Low-Interest Personal Loan

Ease your financial headache.

A home renovation brings exciting possibilities for your space – along with the question of how you’re going to fund it. Unless you’re set to receive a vast fortune in the foreseeable future, you’ll need a solid plan for your finances.

Enter the Standard Chartered CashOne Personal Loan: interest rates start from 1.90% p.a. (EIR from 3.63% p.a.), and you get instant cash upon approval, which is great for urgent or major purchases you’re planning, like a renovation. What’s more, the loan tenure is flexible (up to five years), with structured monthly repayments.

Keep reading to find out more!

How the Standard Chartered CashOne Personal Loan can help fund your renovation

Renovation costs inch up every year – and 2025 is no different, with HDB renovation costs expected to increase by 2-3%.

To put things in perspective, a 4-room BTO renovation in 2025 is expected to range from $51,000 to $61,800 while a 4-room resale flat renovation in 2025 is expected to cost between $64,300 and $80,300.

Don’t forget the cost of furniture and your other furnishings, which the majority of homeowners we spoke to said set them back anywhere between $10,000 to $50,000.

Considering all these, a personal loan can help you manage your major purchases without depleting your emergency savings.

Keep in mind that renovations also often have significant upfront costs. To give you an example, your renovation deposit might be 5%, but you may need to fork about 40% upon the commencement of works. Assuming your quote is $55,000, this means that you’d have to fork out $24,750 by the time your renovation starts!

With the CashOne Personal Loan, you get instant access to cash, especially if it’s urgent. For instance:

• Unexpected or last-minute variation orders do crop up, so you might need extra cash on hand
• If you’re eyeing certain furniture or appliances with time-sensitive promotions and you don’t have the necessary amount on hand yet, the instant cash would come in handy
• Emergency repairs aren’t out of the question if you’ve already moved in – think flooding/water damage or wear and tear

You also have the flexibility to structure your loan repayment depending on your financial situation, such as opting for shorter terms with higher payments or longer terms with more manageable monthly instalments.

Why choose the Standard Chartered CashOne Personal Loan?

Here’s a quick breakdown of what makes the Standard Chartered CashOne Personal Loan a reliable solution for your financial commitments:

• Instant approval and cash disbursement* to your bank account – simply apply via SingPass Myinfo, which allows Standard Chartered to obtain the required information for quick approvals (e.g. your latest 6 months’ CPF contribution history or the latest Income Tax Notice of Assessment (NOA))
• The lowest** interest rate from 1.90% p.a. (EIR 3.63% p.a.) – who doesn’t love paying less on their loan?
• Compared to renovation loans that are typically capped at $30,000, it has a higher limit of up to $250,000
• A flexible loan tenure of up to five years so you can plan your repayments in bite-sized monthly instalments for better cashflow management
• Upsized rewards based on your loan amount and tenure of 3 years or more
• No late penalties*** – so you have the flexibility of repaying as low as $50 monthly without late charges

*T&Cs apply
**As of 1 March 2025
***Applicable exclusively for clients who pay their full monthly instalment amount consecutively for 6 months; finance charges will still apply to any amount unpaid from the monthly statement by the due date. T&Cs apply.

Bonus: you can fund other expenses with the CashOne Personal Loan too

Moreover, unlike a renovation loan, there are no requirements to submit your renovation quotation for approval: you can use the disbursed cash from the CashOne Personal Loan to fund any major costs incurred in tandem with your renovation, like a wedding, a dream vacation/honeymoon or preparing for parenthood.

Rest assured that the terms of the loan are fully transparent.

To get a better idea of the monthly repayments and interest rates, you can input your required loan amount in this calculator.

Make your dream home a reality with the Standard Chartered CashOne Personal Loan

Take the load off the financial burden of funding your renovation – and other major purchases – with the Standard Chartered CashOne Personal Loan.

Simply submit your application via the Standard Chartered website here for fast approval via Myinfo.

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