Eligibility

Singapore Citizen or Singapore Permanent Resident, aged 21 and above

Minimum income of S$30,000 p.a. for Main Applicant

At least 1 borrower must be the owner of the property renovated

Documents Required

-	NRIC (front and back) foreigners are not eligible
-	Proof of ownership of Property to be renovated e.g. CPF Property Withdrawal Statement, Property Tax Bill
-	Proof of Relationship between Main and Joint Applicants e.g. Marriage Certificate, Birth Certificate
-	Income documents:

FOR SALARIED APPLICANTS

Latest computerised salary slip OR

Latest Income Tax Notice of Assessment OR

Past six months' CPF statement

FOR SELF-EMPLOYED/FOR COMMISSION-BASED EARNERS

Past two years' Income Tax Notice of Assessment

FOR NEW RENOVATION WORKS

Original renovation quotation or invoice

Renovation Permit [if applicable]

FOR REFINANCING

Existing bank's Letter of Offer/Approval Letter AND existing bank's last 6 months Renovation Loan Statement of Account

Personal (Main Applicant) Details

Fields marked * are mandatory. Please fill in the required information.

Salutation*

Dr Mr Mrs Ms Mdm

Full Name (as in NRIC/Passport)*

NRIC/Passport No.*

Nationality*

Date of Birth*

Marital Status*

Highest Academic Qualification*

Mailing Address (if different from Residential Address as in NRIC/Passport)

Postal Code

Residential Status*

Residential Type*

Length of Stay In Residence*

Year(s) Month(s)

Home Number*

Office Number

Mobile Number

Email Address

Employment Details

Employment Status*

Employee Sole Proprietor Partner Director

Company Name*

Company Address*

Postal Code

Designation*

Length of Employment/ Business*

Year(s) Month(s)

Income Details

Basic/Fixed Annual Income*

S$(For example, $30,000 to be key in as 30000.)

Variable Annual Income

Other Income

Source of Other Income

Financial Commitment

Financial Institution

Facility Type

Loan Amount/Credit Limit

Monthly Instalment

If there is more click 'here '

Personal References

Name of Relative not living with you (for credit reference)*

Relationship to Applicant*

Home Number*

Office Number

Mobile Number

Any Joint Applicant for the Renovation Loan?

Yes No

Personal (Joint Applicant) Details

Relationship to Main Applicant*

Salutation

Dr Mr Mrs Ms Mdm

Full Name (as in NRIC/Passport)*

NRIC/Passport No.*

Nationality*

Date of Birth*

Marital Status*

Highest Academic Qualification**

Mailing Address (if different from Residential Address as in NRIC/Passport)

Postal Code

Residential Status*

Residential Type*

Length of Stay In Residence*(Years/Months)

Year(s) Month(s)

Home Number*

Office Number

Mobile Number

Email Address

Employment Details

Employment Status*

Employee Sole Proprietor Partner Director

Company Name*

Company Address*

Postal Code

Designation*

Length of Employment/ Business*

Year(s) Month(s)

Income Details

Basic/Fixed Annual Income*

Variable Annual Income

Other Income

Source of Other Income

Financial Commitment

Financial Institution

Facility Type

Loan Amount/Credit Limit

Monthly Instalment

If there is more click 'here '

Personal References

Name of Relative not living with you (for credit reference)*

Relationship to Applicant*

Home Number*

Office Number

Mobile Number

Details of Property To Be Renovated

Address*

Postal Code

Property Status*

Completed Pending TOP

Estimated Date of TOP*

Type of Property*

HDB Condominium Landed Shophouse

Length of Stay*

Year(s) Month(s)

Name of Property Owner(s)*

Expected Commence Date of Renovation*

Expected Completion Date of Renovation*

Financing Requirements

Loan Amount Required

Loan Tenure

Year(s)

Loan Package

Monthly Rest Flat Rate

Disbursement Mode

Normal Branch

Purpose

To finance renovation cost

		Total Contractor's Quotation S$
		Amount Paid To Date S$
		1st CO: % of net loan proceeds
		2nd CO: % of net loan proceeds
		3rd CO: % of net loan proceeds
Unless indicated, (i) Cashier's Order (CO) will be sent via normal mail to your mailing address indicated: (ii) Net loan proceeds will be issued in 1 CO which is free. Additional COs requested are chargeable.

Refinance renovation loan with other bank

Outstanding Loan S$ [1 CO will be issued payable to the bank]

My Renovation Loan Servicing Account

You are required to open and maintain a Maybank Savings/ Current Account for the purpose of servicing the monthly instalments and all other sums due and owing upon approval of the loan application.

	Please debit my Maybank Savings/ Current Account
	No:
	I/ We agree to open a Maybank Savings Account for the above purpose. In event of joint loan application, this Savings Account will be opened under all loan applicants' names and the Operating Condition of this Account will be "Any one may sign".

Beneficial Owner of Accounts: Yes No

Apply for Maybank Internet Banking: Yes No

Application for Other Credit Facilities

Credit Card - Family and Friends Platinum MasterCard

How Did You Find Out About Our Loan?

Maybank Branches Maybank Website Direct Mailer/Flyer Newsletter/Magazine
Real Estate Agents Family/Friends Showflat Contractors Member-Get-Member Others

Important Information for Renovation Loan

Please click 'here'.

Monthly Rest Package

Interest for Renovation Loan is calculated on monthly rest basis pegged to Renovation Loan Board Rate [RBR], which is currently at 8.50% p.a.

Loan Amount < S$15,000 7.80% p.a. [RBR less 0.70% p.a.]

Loan Amount => S$15,000 6.25% p.a. [RBR less 2.25% p.a.]

Bundled with Home Loan 5.98% p.a. [RBR less 2.52% p.a.]

If disbursement is on or before 10th of the month, the instalment shall commence 1 month from the disbursement date. If disbursement is after 10th day of the month, only interest shall be payable on the 1st of the month following the first drawdown. Monthly instalment to commence 1st of the second month following the disbursement.

A prepayment fee of 1% of the amount prepaid will apply, subject to a minimum of S$100, for any prepayment made within the loan tenure. Subject to 1-month prior written notice or payment of interest in-lieu thereof.

Default payment interest of 3% over the Board Rate, subject to a minimum of S$20 is applicable for amounts overdue and not paid on due date.

Flat Rate Package

Interest for Renovation Loan is calculated on a flat rate, initial added on basis. Effective interest rate ranges between 5.99% p.a. and 8.66% p.a., depending on the package and the loan tenure selected

Loan Amount < S$15,000 4.00% p.a.

Loan Amount => S$15,000 3.22% p.a.

Bundled with Home Loan 3.08% p.a.

The first instalment is due on disbursement date and shall be deducted from the loan proceeds.

Partial prepayment is not allowed.

Full prepayment fee of 1% of the amount prepaid will apply, subject to a minimum of S$100 if full prepayment is made within first year of the loan tenure. Subject to 1-month prior written notice or payment of interest in-lieu thereof. In such an event, Rule 78 shall be applicable in determining the full prepayment amount.

Early settlement fee being 20% of total interest payable for the entire loan tenure prorated for the remaining loan period will apply in the event of full prepayment during the tenure of the loan.

Default payment interest of 5% over the Prime Rate, subject to a minimum of S$20 is applicable for amounts overdue and not paid on due date. Prime Rate is currently 5.25% p.a.

Applicable to both Monthly Rest and Flat Rate

A Maybank SGD Savings or Current account in your name(s) must be opened and maintained during the currency of the Loan.

Processing fee of 0.75% of the approved loan amount subject to a minimum of S$200 is payable by you upon approval of the loan and shall be deducted from the loan proceeds.

Cancellation fee of 1% subject to a minimum of S$100 is payable on the loan amount cancelled before disbursement.

Disbursement will be in one CO, payable to the contractor or financial institution where applicable. Additional COs chargeable at S$5 each and will be deducted from the loan proceeds.

A late payment fee of S$60 shall be payable for each month or part thereof if during which any amount payable is not paid when due.

Terms and Conditions Governing Renovation Loan Facility [Reno/Ver2/8June2009] applies. A copy is available from any of our branches or www.maybank2u.com.sg.

Upon loan approval, the Approval Letter and Cashier's Order(s) will be mailed to the address indicated in this application form.

Loyalty Benefit

If you maintain a minimum Home Loan of S$200,000 at the point of Renovation Loan application, your first year interest paid on your Renovation Loan up to a maximum loan outstanding of S$10,000 shall be refunded in one lump sum subject satisfactory conduct of both Home Loan and Renovation Loan. Other Terms and Conditions apply.

Declaration and Acknowledgement

Please click 'here'.

For Maybank Renovation Loan Account

By submitting this application, I/We hereby:

request that a Maybank Renovation Loan (the "Renovation Loan") be granted to me/us on the terms and conditions set out in this Application Form, the Terms and Conditions Governing Renovation Loan Facility ("General Terms and Conditions") , a copy of which is made available at all the Maybank's Branches in Singapore and www.maybank2u.com.sg, or in any other document(s) that Maybank may require me/us to execute from time to time (collectively referred to as the "Renovation Loan Terms") as amended, modified or varied in Maybank's letter of approval (the "Approval Letter").

confirm that I/we have not obtained a renovation loan from any other financial institution for the Property.

declare and confirm that I/we have read, understood and accepted the Renovation Loan Terms. By signing this Application Form, I/we agree to abide and be bound by the Renovation Loan Terms.

agree that Maybank has absolute discretion to decline this application, extend such other loan amount (including a lower loan amount than the amount applied for in this application) or impose other conditions on me/us as Maybank may deem fit without assigning any reason whatsoever. I/we have read, understood and agree to be bound by Clause 5 of the General Terms and Conditions.

agree that with the issuance of the Approval Letter, the Renovation Loan is granted by Maybank to me/us without the need for any further acceptance from me/us and the Renovation Loan will be disbursed in accordance with the Renovation Loan Terms. Upon the issuance of the Approval Letter, the terms therein will form part of the Renovation Loan Terms.

warrant and represent that:


(a)	I am not/ neither of us is an undischarged bankrupt and no statutory demand or legal proceedings has been served on or commenced against me/us.
(b)	the information given in or in respect or in connection with this application is true and complete, including but not limited to all information and data concerning me/us, the Renovation Contract (as defined below) and the ownership of the Property, and all documents (whether originals or copies) submitted at any time in connection with this application are genuine (or in the case of copies, are true and accurate copies of the corresponding original). I/we acknowledge that Maybank will rely on the representations made and the information and documents given by us/me absolutely in assessing and handling this application. If any of my/our personal circumstances change, I/we undertake to notify Maybank immediately.
(c)	the agreement(s) made between me/us and the contractor in respect of the renovation work to be carried out on the Property in form and substance satisfactory to Maybank (the "Renovation Contract") is/are genuine and complete and was entered into on an arm's length basis and I am not/ we are not related to the contractor in any way nor do I/we have any interest in the contractor's business.

authorise Maybank to verify and confirm the information given in this application from sources Maybank may deem fit and to request for any additional document evidencing our/my monthly/annual income.

unconditionally consent to Maybank disclosing any information concerning this Renovation Loan, the Property, the Renovation Contract, details or data relating to us/me, our/my accounts and this application to any other person(s) (whether as Maybank's service providers, agents, business partners or otherwise) for the purpose of processing this application or for such other purposes as Maybank may from time to time deem necessary or expedient.

agree that Maybank may send by ordinary mail or such other means at my/our own risk the Approval Letter, cheque(s) or cashier's order issued for the purpose of the disbursement of the Renovation Loan, my/our credit cards and all other documents and communications addressed to me/us and shall be deemed delivered and received by me/us on the day falling immediately after the date of posting.

10.

agree to abide by the prevailing Terms and Conditions governing Internet Banking Services, the use of the Bank's ATM Cards, Phonebanking Services and/or such other electronic services made available by you from time to time which are applicable to my/our account(s) including any amendment(s) that the Bank may from time to time impose, a copy of which is made available at all the Bank's branches in Singapore and www.maybank2u.com.sg, which I/we acknowledge to have read and understood.

11.

understand that the application for Maybank2u.com.sg (Online Banking) is applicable to all accounts with "Single" or "Joint - any one to sign" mandate, now or hereafter maintained by me/us.

12.

agree to open a Savings or Current Account (the "Account") in Singapore Dollars with Maybank from which Maybank shall be entitled to debit the Account for monthly repayments, instalments, interest, insurance premium (if any) and any other charges and expenses as and when they are due for payment in connection with any services approved pursuant to this application. I/we shall at all times maintain sufficient funds in the Account to meet such payments. The Savings account will be operated in accordance with the mandate and the Bank's Rules and Regulations governing such account. I/We have read and understood the Rules and Regulations governing such account and agree to abide by it. I/We authorise the Bank to honor all payment instructions signed in accordance with the stated signature requirements. I/We agree that the signature(s) on this application form shall constitute the official signature(s) of the above-mentioned account for the Bank's record and verification purposes. For Personal Joint Savings Account Only - I/We agree that any liabilities whatsoever incurred to the Bank by us in respect of the account shall be joint and several. In the event of death of any of us, the Bank is authorised to pay the balance of the account to the survivor(s).

13.

confirm that I am/we are the sole Beneficial Owner(s) of the loan account(s). Beneficial Owner includes (i) in the case of a natural person, one who ultimately owns or controls the account (ii) the person on whose behalf a transaction is being conducted, or (iii) the person who exercises ultimate effective control in the case of corporate or unincorporate bodies. I/ We further acknowledge that in the event I am not the Beneficial Owner of the loan account, the bank will be informed immediately.

14.

confirm that I/we have concurrently also applied for the Maybank Credit Card, on the terms and conditions set out in the Maybank Credit Cards Terms and Conditions ("Credit Card Terms), a copy of which is made available at all the Maybank's Branches in Singapore. I/we further acknowledge that the approval of my/our application for the Maybank Credit Card is at Maybank's absolute discretion and Maybank is entitled to decline this application without giving any reason.

15.

declare and confirm that I have read, understood and accepted Credit Card Terms. By signing this application form, I/we agree to abide and be bound by the terms of this application form and Credit Card Terms.

16.

confirm that none of my/our spouse(s), parent(s) and/or child(ren) is/are employee(s)/director(s) of Maybank Singapore Limited or Malayan Banking Group, and none of my/our guarantor(s) is/are employee(s)/ director(s), or spouse(s), parent(s) and/or child(ren) of the employee/director of the Maybank Singapore Limited or Malayan Banking Group.

17.

agree to be solely or jointly and severally liable for all out-of-pocket expenses and/or charges incurred in relation to my/our application regardless whether this application is approved or declined. I/we further agree to the provisions set out in Clause 10 of the General Terms and Conditions in respect of costs and expenses.

18.

acknowledge that the preferred interest rate of the Renovation Loan set out in the Application will be applicable to me/us if my/our application for the Maybank Housing Loan is also approved simultaneously by Maybank. In the event that only the Renovation Loan is approved and granted by Maybank, I/we confirm that the Renovation Loan is granted to me/us at the prevailing interest rate applicable for the Renovation Loan as stated in the Approval Letter. The Bank reserves the right to revoke the preferred interest rate upon termination of Home Loan.

19.

declare and confirm that I/we have read, understood and agree to be bound by Clause 23 of the General Terms and Conditions.

Submission of Application Form

Please click 'Back' to edit information and click 'Confirm' to view application form. Please print ALL the pages on the application form, sign, and mail it to us with the required documents. For your convenience, we have included a self-addressed envelope.

The submission of this application form does not mean that the Bank has approved of this application. The Bank reserves the right to reject any application without assigning any reason whatsoever.

Thank you for your application.