Cash Mart Pte Ltd is one of the very few licensed moneylenders in Singapore that strictly operates independently where clients information are kept fully confidential and not distributed. As a licensed personal loan moneylender in Singapore, we do not advertise nor solicit any advance fees for pre-approved loans through SMS, over the phone or emails. In case of any issues, contact us at 6397-4111 or

An All-Inclusive Guide to Getting A Renovation Loan in Singapore

Your Privacy and Security, Protected

We take full measures to protect your identity.

Your Application is 100% confidential.

Small Loans, Big Solutions

Access extra cash when you need it the most from your online lending partner.

Short Term Loans

We offer the most flexible repayment terms you can meet with ease.

Money on Demand

Get your cash in less than 30 minutes after you signed your loan contract with us.

Trusted Transparency

From our online loan calculator to loan contract - we ensure no hidden charges!

Eligibility and Documents Needed
  • Loan applicant must be aged 21 years and above
  • Singapore Citizen or Permanent Resident
  • In employment
For Salaried and Commission-based Employees
  • Identification Card (NRIC)
  • Singpass Login
  • Proof of billing ( Any latest bill indicating residential address)
  • Latest 3 month original payslip (Only applicable if there is no cpf contribution)
  • Letter of employment (Only applicable for new employment)
For Self Employed
  • Identification Card (NRIC)
  • Singpass Login
  • Notice of assessment (NOA indicating trade income)
  • ACRA (Accounting/Corporate Regulatory Authority)
  • Proof of billing ( Any latest bill indicating residential address
For Taxi Drivers
  • Identification Card (NRIC)
  • Vocational license
  • Taxi pass
  • Min 7 days job summary
  • Proof of billing ( Any latest bill indicating residential address)

Monthly Installment Calculator

Get the numbers you need here.
How much do you want?
$ 5000
How long do you want it for?
Total Interest:

$ 180.00

Total Payment:

$ 5,180.00

Weekly Installment:

$ 1,295.00

We Take The Stress Out of Borrowing
With 4 Simple Steps

  • Sign-Up Online

    Fill up our loan inquiry form after using the online loan calculator. Get a call from our loan officer to schedule your visit with us.

  • Verify Information

    Visit us and bring your personal documents. Our loan officer will verify your information as part of our due process.

  • Get Funds

    Get your funds in as fast as 30 minutes after signing your loan agreement with us.

  • Repayment

    Make sure to repay your loan on time to get a hassle-free higher loan amount. Pay through PayNow, bank transfer or in-person.

How Personal Loan In Singapore Can Help You

What is a Renovation Loan?

A renovation loan is a personal loan meant to aid in financing changes in your home.

Thinking of changing the lights in the kitchen? Does the bathroom need new tiles?

A renovation loan can pay for all these and more. A renovation loan will help you fix your dream home without putting too much strain on your finances. It is the answer to your renovation needs.

Most licensed moneylenders in Singapore offer a lower interest rate for renovation loans.


How a Renovation Loan Works

Make sure that you have all necessary documents before applying.

Applying for a renovation loan is applying for an unsecured loan.


What is an unsecured loan?

This type of loan needs no collateral or guarantor. The creditworthiness of the borrower depends on various factors.

A licensed moneylender in Singapore will analyze your capacity to pay. They will look at your lifestyle and consider the various ways you can pay for it. They will develop a payment scheme suited for you.

Unlike secured loans, unsecured loans need lesser requirements. Provided that you give the necessary documents, your chosen moneylender can issue the loan immediately. You can receive it in approximately 30 minutes to an hour.

If you are approved, make sure to pay your loan on time. This will help you develop a healthy financial relationship with your lender. This can also increase your credit score.

Where to Use a Home Renovation Loan?

You can use renovation loans on the following:

  • On electrical and wiring works
  • Painting and redecorating wall such as changing wallpapers
  • Flooring and tiling the house
  • Simple bathroom fittings such as heaters
  • Carpentry like fixing built-in cupboards
  • Changes on external parts of the property which includes the roof and fence
  • Alterations on property structure

If you want to buy new furniture or appliances, there are other loans specifically made for that. Renovation loans are meant only for redecorations or changes on the property.

Where Can I Apply for A Renovation Loan?

If there is an urgent need to redecorate, consider applying for a renovation loan from licensed moneylenders.

Secured loans offered by banks need more time to process. They also need more documents and have strict qualifications.

If you are in a hurry, apply for your renovation loan with a licensed moneylender in Singapore.

Licensed moneylenders need less documents and will process your renovation loan faster. They will also consider your financial health.  They will create a payment scheme that is easy on your finances.

When choosing a financial institute, select one that strictly follows the Moneylenders Act. You must also check if they are members of the Credit Association of Singapore (CAS).

How Can I Apply for a Renovation Loan?

Before applying for a renovation loan, make sure that you have all the important documents with you. Renovation loan application is very easy and convenient.


Step 1: Visit the website of your chosen licensed moneylender.


Step 2: Fill up the renovation loan application form. You can find this on the website after using a renovation loan calculator.


Step 3: Wait for the loan manager to call you for approval. They will schedule an appointment that is convenient for you.


Step 4: Go to the licensed moneylender’s office on your appointment date.  You need to sign the loan agreement but read it very carefully before signing.


After signing, you can receive your loan immediately in cash.


Licensed moneylenders require you to visit the office in person to receive the loan.


How Long Before the Renovation Loan is Approved?

It is possible to get your loan approval in about an hour or less.


Signing up the online renovation loan application. This will take about 3-5 minutes. Then you will receive a call immediately if it is a working day. If it is a Sunday or a holiday, you will receive a call at the earliest possible time on the next working day. 

Visit the direct lender's office to know more about the loan and get verified. Once approved, you can receive your loan money in less than 1 hour.


Should I Apply for a Large Renovation Loan?

A loan whether big or small is a major responsibility. You must be confident that you can pay for the loan on time.

Planning makes all the difference. Consider the loan you want to get. You need a financial capacity to pay the loan on as agreed.

If you borrow a small amount, it might not be enough. It might cause you to borrow more. A loan too massive may cause you to default your loan. Decide what you need and apply for what will not sacrifice your daily necessities.

Using an online calculator can help you in making a decision. It is a very important instrument developed by licensed moneylenders for the borrower’s convenience.


Who Provides the Best Renovation Loan in Singapore?

Licensed moneylenders are regulated strictly by the Ministry of Law. When you apply for a renovation loan from licensed money lenders, you are protected by the law.


Although it is very tempting to apply from unlicensed moneylenders, never consider it. Unlicensed moneylenders offer more money with loans and do not require any proper qualifications. However, they charge exorbitant interest rates. Their loan collection practices involve physical and verbal harassment.


The Ministry of Law in Singapore forbids any associations with loan sharks.


Who Can Apply for a Legal Renovation Loan?

Anyone who passes the eligibility procedures can apply for a renovation loan. You just need to provide the documents needed by your chosen financial institute. 

The Moneylenders Act requires licensed moneylenders to follow due process in providing loan services. Licensed moneylenders adhere to meticulous guidelines when providing loan services.  

Upon passing the loan application process, you are approved to get the loan.

You are dealing with an ah long if there are no required documents for a loan application.

if it is too good to be true, then it probably is.


Where Can I Find The Best Renovation Loan Terms in Singapore?

Looking for the right money lender is overwhelming. In Singapore, there are various licensed moneylenders that can suit your needs. It can be very hard to choose the best one.

Before you apply, think about the amount you need to borrow.

Gauge how much you need to borrow and repay without sacrificing your daily necessities.

Work out the amount of time needed to settle the loan in full. Compare all your choices and look for good deals. Decide on a lender whose eligibility requirements you can provide.

Go through all possible choices and decide on the renovation loan that satisfies your needs. Be assured that when you apply from licensed moneylenders, the interest rate will not go higher than 4%. Decide on a short-term loan that is offered by the financial company.


How Do You Calculate Renovation Loans in Singapore?

The MinLaw strictly keeps an eye on licensed moneylenders. To maintain a good environment in the moneylending industry, rules and regulations are updated periodically.

The security and fair treatment of both the moneylender and the borrower are maintained well.

There is a cap for unsecured loans. This was placed by the Ministry of Law in Singapore.

Borrowers earning less than $20,000 per year, will be capped at $3,000, which is the maximum amount of total loan that all moneylenders in Singapore can provide.

Borrowers earning $20,000 have an aggregate loan that is capped at 6 times a person’s monthly salary.

For example:

Borrower A earns $3,000 a month. This means that Borrower A’s income per year is more than $20,000. Borrower A can get a total loan of $18,000 from all moneylenders in Singapore. If Borrower A is approved of $11,000 loan, he can only borrow $7,000 from other licensed lenders.


Only the capital loan amount is included in the loan cap. This does not encompass the Interest charge and other fees.


How Much Renovation Loan Can I Get in Singapore?

For a renovation loan, the computations for the loan are based on the guidelines of the Moneylenders Act. The calculations for your renovation loan rely on your income per year.

Consider this:


Borrower B does not have a job for a month. On February 2020, he finally starts working. In April 2020, he applies for a loan of $3,000.

  • January 2020 - no salary
  • February 2020 - $3,000
  • March 2020 - $3,000


The calculations based on the annual income is 0 + $3,000 + $3,000 = 6,000

  • $6,000/3 = $2,000
  • $2,000 x 12 = $24,000


The income of Borrower B is more than $20,000 a year. He can borrow up to 6 times his salary per month which is $18,000.

Renovation loan calculations rely on the annual income of a person. Annual income calculation is reliant on the last 3 months before a person applies for a loan.


How Do You Use a Renovation Loan Calculator?

The Renovation Loan Payment Calculator is very easy to use. Type in the amount you would like to borrow and the most convenient repayment term for you.

Your daily needs should be considered aside from the loan repayments. You have to consider your other financial responsibilities and plan your repayments well.

The loan calculator is a tool that shows you how to adjust your finances. It will allow you to determine if you can pay the loan easily without needing to sacrifice your daily necessities.


What is the Interest Rate of Renovation Loans?

When computing for the interest rates, always remember to use the Renovation Loan Payment Calculator. Settling your loan on time should not be difficult. It should not be a hindrance in meeting your daily needs.

Ensure that you always apply your renovation loan from a licensed moneylender. You can be sure that interest rates will not go higher than 4%.


How Renovation Loan Impacts My Finances?

A renovation loan is essential to achieving your dream house. This can give you the breathing room you need to handle your finances well.

Repayment of the loan depends on how well you handle your finances and your self-control. If you have a renovation loan, it will also build your credit score.

Choose a loan amount that will not be a burden to repay and will let you manage your other responsibilities well.



Why a Renovation Loan Gets Declined?

Declining a renovation loan application has many factors. The most common factor is a low credit score.

Important information is gathered by the licensed money lender from the applicant. They will verify the information and identification by comparing your up-to-date documents.

The Moneylenders Credit Bureau authenticates the information provided. The licensed moneylender informs the applicant that the information will be sent to the Bureau. The credit bureau will produce your credit record. If you get approved, the money lender will keep a copy of your record in its secured database for five years.

A credit record is an account of your previous financial history. If you have a low credit score, the lender will think of you as less creditworthy. The lender will conclude that you are a high risk to default a loan. A high credit score means that you are a responsible payer and has a high chance of approval.

If your loan is declined, the licensed moneylender will eliminate your credit report from the record. 

Another factor for declined renovation loan application is when you exceed your loan cap. Loan cap is based on your salary. Keep in mind that the MinLaw sets loan cap on lenders who offer unsecured loans. If you are earning less than $20,000 a year, you can only borrow until $3,000. If you are earning more than $20,000 annually, you can borrow as much as 6 times your monthly salary. Ensure that you do not go above the highest loan amount with other moneylenders. If you do, then you will be declined by your chosen moneylender.

If you are lacking documents and do not pass the eligibility process, you will be declined.


How Will Applying for a Renovation Loan Affect My Credit Score?

Any loan amount will still affect your credit score. You have to make sure that you are able to repay on time.

Moneylenders have the power to update your credit profile. They have to do this regularly. In the future, you may choose to apply for a loan from banks or other financing facilities. They consider the credit score when approving a loan. If you have a good credit score, you will get approved for a loan faster.

Is Applying for an Online Renovation Loan Safe?

Licensed moneylenders are monitored strictly by the Ministry of Law in Singapore. They are not allowed to give out information to anyone other than the borrower and the Registrar. Aside from that, they can also submit your credit information to the Moneylenders Credit Bureau. This is also applicable to online renovation loans.

Is It Possible to Apply For A Renovation Loan Over the Weekend?

More often than not, financial institutions do not work during the weekends. They usually operate during the weekdays. Unforeseen circumstances cause one to need to apply for a loan as soon as possible.

Luckily, there are many licensed moneylenders that will allow you to apply for a renovation loan even during the weekends.


Is There a Renovation Loan Near Me?

Renovation loan applications can now be made online. This makes everything even more convenient and easier. The nearest renovation loan can be made from the comfort of your home.

You can apply for a renovation loan anytime you want and from anywhere you are. You can even do it during the weekends.

After filling up the forms on the website, you will get a call from a loan officer to set an appointment. Go to the office. Sign the loan contract and you can receive your loan money immediately.


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