A 100% home renovation loan means the loan offered by the bank for the specific purpose to renovate the property. But in Malaysia these loans do not exist but the loans are normally provided for only to those housing loan borrowers of the same bank or combined with the loan package.
If you want to convert your own home to a dream home, it's important to renovate in a really thorough way. For all this, that you must have good amount of cash to spend for the home renovation which is known as ubahsuai rumah in Malay.
The expenses could go into lots of money. When you have not enough money or savings for this, then you should go for loans either from the bank for refurbishing of the property. To get this amount you have to go for 100 % home renovation loan which is also known as ubahsuai rumah 100% pinjaman in Malay that is offered in Malaysia.
About 3 to four banks offer home renovation loans. A number of the banks supply loans that come with no monthly maintenance fees, flexible repayment however the maximum repayment needs to be done within 10 years period.
The names of the banks that provide loan packages in Malaysia are OCBC Bank provides renovation and refurbishment loans with no monthly fees, Alliance Bank that provides complete personal home loans, that's also called personal loan together with the mortgage financing facilities.
In addition, Maybank offers additional financing for the personal investment requirements and for home improvement as well as for any other contingencies. Those interested in taking 100 % home renovation loan can log on to the websites of banks in Malaysia.
You can also know which bank is providing the most effective rate of interest in Malaysia.
Therefore, more people may be at a search for suitable loan especially for house renovation as renovation to a new or old home may require a large sum of money.
About the Author:
Always keep in touch with us at HP Setia shall you need to do any form of interior design work or house renovation. We do provide a range of house design to meet the requirements of our customers.
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