21st September 2026 - 3 min read
You can now include renovation costs in your home loan with the Makeover Flexi Loan, from RHB Bank and The Makeover Guys. It covers up to 90% of the property’s value, plus up to 30% more for renovation and related costs, for a total of up to 120%.
With a standard home loan, you can usually borrow up to 90% of the property’s value, and the renovation is paid for separately with savings, a personal loan, or a renovation loan.
The extra 30% can go towards your renovation, legal and documentation fees, and Mortgage Reducing Term Assurance (MRTA). MRTA is insurance that pays off the rest of your home loan if you pass away or become totally and permanently disabled. If you take an Islamic home loan, the same cover is called Mortgage Reducing Term Takaful (MRTT).
It’s also a full flexi loan. You can put extra cash, like a bonus, into the loan, which lowers what you still owe and the interest you pay on it. If you need that money back later, you can take it out again, which is called a redraw.
As an example, on a RM500,000 home, you could borrow up to RM450,000 to buy the property, and you’d pay the remaining RM50,000 yourself as your down payment. You could then borrow up to RM150,000 more for your renovation, MRTA, and legal fees.
| RM500,000 Property | Amount |
| Property financing (up to 90%) | RM450,000 |
| Additional financing (up to 30%) | RM150,000 |
| Total financing (up to 120%) | RM600,000 |
The final loan amount you get depends on RHB Bank’s check of your income and any loans you already have.
Since the renovation is part of your home loan, you apply once and make one monthly repayment. Home loan interest rates are generally lower than personal loan rates. Your renovation cost is also spread over your home loan’s repayment period of up to 35 years or until you turn 70, whichever comes first, while most personal loans run for up to 10 years. The savings you’d have set aside for renovation can go towards furniture or your emergency fund instead.
RHB Bank pays out the renovation money bit by bit, each time your contractor finishes a stage of the work. The renovation is done through The Makeover Guys, which handles the design, project management, and construction.
Your renovation budget is set when you apply for the loan, so get a quote first to see how much of the extra 30% you’ll need. You can also compare home loan rates before sending an enquiry through The Makeover Guys’ website.
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As a creative content writer, Eloise has covered finance, business, lifestyle topics, and even moonlights as a singer-songwriter outside of RinggitPlus. Her current interests are learning the best ways to optimise spending and credit card hacks to gain more airline miles.
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