A home is more than just a place to live—it’s a space to grow, create memories, and unlock new opportunities. Whether you’re looking to expand your living area for a growing family, upgrade essential facilities like the kitchen or bathroom, or make structural repairs to enhance your property’s functionality, home renovations can significantly improve your living environment and even increase property value. 

In Malaysia, homeownership is becoming an increasingly important personal goal. With nearly 80% of Malaysians owning homes, many are also investing in home renovations to increase the long-term value of their properties. Understanding the available financial options can help homeowners make informed decisions when financing renovations. 

The RHB Full Flexi Home & Renovation Loan/Financing offers a variety of features that assist homeowners in financing their renovation projects, providing flexibility and convenience for both new and existing property owners.

Discover The Benefits Of The RHB Full Flexi Home & Renovation Loan

Financing Up To 120% Of Property Value 

With a Margin of Advance (MOA)/Margin of Financing (MOF) of up to 120%, this loan/financing covers 90% for the home purchase and up to 30% for Renovation Loan/Financing, Mortgage Reducing Term Assurance (MRTA), and Finance and Entry Costs (FEC). 

This comprehensive coverage could help homeowners finance both buying and renovating their property, subject to the following conditions: 

• Maximum financing of MRTA/MRTT* and/or FEC up to 10%^ 
• First and second housing loans/financing
• Minimum loan/financing amount of RM50K
• Property with a minimum purchase price or open market value of RM500K, and  located in Klang Valley, Johor Bahru, or Penang Island

Note:

*Total MRTA/MRTT/CLTA + FEC financing not more than 10%

^Total FEC financing is capped at 5%

Loan/Financing Tenure Up To 35 Years 

Repayment/payment terms of up to 35 years provide flexibility for homeowners in managing larger renovations. Longer payment/repayment periods allow for smaller monthly installments, making the cost of renovations more manageable without straining your finances.

Consolidated Financing Structure

Combining home and renovation financing into one package simplifies your financial management. This approach reduces the complexity of managing multiple loans/financing options and provides a clear, focused path for your financial planning.

Progressive Disbursements For Renovation Loan/Financing

This method ensures that you only pay for completed work, allowing for greater control over your budget while ensuring quality work from your contractors.

Flexible Prepayments And Withdrawals 

The RHB Full Flexi Home & Renovation Loan/Financing provides options for prepayments and excess withdrawals, which may give you more control over your finances. This flexibility could help you manage payments/repayments according to your personal financial goals.

Comprehensive Coverage for Renovations

Whether it’s for a landed or high-rise property, RHB’s Full Flexi Home & Renovation Loan/Financing offers support for a wide range of refurbishment needs:

• Landed Properties: Up to 30% of the property’s market value for renovation financing. This can cover structural changes like property additions (subject to necessary certificates and approvals), repairs, and upgrades such as tiling, roofing, wiring, plumbing, and flooring. It also includes interior design projects like built-in cabinets, wardrobes, and plaster ceilings.

• High-Rise Properties: Up to 30% of the property’s market value, or a maximum of RM250,000. This can be used for essential repairs, upgrades like tiling, ceilings, wiring, plumbing, and flooring, as well as interior design projects like built-in cabinets, wardrobes, and plaster ceilings.

Unlock New Possibilities

Renovating your home isn’t just about improving its appearance; it’s about creating a space that truly works for you and your family. With RHB’s Full Flexi Home & Renovation Loan/Financing, you can explore how this financing option might support your home improvement projects and transform your living space, increase the value of your property, and make your dream home a reality. 

Before you commit to any financing, take time to consider your home’s needs, the type of renovations you’re planning, and your ability to manage the payment/repayment of the loan/financing. By evaluating these factors, you can make an informed decision that aligns with your long-term financial goals.

Visit RHB’s website today to learn more about RHB Full Flexi Home & Renovation Loan/Financing!

*The contents of this article do not constitute financial advice. Readers should conduct their own research before making a financial decision.

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• RHB Full Flexi Home & Renovation Loan/Financing