24th January 2025 - 4 min read
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.
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:
Note:
*Total MRTA/MRTT/CLTA + FEC financing not more than 10%
^Total FEC financing is capped at 5%
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.
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.
This method ensures that you only pay for completed work, allowing for greater control over your budget while ensuring quality work from your contractors.
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.
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:
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.
Iman writes about personal finance with curiosity. She is interested in the stories behind money, the hesitation around big decisions, and the small habits that shape financial futures. Off the clock, she is either dissecting a film or climbing her way up the leaderboard in her favourite games.
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