A "low interest" loan shouldn't mean you have very little interest in paying it back!
  • Home Loan BYTES FROM OUR KITCHEN

    TCC Housing Loan Singapore

    Do you want to give your house a makeover? TCC Credit Co-operative Limited offers a loan to renovate your private house or HDB flat at an affordable interest rate and flexible repayment options.

    Interest Rate

    Loan Interest Rate
    Renovation Loan 4% p.a. (on a flat rate basis)

     

    Features of TCC’s Renovation Loan

    • You can borrow up 6 times your monthly salary or 6 times the collective income of both you and your joint applicant.
    • The maximum amount you can borrow is S$30,000.
    • This loan is meant for customers with lower requirements.
    • You can repay the loan over a tenure of 1 to 5 years.
    • The loan is provided only to TCC members. You can become a member for free.

    Eligibility Criteria

    The primary and joint applicants must fulfil the following criteria to be eligible for the Renovation Loan:

    • You must be a Permanent Resident or a citizen of Singapore whose age is between 21 and 60 years.
    • You must earn at least S$1,200 every month.
    • Either the primary or the joint applicant must own the property.
    • You must not be a surety currently with another TCC loan.

    Surety (or sureties) must be:

    • A citizen of Singapore whose age is between 21 and 55 years.
    • A TCC member who isn’t a surety for any other existing loan.
    • Earning at least S$2,000 of basic salary every month.

    The property must be inspected before the renovation work can begin.

    Documents Required

    Primary and joint applicants must submit the following documents:

    • A copy of the NRIC (both sides).
    • Proof of income for salaried employees:
      • Recent payslip.
      • CPF contribution history for the previous 15 months.
      • Recent income tax notice of assessment if the loan amount exceeds S$10,000.
    • Proof of income for commissioned earners:
      • Income tax notice of assessment for the previous 2 years.
      • Commission statements for the previous 6 months.
    • Proof of income for self-employed persons:
      • Income tax notice of assessment for the previous 2 years.
    • A copy of the marriage certificate, in case of a joint application.
    • A copy of the renovation quotation.
    • Document to prove the ownership of the property (HDB sales order, sales & purchase agreement, title deed, CPF property withdrawal statement, or property tax).

    The following documents must be submitted by the surety (or sureties):

    • A copy of the NRIC (both sides).
    • Proof of income for salaried employees:
      • Recent payslip.
      • CPF contribution history for the previous 15 months.
      • Recent income tax notice of assessment if the loan amount exceeds S$10,000.
      • Recent report from the credit bureau.
    • Proof of income for commissioned earners:
      • Income tax notice of assessment for the previous 2 years.
      • Commission statements for the previous 6 months.
    • Proof of income for self-employed persons:
      • Income tax notice of assessment for the previous 2 years.

    Application Process

    • The application form is available on their official website.
    • Fill it online and take a printout.
    • Sign the completed form and send it to TCC’s office via email, fax, or post.
    • You can also print it out first and fill it manually in their office.

    Contact TCC

    You can contact TCC via:

    • Phone: +6563193700.
    • Fax: +6567370735.
    • Mail: Info@tcc.org.sg.
    • Or visit the TCC office at ‘95 Killiney Road, Singapore 239537’.

    By renovating, you can add state-of-the-art facilities to your house and make your life more comfortable. If you already have a plan in mind, don’t delay it. Become a member of TCC for free and apply for the loan.  

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