• TCC Renovation Loan

    Home Loan BYTES FROM OUR KITCHEN

    TCC Renovation Loan

    TCC is offering its members extremely competitive rates for the Renovation Loan. The applications for the TCC Renovation Loan should include an accurate quotation obtained from the contractor of the member. The disbursement payments are made to the contractor for this loan. The members are also provided the option to request payments for the loan as disbursement by progress to the contractor.

    • You can apply for the TCC Renovation Loan as a single applicant or as joint applicant.
    • TCC follows the flat interest rate structure for the Renovation Loan. They provide extremely low and affordable interest rate packages to their members. The interest rate for this loan is 4% per annum. However, note that the inspection of the premises should be conducted before the commencement of the renovation work.
    • When you apply for the TCC Renovation Loan online through the official TCC Singapore website, you will enjoy a discount of 10% on your processing fees.

    You’re probably eligible for a TCC Renovation Loan if you are

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    TCC Renovation Loan Minimum Age

    At least 21 years old

     TCC Renovation Loan Maximum Age

    Less than 65 years old

    TCC Renovation Loan Eligible Employment Type

    Salaried / Self-employed with regular income

    TCC Renovation Loan Minimum Income

    No Info


    Your TCC Renovation Loan amount eligibility is based on these factors

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    TCC Renovation Loan Minimum Salary

    No Info

    TCC Renovation Loan EMI

    Existing Loan EMI - EMIs of other loans lower your eligibility


    Increase your eligible TCC Home Renovation Loan amount by these steps

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    TCC Renovation Loan Add Spouse as Co-applicant

    Make your immediate family member a co-applicant, and his income will add to your eligibility


    Documentation needed to apply for an TCC Bank Renovation Loan

    • 1. The applicant’s last 15 months of CPF Contribution History.
    • 2. Marriage Certificate
    • 3. Sales & Purchase Agreement
    • 4. HDB Sales Order
    • 5. CPF Property Withdrawal Statement
    • 6. Property Tax Title Deed etc.
    • 7. Latest Income Tax NOA (Notice of Assessment) document
    • 8. Latest Payslip
    • 9. Self – employed applicants must provide their Income Tax NOA (Notice of Assessment) document for the last 2 years

    TCC Home Renovation Loan Basic Details Updated on 19 Aug 2017

    TCC Home Renovation Loan Basic Details
    Min Loan Amount S$10,000
    Interest Rates 4%

    Overview of TCC – The Credit Cooperative

    TCC or The Credit Cooperative has a mission to be the First-Choice Credit Co-operative in Singapore to provide family oriented financial services that are fair and steeped with quality and value. They have recently celebrated 85 years of serving the island of Singapore with these financial services. They strive to do justice their tagline, “The Credit Co-operative with a heart.” They seek to fulfill their mission of providing the best possible financial and other related services to the members of TCC as well as their families. Whether you need additional funding to plan your perfect wedding or have an upcoming surgery that requires some immediate cash or even to consolidate your debt from other banks and financial institutions, TCC will never fail to assist you with your financial issues. Their rich values that enables them to provide top notch financial solutions include Nurturing, Convenience, responsibility, flexibility, honesty, caring, reliability, responsiveness and fairness.

    Eligibility Criteria for the TCC Renovation Loan

    The eligibility Criteria for the Main and Joint Applicants are as follows –

    • The applicants must be Singapore Citizens (SCs) or Singapore Permanent Residents (PRs). Foreigners are not eligible to apply for this loan.
    • The applicants must be between the ages of 21 years and 60 years old.

    The eligibility Criteria for the Surety / Sureties are as follows –

    • The applicant must be a Singapore citizen (SC).
    • The applicant must be between the ages of 21 years and 55 years old.

    Documentation Requirements for the TCC Renovation Loan

    The documents required for the Main and Joint Applicants are as follows –

    • A front and back copy of the applicant’s NRIC
    • In case the applicant is applying for a joint TCC Renovation Loan, they must provide a copy their Marriage Certificate
    • The applicant must provide a proof of Ownership document of the renovating property such as –
      1. Sales & Purchase Agreement
      2. HDB Sales Order
      3. CPF Property Withdrawal Statement
      4. Property Tax Title Deed etc.
    • The applicant must provide a copy of their Renovation Quotation
    • Salaried employees must provide the following income proof documents –
      1. The applicant’s CPF Contribution History for the last 15 months.
      2. The applicant’s latest payslip
      3. If the applicant is applying for a loan amount that is more than SGD 10, 000, they must also provide their latest Income Tax NOA (Notice of Assessment) document.
    • Employees working on commission must provide the following income proof documents –
      1. The applicant’s commission statement for the last 6 months
      2. The applicant’s Income Tax NOA (Notice of Assessment) document for the last 2 years
    • Self – employed applicants must provide the following income proof documents –
      1. The applicant’s Income Tax NOA (Notice of Assessment) document for the last 2 years

    The documents required for Surety / Sureties are as follows –

    • A front and back copy of the applicant’s NRIC
    • Salaried employees must provide the following income proof documents –
      1. The applicant’s last 15 months of CPF Contribution History.
      2. The applicant’s latest payslip
      3. If the applicant is applying for a loan amount of more than SGD 10, 000, they should also provide their latest Income Tax NOA (Notice of Assessment) document.
    • Employees working on commission must provide the following income proof documents –
      1. The applicant’s commission statement for the last 6 months
      2. The applicant’s Income Tax NOA (Notice of Assessment) document for the last 2 years
    • Self – employed applicants must provide their Income Tax NOA (Notice of Assessment) document for the last 2 years

    Applying for the TCC Renovation Loan

    You can apply for the TCC Renovation Loan by contacting TCC through the following ways –

    • Visit the official TCC website and navigate to the TCC Renovation Loan webpage
    • Click on the Application Link available on the page and fill out the application form with the requested details.
    • Take a printout of the forms and do not forget to sign on all the forms.
    • You can then email the form along with the requested documents to TCC with the email address provided on the webpage OR fax the application and documents to TCC with the fax number provided online.
    • As an alternative, you can also walk into the TCC office and apply for the TCC Renovation Loan directly in person.

    Other Loans Offered by TCC Singapore

    Frequently Asked Questions

    1. How is the loan disbursed when my application for the TCC Renovation Loan is accepted?
    2. Once your application for the TCC Renovation Loan is accepted, your loan amount will be made payable to your contractor. However, as an alternative, upon your request, your loan amount can also be disbursed by progress payments to your contractor.

    3. What is the interest rate structure offered for the TCC Renovation Loan?
    4. TCC follows the flat interest rate structure for the Renovation Loan. The interest rate for this loan has been set at 4% per annum.

    5. What is the eligibility criteria for the main applicant applying for the TCC Renovation Loan?
    6. The main applicants and / or joint applicants applying for the TCC Renovation Loan must be Singapore Citizens (SCs) or Singapore Permanent Residents (PRs) and between the ages of 21 years and 60 years of age to be eligible for this loan.

    7. Are foreigners eligible to apply for the TCC Renovation Loan?
    8. No. The TCC Renovation Loan is only applicable to Singapore Citizens (SCs) and Singapore Permanent Residents (PRs). Foreigners are not eligible to apply for this loan.

    9. Do I get any discount when I apply for the TCC Renovation Loan online?
    10. Yes. Applicants who apply for the TCC Renovation Loan online through the official TCC website will enjoy a discount of 10% on their processing fees.

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