According to statistics, the depletion of earth’s natural resources has tripled in the last four decades due to the production of goods and so on. Global warming also causes an increase in oxygen depletion, which may have an effect on human health. Since energy consumption is rising at an alarming rate, eco-friendliness is becoming increasingly important in today’s society.
As a result, many homeowners are becoming concerned with the environment and have incorporated green renovation into their homes. LED lights are increasingly being used in interior design, especially installed with a false ceiling or a TV console. It not only beautifies the interior but also improves energy efficiency.
Why is it necessary to go for green renovation?
If you are concerned about current environmental issues, you can work together with CMIB and do your part to create an environmentally friendly home. However, doing your part to reduce energy consumption can not only help the environment but help you save money on your utility bills. For example, many consumers have begun to choose energy-efficient 5-star electrical products instead, which not only save energy but also help to save cost in the long run. This is due to the fact that a green home uses less energy and water.
Green renovation provides numerous opportunities to make an excellent sustainable choice. Home renovation is a challenging task. However, using eco-friendly materials can alleviate your renovation concerns. CIMB offers Singapore’s first Shariah-compliant renovation-i financing product and is here to help you with your financial renovation challenges.
How does CIMB make going green easier for you?
It provides a green renovation-i financing to assist homeowners in need of green renovation assistance. CIMB is also currently offering one of the lowest* renovation financings in Singapore. If you’re in a hurry to finish your green home renovation, you could perhaps put your mind at ease about the extended waiting period now, as this financing plan only required 1-day principle approval^!
It may be costly to renovate your desired interior design style while conserving environmental sustainability. However, CIMB will provide financing of up to S$30,000 with quick approval. It is also one of the lowest* renovation financing rates in Singapore from as low as 4.15%* p.a. (EPR 4.64% p.a.).
What are the eligibility criteria for Green Renovation-i Financing in order for you to get started?
If you sign up for a CIMB Green Renovation-i financing, your money will be disbursed via cashier’s order in your preferred Renovation Interior Designer name. Minimum financing that you can request for disbursement is S$10K and up to 6X monthly income or maximum S$30K whichever is lower. Terms and conditions apply.
Due to the current environmental situation, many individuals in developing countries contribute to going green by reducing packaging waste. Solar products and renewable energy sources appear to be becoming more common, as they can be found in almost any place or building. By incorporating environmentally friendly products such as solar panels into your home renovation, you will be eligible for this green renovation-i financing.
Getting started is easy. Homeowners simply need to fulfill at least 5 items out of the 14 items listed on the Green Renovation checklist to be eligible for the CIMB Green Renovation-i financing, such as:
- Use of efficient LED lighting: longer lifespan and lower in maintenance costs
- Use of ceiling fans for ventilation: a good way to improve air circulation while saving energy
- Use of energy efficient 5-ticks rated air-conditioners, refrigerators, or clothes dryers
- Use of low-VOC paints: less likely to release harmful chemicals into landfills
- Use of non-toxic flooring, coatings, laminates, wall coverings
- Use of FSC-certified wood flooring or LEED certified tiles
- Use of 4-tick WELS rated washing machines
LED: Light-emitting diode
VOC: Volatile Organic Compound
FSC: Forest Stewardship Council
LEED: Leadership in Energy and Environmental Design
WELS: Water Efficiency Labelling Scheme
To enjoy CIMB green renovation financing rewards
If you meet the requirements listed above, you may enjoy flexible financing tenures of 1 to 5 years. All restoration needs are covered, including those finished or under-construction residential properties. Participate in this eco-friendly renovation and begin living sustainably with CIMB today!
*Terms and Conditions apply. For more information, visit https://cimb.sg/greenxreno
^One-day in-principle approval is only valid if the completed application form and required documents are submitted on a working day (excluding Saturdays, Sundays and Singapore Public Holidays). Approval in-principle is subject to further assessment and is not the final and formal approval by the Bank.
Content sponsored by CIMB. The information shared above is provided strictly on a non-reliance basis, and does not constitute any form of advice from Renopedia or CIMB Bank Berhad. You should make your own assessment of your financial situation and needs.
