So let's say I get a loan for $X at first, only to find out later (midway through reno, for instance) that I needed lesser than that, are we able to reduce our loan by that point of time?

if I am not wrong there should be a cancellation fee for the amount that is not disbursed. ie. u apply for X and signed for the loan after approval. however after the monies are ready but not disbursed but you wish to cancel, there should be a cancellation fee. its better to check with the banker for the details. I recently applied for OCBC DBS and RHB. If you need the contacts can PM me

wow with 3 banks. that's a lot! any reason why apply 3 banks? coz my colleague told me that her ID suggested they split their 20k loan into 2 smaller 15+5 I think, something to do with being able to clear one loan faster, thus better credit rating or what?

I applied for 3 and see which one approves first. then I pick the best of the 3. if split into 3 does it mean you have to pay admin fee x 3?

depends on the t and c, some got to pay extra fees , some dont 

On 6/8/2016 at 10:58 PM, gumbokins said:

wow with 3 banks. that's a lot! any reason why apply 3 banks? coz my colleague told me that her ID suggested they split their 20k loan into 2 smaller 15+5 I think, something to do with being able to clear one loan faster, thus better credit rating or what?

good strategy!

Hi All,

This is most important option for every one, who struggling for loan.