Dream home incoming—but not loving the loan? GXS Bank may have just launched the upgrade your wallet needs.
If you’re about to collect the keys to your new BTO flat, congratulations—but also, brace yourself. Renovation costs in Singapore are no joke. According to Qanvast, a typical HDB flat makeover in 2025 can cost anywhere from S$35,000 to over S$80,000, depending on your flat size and your design aspirations.
Cash payments? Often required upfront. Payment stages? Spread out, but your stress levels? Constant.
That’s where GXS Reno Club comes in.
Launched by GXS Bank, the digital bank backed by Grab and Singtel, the Reno Club is designed to take the sting out of home renovations. Whether you’re doing up a resale unit or planning a Pinterest-worthy BTO, this programme is built to support real-world renovation timelines and costs—without locking you into rigid loan terms.
Why GXS Reno Club Exists
According to GXS Bank’s customer insights, people were already putting aside about S$15,000 on average for home upgrades in 2024. With 17,000 new BTO homeowners set to receive keys in 2025, there’s a growing need for smarter renovation financing.
Traditional loans tend to work against the way renovations are actually paid. You’re expected to draw a full lump sum, pay interest on the whole thing, and face penalties if you want to repay early.
That’s… less than ideal.
GXS Reno Club: How It Works
To join the club:
- Take a GXS FlexiLoan of S$15,000 or more
- Choose a 12-month tenure
- Label the loan “RENOCLUB”
- Be among the first 1,000 applicants each month
That unlocks a package of perks designed to ease both the cost and the cash flow headaches of renovating.
What You’ll Get
Here’s a quick breakdown:
| Perk | Details |
|---|---|
| 1% Cashback on Loan Interest | Receive cashback monthly for a year |
| Bonus Interest on Savings | Extra 0.8% p.a. for 6 months on savings up to S$20,000 |
| Flexible Drawdowns | Only pay interest on what you use |
| No Early Repayment Fees | Pay back anytime, penalty-free |
| Partner Deals | Save up to S$100 at Harvey Norman, Prism+, Gain City with GrabPay or PayLater |
| Free Amazon Prime | 6-month subscription via cast.sg |
Why It’s Clever
Renovations rarely happen all at once. You’ll pay your contractor in phases—tiling, carpentry, electrical—and often need to manage multiple invoices across a few months. The GXS FlexiLoan gives you the flexibility to draw funds as needed, rather than locking in a full loan amount upfront.
No early repayment charges means if you want to clear your loan faster (say, with your bonus or ang bao windfall), you absolutely can.
Who Should Consider This?
This works best if you:
- Have a clear reno plan and budget
- Need at least S$15,000 in financing
- Want loan flexibility over 12 months
- Prefer to benefit from a few lifestyle perks (like discounted furniture or streaming)
Especially relevant for:
- New BTO owners
- Resale buyers doing major renovations
- Couples combining finances post-marriage
How To Join
Visit gxs.com.sg/renoclub and follow the steps to apply for a FlexiLoan. Don’t forget to name your loan “RENOCLUB” to unlock the perks.
Final Word
Building a home should feel exciting, not financially exhausting. GXS Reno Club offers a modern financing solution with real-world benefits—from flexible drawdowns to sweet partner perks. It’s thoughtful, useful, and—let’s be honest—overdue in the local market.
So if your renovation dreams are bigger than your current bank balance, it might be time to join the club.