Best Furniture Loan Singapore 2022: How Much Do Common Types Of Furniture Cost

“There is nothing like staying at home for real comfort.”

After completing a beautiful renovation or buying a new home, the next step for many households is to purchase new furniture. The renovation of your home only provides you with a skeleton. By furnishing your home with the relevant furniture, you will inevitably breathe life into your home.

Whether you’re going for a traditional, rustic or contemporary furniture style, the reality is that furniture can be very expensive.

After spending so much on your home renovation, you might find that you have exhausted most of your funds. Thus, you might have difficulty coming up with additional funds to purchase new furniture.

Lucky for you, Katong Credit offers you affordable furniture loans to help you build the home of your dreams.

What Is A Furniture Loan?

To put it simply, a furniture loan is basically an alternative form to a personal loan. They are specifically tailored to see you through your furniture purchase. With a furniture loan, you will be able to purchase the necessary furniture and make your home feel welcoming and complete. Thus, turning your dream home into a reality

Furniture loans are not only restricted to the purchase of furniture for your home. On the other hand, you might be looking at moving into a new office, or starting your own business. All these require you to purchase new furniture as well.

Furniture loans come with various incentives. Firstly, we don’t require that you have a minimum salary to be able to qualify for a furniture loan. All we require is proof that you have a steady flow of income per month, in the form of your pay slips or bank statements, and you will most likely be approved for the loan.

As furniture loans are considered unsecured loans, we do not require that you put up any collateral in order to receive the loan.

Credit cards and other financial institutions who are known for their notoriously high interest rates at 24 – 28% per annum. However, at Katong Credit, we aim to keep our interest rates as friendly as possible.

With friendly interest rates and no cap on your monthly salary, a furniture loan is just what you need to spruce up your humble abode or office!

Common Types Of Furniture Required For A Home And How Much They Cost

1. Bedframe (King / Queen)

After a long day of work, getting a good night’s sleep is of extreme importance.

A huge factor in ensuring that you are well rested for the night is often attributed to your mattress. However, what most people don’t know is that the bed frame that the mattress is placed on also plays an equally important role.

The bed frame forms the foundation for the mattress to lay on and without a good bed frame in place, your sleep can be interrupted by squeaking and creaking sounds. This can be off putting and disruptive of a good night’s sleep.

Average cost of a standard bed frame: $500

2. Mattress 

After a good and trusted bedframe comes a comfortable mattress. You wouldn’t want to scrimp on a mattress and end up suffering from back health issues thereafter.

If your mattress does not aid in the proper support of your body and often sinks into the bed frame, then it’s time to get a new mattress. Such mattresses will aggravate your sleeping posture and you’ll probably wake up the next day feeling tired and sore.

A good mattress is one that will be able to support your body weight and keep your spine in a neutral position.

Your body will thank you for investing in a good mattress later on.

Average cost of a decent mattress: $500

3. Dining Table

Dining tables are the heart of every home. They act as the central unity point for a home. Some may feel that a good dining table located in the dining room can signify wealth and prosperity.

More importantly, it is a place where you and your loved ones gather for a more intimate experience and to bond over your meals. If you have guests over, it can also act as a get together area out of dining periods.

More often that not, dining tables also serve multiple purposes. It can add extra style to the overall decor of the home and can also double up as a table for one to get their work done.

Ultimately, every true home needs a proper dining / family table.

Average cost of a decent dining table + chairs: $500

4. Sofa

Other than your bed which allows you to really relax and unwind, the next place you can do so is in the comfort of your sofa. It’s going to be costly compared to the above furniture but think of it as a worthy piece of investment.

It’s a convenient haven to go to at the end of a long day of work, when you wish to catch forty winks or simply to unwind in front of the television. A large sofa can also double up as a sofa bed!

If there isn’t enough space on the dining table, the sofa can also act as a guest centre to catch up with your friends and family.

At the end of the day, a good sofa adds beauty and comfort to your home, so that your home will look effortlessly stylish and comfortable.

Average cost of a decent sofa set: $1,100

5. Refrigerator

Every household cannot do without a fridge. It’s one of the most important pieces of furniture that is required in every home.

Without a fridge, your home will be deemed impractical as you won’t be able to keep your food cold. This also means that you won’t be able to prepare your meals for the day.

As an indispensable part of your home, the refrigerator is not only defines your kitchen but is also its centrepiece.

When purchasing a refrigerator, you should look for ones which are energy efficient. This energy efficiency tick rating is determined by the National Environmental Agency (NEA), in an effort to help consumers better identify more energy efficient models.

Average cost of a decent refrigerator: $700

6. Air Conditioner

With Singapore’s insane weather, it’s nearly impossible for a household to not have air conditioners installed. The feeling of stepping home to an air conditioned home after a hot day out is always comforting.

Other than relieving us from heat, air conditioners also help to improve air quality. They help to circulate and filter the air, removing pollutants and other irritants in the air.

Turning on the air con at night, especially during an incredibly hot day, can also provide us with a good night’s sleep.

Average cost of a decent air conditioner: $3,000

7. Washing Machine/Dryer

As one of the most efficient and convenient household appliance, washing machines/dryers has helped saved us a lot of the time and effort put into manually washing clothes.

When purchasing a washing machine/dryer, here are some of the things that you should consider if you’re looking between a top/front load washing machine:

1. Energy Efficiency

Front load washing machines are generally more expensive than top load washing machines. However, this is because front load washing machines are known to clean better and are more energy efficient.

2. Space

A front loading washing machine is more space friendly because you will be able to place other items on top of your washing machine. Such as your detergent, softener or your laundry baskets.

3. Performance

Front load washing machines tend to be gentler on clothes because they tumble wash them. This is suited for those with lots of delicate clothing such as lingerie, chiffon, lacey and any sheer fabrics.

Top load washing machines either spin your clothes or twist them around a pole to get the dirt off. Thus, top load washers are more suitable for heavy duty clothing (jeans, sturdy cotton) which are able to withstand such vigorous movement.

Average cost of a decent washing machine: $1,000

Applying For A Furniture Loan With Katong Credit

Buying furniture is a major purchasing decision and there are many ways to pay for it. Financing is one of the popular ways to handle the costs of furniture. While financing enables people to get the furniture they need quickly, it is essential to make the right choices and choose plans and programs that work well for specific circumstances. A furniture loan from Katong Credit makes it possible to make a dream home come true.

We understand that taking up a loan is no small matter. It is important to shop around and take some time to compare different terms to establish what will work most effectively for a person’s particular situation.

At Katong Credit, we ensure that you will be applying for one of the best furniture loans in Singapore. Our flexible loan tenure ensures that you will be able to customise your loan duration so that you will be better able to afford the monthly repayments.

Our quick loan application process also ensures that you will be able to receive the cash you need for your furniture purchase as soon as possible. With a fast disbursement process, you will then be able to purchase the required furniture for your home or office and in the process, spruce up your home or office quicker.

If you still have any other questions with regards to our furniture loans, you can also speak to us and we will be more than happy to answer your queries!