Bank Loans
SJKP (Rumah PertamaKu)
The Skim Jaminan Kredit Perumahan (SJKP) offers two distinct packages to facilitate homeownership, notably requiring no down payment from buyers. The standard SJKP provides financing of up to 110% of the property price or RM500,000 (whichever is lower), while the enhanced SJKP MADANI offers even greater support with financing up to 120% or a maximum of RM360,000. Both schemes feature affordable repayment terms of up to 35 years or until the applicant reaches age 70, allow for joint applications with immediate family members, and are available through either Conventional Loan or Islamic Financing structures.
LPPSA
The LPPSA financing scheme offers several key benefits, starting with a permanent fixed interest rate of 4%, providing certainty and stability for your long-term budgeting. A significant advantage is that existing salary deductions are not considered financial commitments, which greatly enhances your eligibility and borrowing power. The scheme provides 100% financing without restrictions on the number of properties owned, extending even to land purchase and construction projects. Furthermore, to maximize your loan qualification, your total gross salary is calculated to include all allowances and bonuses.
Borneo Housing Loan
The Borneo Housing Loan is a subsidized initiative by the Sarawak State Government designed to make homeownership more accessible. It offers financing of up to 100% of the property's cost or the company's valuation, with the total loan amount ranging from RM140,000 to RM320,000 based on the applicant's salary scale. Beneficiaries enjoy a highly subsidized interest rate of just 3% per annum. The repayment period extends to a maximum of 30 years, contingent on the applicant's retirement age, ensuring the loan tenure does not exceed 70 years for pensionable staff or 55, 58, or 60 years for EPF contributors.