MyBenefits Relief on Housing - Affordable Home Loans & Financing

Home FinancingSkim Jaminan Kredit Perumahan (SJKP)  

Housing loan guarantee for a self-employed applicant from the low-income group  
Last updated: November 26, 2017  
All information has not been verified by the relevant Ministry/Agency

What is this programme about?  

This guarantee scheme is to assist self-employed and non-fixed income earners to secure housing loan to purchase their first home priced up to RM300,000. Applicants must have good repayment capability even though they do not have a monthly fixed income. This programme is for non-fixed income earners such as petty traders, farmers, taxi drivers, fishermen etc. or fixed income earners (subject to the first RM200 million only). Syarikat Jaminan Kredit Perumahan (SJKP Berhad) has entered into an agreement with participating financial institutions to provide housing loans for eligible borrowers and guaranteed by Skim Jaminan Kredit Perumahan (SJKP).  With SJKP’s assistance, it is expected that more Malaysians would be able to afford their own home.

Who can apply? 

General Eligibility Criteria

(Contact ministry/agency for all other requirements, if any)

 

  1. Malaysian citizen.

  2. Resident in Malaysia

  3. Age 18 years old and above

  4. Income group Minimum average gross monthly income of RM1,000

  5. First time purchase of residential property low/medium cost /affordable home and for occupation

  6. Open to newly completed/under construction or sub-sale or auctioned residential property.

  7. Must reside within 20 km radius from the bank where the application is being made.

  8. Total loan repayment < 65% of gross income.

  9. CCRIS record of arrears < 2 months for the last 12 months.

  10. No other adverse records for the last 24 months.

What are myBenefits? 

Assistance: Housing loan guarantee
Income Group: > Monthly income more than RM1,000
Target Group: Self-employed Malaysians

 

Contacts

Ministry/Agency: 

Syarikat Jaminan Kredit Perumahan Berhad a  wholly-owned company of the Minister of Finance

Website: http://www.sjkp.com.my/sjkp_w2/

Email: enquiry@sjkp.com.my  
Mailing address  :

12th Floor, Bangunan Setia 1, 5 Lorong Dungun, Bukit Damansara,

50490 Kuala Lumpur.
Telephone: 03-2096 5000  

Fax:03-2096 5090

FAQ link: http://www.sjkp.com.my/sjkp_w2/index.php/services/faq

 

Conditions

Property Price: RM300,000

Loan Amount: Up to 100% of the purchase price subject to maximum RM300,000 financing (including MRTA / MRTT) and: 65% of gross income 

How to apply? 
Application process

(Contact ministry/agency to find out the procedures and processes)

In general, the application process is easy involving several simple steps:
Identify the house that you wish to purchase and obtain the relevant documents such as the draft of sale and purchase agreement / 'booking fee' receipt etc.
Obtain a confirmation letter from an authorised person pertaining to your income. The letter shall state your name, identification card number, the source of income, average monthly income, place of business and tenure of business. Please obtain two separate letters if both husband and wife have a separate source of income. 
Provide supporting income documents such as savings account statement, Business License, Fisherman's Registration Card or a copy of your land titles (for agricultural activities) or other related documents to substantiate any trading activities.
Bring all the stated documents to the nearest participating financial institutions branch, and apply for a home financing under the guarantee scheme.

 

What documents do I need for application?

The general requirement of documents needed for the application

(Contact ministry/agency for all other requirements, if any)

  1. Copy of the identity card (myKad) of the applicant 

  2. Completed application form

  3. Confirmation letter from an authorised person pertaining to your income

  4. Savings account statement 

  5. Business License, Fisherman's Registration Card or a copy of your land titles (for agricultural activities) or other related documents to substantiate any trading activities

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