MyBenefits Relief on Housing - Affordable Home Loans & Financing

Home LoanMy First Home Scheme (Skim Rumah Pertamaku SRP)  

100% Home loan for employed middle-income Malaysians  
Last updated: November 26, 2017  
All information has not been verified by the relevant Ministry/Agency

What is this programme about?  

Under My First Home Scheme (Skim Rumah Pertamaku SRP) scheme, borrowers are still liable to the bank for the full financing amount (up to 100%).  The guarantee is an assurance to the lending bank and only indemnifies the bank for any loss incurred as a result of financing above the 90% level. 
My First Home Scheme announced in the 2011 Budget is a scheme to assist employed young adults earning less than RM5,000 who are unable to raise the 10% deposit money to obtain 100% financing for their first home purchase. The scheme allows homebuyers to obtain 100% financing from participating financial institutions, enabling them to own a home without having the need to pay a 10% down payment. Cagamas SRP Berhad will guarantee the banks on financing above the 90% level i.e. if an applicant obtains 100% financing, Cagamas SRP will guarantee 10% (from 90% to 100%) of the financing. There is no government subsidy involved. The cost of borrowing is the interest rate charged by the banks and there and 
no extra costs to the borrower on the portion guaranteed by Cagamas. Under this scheme, Cagamas SRP Berhad does not charge for guarantee provided. As at July 31, 2017, Cagamas has provided guarantees for housing loans totalling RM1.6bil, enabling 7,413 individuals/households to own their first homes

Who can apply? 

General Eligibility Criteria

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


The Applicant

  1. Malaysian citizen.

  2. Resident in Malaysia

  3. Below 40 years old 

  4. First home purchase (Subject to affordability)

  5. Employment Status - Confirmed employment in the private sector.  Self-employed Malaysians DO NOT qualify for this scheme.

  6. Income group (i) Single borrower gross income not exceeding  RM5,000/month (ii) Joint borrowers gross income not exceeding  RM10,000/month (based on the gross maximum income of RM5,000/month per borrower)

  7. Repayment of total financing obligation must not be more than 60% of the net monthly income or maximum financing limit of the participating bank, whichever is lower (refer to FAQ example)

The Eligible Property

  1. Residential properties located in Malaysia

  2. Status of Completion - under construction or completed properties

  3. The minimum property value of RM100,000

  4. The maximum property value of RM540,000

  5. Owner-occupied (buyers are required to reside in the property)

Financing Requirements

  1. Financing tenure not exceeding 35 years, subject to borrower’s age not exceeding 65 years at the end of financing tenure.

  2. The amortising facility only (no withdrawable features)

  3. Instalments payable via monthly salary deduction or standing instruction

  4. Compulsory Fire insurance/takaful

What are myBenefits? 

Assistance: Easy financing and loan guarantee
Income Group: Monthly income less than RM5,000
Target Group: Employed Youth


Ministry/Agency: Cagamas


Mailing address  :

Level 32, The Gardens North Tower, Mid Valley City, Lingkaran Syed Putra, 59200 Kuala Lumpur,  

Telephone: +603 - 2262 1800 

Fax:+603 - 2282 8125 / 9125

FAQ link:



Property Price: RM100,000 to RM540,000

Loan Amount: 100% of property purchase price

How to apply? 
Application process

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

.My First Home Scheme is essentially a scheme that assists home loan borrowers to take up 100% loan for their first home purchase.  The application process is similar to that of a normal home loan of the bank.  All the borrower needs to do is to express to the lending bank of his/her interest to borrow under this 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. The documents that are required for a normal loan application of the respective lending banks

  2. Additional forms and documents related to the scheme as required by the lending banks