Skim Rumah Pertamaku (SRP) – My First Home Scheme was first announced in the 2011 Budget by the Malaysian Government to assist young adults who have just joined the workforce, earning RM5,000 per month or less to own  their first home.

The Scheme allows young adults to obtain 100% financing from financial institutions, enabling them to own their 1st home without the need to pay a 10% downpayment. This is in line with the Government’s aspirations of increasing home ownership amongst the “rakyat”.

Many may be asking – how does this work? Is there a special government agency set up for this scheme? Do I need to apply to any government agencies to qualify for this 100% housing financing? You may find the answer below.My First Home Scheme – Skim Rumah Pertamaku

Key Features and Benefits – First Home purchase  (Subject to affordability)

  • Up to 100%  financing
  • Residential property only

Qualifying Criteria

Eligible Borrowers

  • Malaysian citizen
  • First time home-buyer
  • Individuals up to age 35 years
  • Single borrower gross income not exceeding RM3,000/month and joint borrowers gross income not exceeding RM6,000/month (gross maximum income of RM3,000/month per borrower)
    Budget 2013: Income limit for individual loans raised from RM3,000 to RM5,000 per month, or in the case of joint loans of husband and wife of up to RM10,000 per month.
  • Confirmed employee with minimum employment of 6 months with same employer
  • Generally, repayment amount must not be more than 1/3 of monthly income. This may be increased to a maximum of 50% in the event of additional credit mitigating factors as permitted under the participating bank’s existing underwriting policy.

Eligible Properties

  • Residential properties located in Malaysia
  • Minimum property value of RM100,000
  • Maximum property value of RM400,000
  • Owner occupied  (buyers are required to reside in the property)

Financing Requirements

  • Financing tenure not exceeding 40 years, subject to borrower’s age not exceeding 65 years at the end of financing tenure
  • Amortising facility only (no redrawable features)
  • Installments payable via monthly salary deduction or standing instruction
  • Savings record (3 months installment liquidity reserve)
  • Compulsory Fire insurance/takaful

Tax incentives

As announced in Budget 2011 & revised in Budget 2013, stamp duty exemption of 50% be given on instruments of transfer of a residential property priced not exceeding RM400,000.

The exemption is granted on the first residential property purchased by a Malaysian citizen and eligible to be claimed once only within the exemption period.

The first residential property means a situation whereby an individual does not own any residential property (or does not own a part of a residential property in the case of joint ownership) in his name at the time he applies for the 50% stamp duty exemption for residential property priced not exceeding RM400,000.

Residential property includes a terrace house, condominium, apartment or flat.

The stamp duty exemption is effective for sales and purchase agreements executed from 1 January 2011 to 31 December 2014.

Operating Mechanism

Eligible how buyer will need to apply directly with participating banks for a housing loan/financing under the Scheme.

Participating Banks

1) Affin Bank Berhad
2) Affin Islamic Bank Berhad
3) Alliance Bank Malaysia Berhad
4Alliance Islamic Bank Malaysia Berhad
5) Ambank Berhad
6) AmIslamic Bank Berhad
7) Bank Islam Malaysia Berhad
8) Bank Muamalat Malaysia Berhad
9) CIMB Bank Berhad
10) EON Bank Berhad
11) EONCAP Islamic Bank Berhad
12) Hong Leong Bank Berhad
13) Hong Leong Islamic Bank Berhad
14) Maybank Berhad
15) Maybank Islamic Bank Berhad
16) OCBC Bank Malaysia Berhad
17) OCBC Al-Amin Berhad
18) Public Bank Berhad
19) Public Islamic Bank Berhad
20) RHB Bank Berhad
21) RHB Islamic Bank Berhad
22) United Overseas Bank Malaysia Berhad
23) Standard Chartered Bank Malaysia Berhad
24) Standard Chartered Saadiq Berhad

Frequently Asked Questions

A. Skim Rumah Pertamaku

What is Skim Rumah Pertamaku (SRP) / My First Home Scheme?

The scheme is one of the measures recently announced by the Government in the 2011 Budget aimed at assisting young adults earning RM3,000 per month or less to own a home.

The scheme allows homebuyers to obtain 100% financing from 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 a borrower obtains 100% financing, Cagamas SRP will guarantee 10% (from 90% to 100%) of the financing.

With Cagamas SRP Berhad’s guarantee, does it mean borrowers under the Scheme are only liable to the bank for 90% financing only?

No, the borrowers are liable to the bank for the full financing amount (up to 100%). The guarantee only indemnifies the bank for any loss incurred as a result of financing above the 90% level.

Do I have to pay a higher interest/profit rate or any fee to enjoy up to 100% financing under the Scheme?

No, the normal interest/profit rates of the respective banks shall apply and borrowers do not have to pay for the Cagamas SRP Berhad’s guarantee.

B. Financing

Who is eligible for this Scheme?

This scheme is open to all Malaysian citizens aged 35 years old or less (age next birthday is 36 years old or less) with gross  income of not more than RM3,000 per month for single borrower and gross income of not more than RM6,000 per month for joint borrowers (gross maximum income of RM3,000 per month per borrower).

Budget 2013: Income limit for individual loans raised from RM3,000 to RM5,000 per month, or in the case of joint loans of husband and wife of up to RM10,000 per month.

I am self-employed and my average monthly income is RM2,000.  Am I eligible for the Scheme?

No, the scheme is limited to employees in the private sectors only.  Borrowers must be confirmed employees with minimum employment period of 6 months with the same employer.

I am self-employed while my spouse is a confirmed employee in a trading company earning RM2,000 per month.   Are we eligible as joint borrowers under the Scheme?

No. Only your spouse is eligible to apply because she is a confirmed employee. In addition, she has to meet all other criteria under the scheme.

My spouse and I each earn RM2,000 and RM3,000 per month respectively and we wish to obtain 100% financing to purchase our first home of RM300,000.  Would we qualify under the Scheme?

Yes. Under the Scheme, total financing obligations for single or joint borrowers must not be more than 60% of their combined net monthly income. Assuming existing total financing obligations (car instalment + personal loan) is RM1,200. In this case, maximum monthly repayment for the mortgage loan under SRP should not exceed RM1,410 per month as shown below.

Example of calculation:

  • Gross combined income :  RM2,000 + RM3,000 = RM5,000
  • Net combined income : RM4,350 (income after statutory deductions i.e. tax, EPF & SOCSO)
  • 60% of RM4,350 = RM2,610 (total financing obligations)
  • Mortgage loan repayment should not exceed: RM2,610 – RM1,200= RM1,410

Based on current interest rates and permitted maximum financing tenor of 40 years (subject to borrowers’ age not exceeding 65 years at the end of financing tenure), your maximum eligible financing amount is about RM309,000.

How can I qualify for a 100% financing to purchase a property worth RM400,000?

You may apply for 100% financing through joint borrowers with a combined income not exceeding RM6,000 (gross maximum income of RM3,000 per month per borrower).

Assuming both borrowers have zero financing obligations at the point of application, loan tenure is 40 years (provided both borrowers age do not exceed 65 years at the end of financing tenure) and meet all credit requirements of the bank, the monthly instalment of the loan should not exceed 60% of the combined monthly net income of the borrowers.

Budget 2013: Income limit for individual loans raised from RM3,000 to RM5,000 per month, or in the case of joint loans of husband and wife of up to RM10,000 per month.

My friend and I meet all the criteria.  Can we jointly apply for financing under the Scheme?

No, joint borrowers must be family members, i.e. husband and wife or siblings only, and they must all meet the criteria set.

C. Property

Does the Scheme cover completed properties as well as those under development?

Yes, the Scheme covers both completed properties and those under development.  The guarantee is effective upon full disbursement of the financing.

My spouse and I would like to buy a property at RM300,000.  Will we be entitled to RM300,000 financing if we meet the income criteria?

Valuation of the property is subject to the participating bank’s underwriting policy.  Generally, banks will finance based on purchase price or valuation (open market value) from their panel valuer which ever is lower.

My existing financing was taken up for the purchase of my first home.  Am I eligible to refinance the loan under the Scheme?

No, the Scheme does not cover refinancing of an existing loan.

D. Other Questions

How do I apply for financing under the Scheme?

Application can be made at any branch of the participating banks.

Can I apply for Islamic financing under the Scheme?

Yes, the Scheme covers both conventional and Islamic financing.

What is the maximum financing tenure?

The maximum financing tenure is 40 years, subject to borrower’s age not exceeding 65 years at the end of financing tenor and to underwriting policies of the participating banks.

Skim Rumah Pertamaku website

Note: This article was written by  on 6.10.2012 & updated by  on 29.6.2014.


  1. This is a great, makes it easier for young adults to own a house since nowadays it’s almost impossible for young adults to own a house due to high property prices especially in Klang Valley and other highly populated areas.

    A good move for young adults is to buy property slighly outside or at the edge of highly priced property area but with good access to the city.

    And one other thing, this scheme still doesn’t benefit the self-employed and young entrepreneur especially the ones that are starting out.

    Great post btw.


  2. pay for house loan will up to 40 years, sure if now i am single, 40 year from now sure i have grandchildren then the house loan settle at that time. how long that period..

  3. May anyone knows when will it review the RM3000 to RM5000 basic salary requirement? TQ

  4. Hi,

    May i know whether i still qualify as a “First time home-buyer” if my dad has transferred his house to me previously?

    Also, are there any other benefits of this scheme besides the 100% financing over 40 years tenure?

    Pardon me for my “newbie-ness” in this stuffs.

    Thanks a lot!

  5. Does this scheme applies to all residential properties within the price range and I can just go to any particating bank to request for 100% financing if all the above criteria complies?

    • Hi Chok, you can just visit to any bank to check with the bank officer whether their bank is offering the scheme. For what we know is most of the banks are offering the scheme, subject to respective banks’ management policy.

  6. adik saya dan suaminya ingin beli rumah pertamaku, suaminya masih belum pernah beli rumah dan adik saya pula combined nama dengan kakak saya untuk beli rumah kakak saya dan namanya sangkut bank sebab kakak saya masih ada tunggakan bayaran rumah ke bank… adakah adik saya dan suaminya layak mohon rumah pertamaku walaupun nama adik saya sangkut di bank?

  7. would like to ask, is any type of property can applied for this or they have particular area/types?

  8. saya belum pernah buat pinjaman bank adakah saya layak untuk memohon skim rumah pertamaku, dan bagai mana caranya…

  9. I think i meet all of the above criteria, however i dont want to buy a house from a developer rather I would like to re-build my parent’s house. Can I apply for this scheme?

    • Hi Milan, this scheme is not for renovation or rebuilding of house. It is applicable for the purchase of new or existing house/apartment/condo.

  10. hi my monthly salary is rm1400.00.
    so can i apply for my first home scheme?
    is it possible?

  11. Hi there, Currently my salary is Rm2,600.00 and my age is 23. In this situation, May let me know i am still under the First Home Scheme?
    I am really need a house for my family now.

    Liew Hon Siong


Please solve the math to comment. Thank you. * Time limit is exhausted. Please reload CAPTCHA.