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 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".

In 2013 Budget, it was announced that the gross income limit was increased from RM3,000 to RM5,000 per month and certain qualifying criteria were abolished with effect from 1st January 2013.

Qualification

Eligible Borrower

- Must be a Malaysian citizen

- First time home-buyer

- Individuals up to age 35 years

- Single borrower gross income not exceeding  RM5,000/month and joint borrowers gross income not exceeding  RM10,000/month (based on gross  maximum income of RM5,000/month per borrower)

- 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

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 35 years, subject to borrower¡¯s age not exceeding 65 years at the end of financing tenure. Revised maximum tenure is in line with BNM's ruling announced on 5 July 2013

- Amortising facility only (no redrawable features)

- Installments payable via monthly salary deduction or standing instruction

- Compulsory Fire insurance/takaful

List of participating banks for inquiries with regards to the Skim Rumah Pertamaku

1 Affin Bank Berhad

03-5522 3000

2 Alliance Bank Malaysia Berhad

03-2612 9266 / 9267

3 Alliance Islamic Bank Malaysia Berhad

03-2612 9266 / 9267

4 AmBank Berhad

03-2178 8888

5 AmIslamic Bank Berhad

03-2178 8888

6 Bank Islam Malaysia Berhad

03-2690 0900

7 Bank Muamalat Malaysia Berhad

1 300 88 8787

8 CIMB Bank Berhad

1 300 880 900

9 CIMB Islamic Bank Berhad

1 300 880 900

10 Hong Leong Bank Berhad

1 800 38 8888

11 Hong Leong Islamic Bank Berhad

1 800 38 8888

12 Maybank Berhad

1 300 88 6688

13 Maybank Islamic Bank Berhad

1 300 88 6688

14 OCBC Bank Malaysia Berhad

1 300 88 5000

15 OCBC Al Amin Berhad

1 300 88 0310

16 Public Bank Berhad

1 800 22 9999

17 Public Islamic Bank Berhad

1 800 22 9999

18 RHB Bank Berhad

1 800 88 4663

19 RHB Islamic Bank Berhad

Peninsular Malaysia: 03-9206 8118

Sabah & Sarawak : 082-276118

20 United Overseas Bank Malaysia Berhad

03-2612 8121

21 Standard Chartered Bank Malaysia Berhad

03-7711 8888

22 Standard Chartered Saadiq Berhad

03-2117 7941