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Bank Negara Malaysia has launched an RM1 billion fund aimed at helping low-income Malaysians obtain loans to purchase their first home.
Under the “Fund for Affordable Homes” scheme, Malaysians with a household monthly income of RM2,300 and below are eligible for loans with a financing rate capped at 3.5 percent per annum for residential properties priced RM150,000 and below.
Speaking at the launch today, Finance Minister Lim Guan Eng said the fund, which was included in his Budget 2019 speech last November, is expected to last two years.
Under the “Fund for Affordable Homes” scheme, Malaysians with a household monthly income of RM2,300 and below are eligible for loans with a financing rate capped at 3.5 percent per annum for residential properties priced RM150,000 and below.
Speaking at the launch today, Finance Minister Lim Guan Eng said the fund, which was included in his Budget 2019 speech last November, is expected to last two years.
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