1. MYHOME Scheme
Key Features
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Offers incentives up to RM 30,000 per home unit
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10,000 subsidized units
Eligible Buyers & Financing Requirement
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Malaysian citizens above 18 years old
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First Home Purchase
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Monthly Household Income must fit as follows:-
| Type | Market Price (RM) | Subsidized Price (RM) | Minimum Size (Sqft) | Total Household Income (RM) |
|---|---|---|---|---|
| MyHome 1 (Peninsular Malaysia) | 80,00 - 150,000 | 50,000 - 120,000 | 800 | 3,000 - 4,000 |
| MyHome 2 (Peninsular Malaysia) | 150,000 - 300,000 | 120,000 - 270,000 | 850 | 4,001 - 6,000 |
| MyHome 1 (Sabah & Sarawak) | 90,000 - 120,000 | 60,000 - 90,000 | 800 | 3,000 - 4,000 |
| MyHome 2 (Sabah & Sarawak) | 120,000 - 250,000 | 90,000 - 220,000 | 850 | 4,001 - 6,000 |
Table 1: Monthly household income criteria for eligibility.
2. Youth Housing Scheme (YHS)
Key Features
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Provide a loan amount of 100% of the purchase price, RM500,000
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Provide 5% of the purchase price to finance insurance (MRTT/MRTA)
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20,000 buyers only on a ‘first come first serve’ basis
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50% of stamp duty exemption on loan and transfer agreements
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Monthly instalments of RM200 per month for 2 years
Eligible Buyers & Financing Requirement
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Married youth aged between 21 to 45 years old
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Monthly Household Income (Two persons) must not exceed RM10,000 per month
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Maximum financing tenure is 35 years, provided the borrower’s age does not exceed 65 years at the end of the tenure.
3. Klinik 1Malaysia
Sumber imej: Yayasan Dakwah Islamiah Malaysia
What Is It?
Public clinics offering doctor consultations and common medicines for only RM 1 for Malaysians below 60 years old. Those above the age of 60 receive free medication. It also offers surgeries but at specific rates, far lower than private institutions guaranteed.
Where Is It?
Track down the closest Klinik 1Malaysia near you.
4. Child Welfare Benefits
What Is It?
Government subsidy of public sector nurseries mainly for children. It solves working parents' dilemma: Should one of us stay home and take care of the kids?
What are the benefits?
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Monthly assistance of RM250 in nursery fees for parents with a monthly income of not more than RM900.
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Monthly assistance of RM180 in nursery fees for parents with a monthly income of RM5,000 compared with RM3,000 previously.
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Double rate of daily allowance for children in institutions under JKM from RM1.50 to RM3 for school-going children and RM 1 from 50 cents for those who are yet exposed to schooling.
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Daily allowance of RM30 for senior citizens.
5. BUDI MADANI
So, what exactly is BUDI MADANI? BUDI MADANI is a cash contribution under the targeted diesel subsidy program in Peninsular Malaysia that benefits diesel vehicle owners. Eligible applicants can receive RM200 monthly cash assistance directly to their bank accounts.
Eligibility Criteria for BUDI MADANI:
| BUDI Individu | BUDI Agro-komiditi |
|---|---|
|
|
Make the most of these schemes!
Some of the housing schemes may no longer be applicable as the quota might have been met but don’t worry! You still can get the best rates for loans in Malaysia through our home loan comparison tool or stay updated with our latest articles to remain financially savvy!
*The above article is intended for informational purposes only. Loanstreet accepts no responsibility for loss that may arise from reliance on information contained in the articles.
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