A "low interest" loan shouldn't mean you have very little interest in paying it back!
  • Home Loan BYTES FROM OUR KITCHEN

    CIMB Home Loan for PR1MA Homes

    CIMB Bank offers home loans at competitive interest rates. In addition, the bank offers a dedicated home loan facility for the M40 and B40 groups to provide affordable housing. This loan is offered for the properties distributed by the PR1MA programme.

    Loan Tenure Up to 35 years or 70 years of age, whichever is higher.
    Margin of Financing PR1MA Home Loan Package: Up to 100% + 5%. SPEF Package: Up to 100% + 10%.
    Interest Rate BR + 1.05% p.a to BR + 1.45% p.a. (depending on your loan amount)

    Note: Base Rate is 4.15% p.a., as specified on CIMB bank’s website, effective from 2 February 2018.

    Features and Benefits

    • Enjoy a high margin of financing of up to 100% on your property price.
    • Get sufficient financing for properties that are completed or under construction.
    • Get this loan through the 1Malaysia People’s Housing (PR1MA) programme.
    • Enjoy a long loan tenure of 30 years or until you reach 70 years of age.

    Fees and Charges

    Stamp Duties As per the Stamp Duty Act 1949 (Revised in 1989)
    • Letter Offer: RM10.
    • Principal Document: RM5 for every RM1,000.
    • Security Document: RM10.
    • Standing Instruction: RM10.
    Redemption Statement RM50/request.
    Processing Fee for PR1MA Home Loan Package Waived.
    Processing Fee for Special PR1MA End Financing (SPEF) Package RM200.
    Letter of Confirmation for EPF Withdrawal RM20/request.
    Ring Fence Processing Fee for EPF Withdrawal RM50/request.

    Eligibility Requirement

    Age
    • 21 years or more.
    Nationality
    • Malaysian citizens.
    Others
    • A valid offer to purchase letter must be provided by Perbadanan PR1MA Malaysia (PR1MA).
    • Purchase price of the property must be between RM100,000 and RM400,000 to qualify for SPEF Scheme.

    Documents Required

    Salaried Employees
    • A copy of NRIC.
    • 3 latest months’ salary slip.
    • Latest EPF statement or latest 3 months’ bank account statement.
    • Sale & Purchase Agreement or booking form from the developer.
    Self-employed Individuals
    • A copy of NRIC.
    • Business registration certificate.
    • Last 6 months’ business account statement from the bank.
    • Recent Form B with the tax payment receipt.
    • Sale & Purchase Agreement or booking form from the developer.

    How to Apply

    Offline Mode
    • Visit the nearest branch office.
    • Express your interest to apply for the loan.
    • Fill up the application form with relevant details.
    • Attach all the required documents.
    • Submit the application to the bank staff.
    Contact Centre
    • Get in touch with the bank’s contact centre.
    • Enquire about the application process and other details about the loan.
    • Follow the suggested procedure to apply for the loan.

    This special loan facility offers you an opportunity to own a house in Malaysia with the help of the PR1MA programme. With the long repayment tenure of up to 30 years, the monthly instalments are quite affordable. Make the most of this loan facility, and enjoy the satisfaction of staying in your own house.

    FAQs

    Q. Does the loan finance the entire legal fee for SPEF Package?

    A. No. The financing for the legal fee is up to maximum RM1,500 under the SPEF Package.

    Q. Should I pay extra charges if I need an account statement?

    A. Yes. The bank charges a certain cost if you need an account statement.

    • Statement for a period of up to one year:
      • First page: RM10.
      • Additional page: RM2.
    • Statement for a period beyond one year:
      • First page: RM30.
      • Additional page: RM2.

    Q. Should I pay GST for the processing of my home loan application?

    A. No. The government has changed the 6% GST to 0% GST effective from 1 June 2018.

    Q. Can I use the loan to buy a house that does not belong to PR1MA?

    A. This program is exclusively designed for PR1MA properties. You can check for other home loan schemes offered by CIMB if you wish to buy a property that does not belong to the PR1MA scheme.

    Q. Can I get a refinancing of my home loan with this loan facility?

    A. No. You cannot refinance your home loan with this loan facility.

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