Maybank PR1MA Home Financing is a housing loanfor middle-income households. You can build or buy a residential property ranging between RM100,000 to RM400,000 with this scheme.
Let’s take a look at the major highlights of this financing scheme:
|Financing Range||RM100,000 to RM400,000|
|Margin of Financing||Up to 110% of the property’s valuation|
|Type of Loan||Flexi Loan|
|Properties Covered||Residential properties|
|Loan Tenure||Up to 35 years|
|Interest Rate||(Base Rate + 1.75)% p.a.|
|Stamp Duty||As per the Stamp Duty Act 1949.|
|Processing Fee||RM50 to RM200 (based upon the loan amount).|
|Letter of EPF Withdrawal||RM10 per request.|
|Redemption Letter||RM50 per request.|
|Late Payment Charges||1% of the amount of the instalment.|
|Nationality Requirement||Malaysian citizen.|
|Age Requirement||21 years or above|
|Income Requirement||Individual or combined household income must be between RM2,500 to RM15,000 per month.|
|Other Requirements||Owning not more than one property.|
|Registration||Create an account via the PR1MA official website or the PR1MA mobile app and register.|
|Launch Notification||Receive notifications of PR1MA developments in your preferred area through your registered email address or though the app.|
|Application||Apply for the properties that are open for application.|
|Balloting||A balloting process will be conducted for the applicants who have met all requirements.|
|Unit Selection||If you are balloted, you will receive an invitation to choose one from the available units.|
Maybank PR1MA Home Financing is a housing scheme under the PR1MA Act 2012. This scheme by MayBank offers financing to the middle-income households through a balloting process. The facility is open to all Malaysian citizens who do not own more than 1 property.
Q. Can I apply for a property via PR1MA if my spouse lives overseas, but I live in Malaysia?
A. Yes, you can apply for the scheme as long as the joint income ranges between RM2,500 to RM15,000 per month.
Q. What are the sizes of properties available under this scheme?
A. The following are the sizes of houses available under this scheme:
Q. What are the terms to repay the loan through my EPF contribution?
A. You can opt to withdraw from EPF Account 2 if:
Q. Do I have to register if my spouse already has registered for a PR1MA house?
A. No, you are not required to register for a PR1MA house if your spouse has already registered for the same.
Q. Can I apply for this scheme if I’m blacklisted through CCRIS?
A. No, you cannot apply for the scheme if you are blacklisted through CCRIS.