RHB My1 First Home Loan

    RHB Bank offers the My1 First Home Loan especially for the younger generation of Malaysia. The loan facilitates them to own their first home in Malaysia with up to 100% margin of financing.

    Financing Margin Up to 100%.
    Loan Tenure Up to 35 years or up to an age of 65 years, whichever is earlier.
    Minimum Loan Amount RM100,000 (excluding MRTA).
    Interest Rate BR + 1.10%.

    Note: BR stands for Base Rate. BR is set to be 3.90% p.a. as updated by the bank effective from 02 February 2018.

    Features and Benefits

    • Specially designed for the first-time home buyers.
    • Get up to 100% finance margin on the property value.
    • Pay your instalments for a repayment tenure of up to 35 years or up to an age of 65 years.
    • Own a house at a low-interest rate.

    Fees and Charges

    Stamp Duty Fee According to the Stamp Duty Act 1949 (Revised in 1989).
    Disbursement Fee Registration of charge fee + Land search fee + Bankruptcy search fee.
    Valuation Fee For completed properties only.
    Processing Fee None.
    Cancellation Fee 1% of the loan amount (if cancelled after accepting the Letter of Offer).
    Late Payment Penalty 1% p.a. on the arrears.
    Early Settlement Fee Charged if the loan is cleared within the lock-in period.

    Eligibility Requirements

    • Malaysian citizens only.
    • Up to an age of 40 years.
    • Private sector employees only.
    Debt-Service Ratio
    • Total financing obligation must not exceed 60% of the net monthly income.
    Income Criterion
    • Single Borrower: Gross household monthly income must be within RM5,000.
    • Joint Borrowers: Gross household monthly income must be within RM10,000.
    Property Eligibility
    • Residential properties only.
    • Minimum property value: RM100,000.
    • Maximum property value: RM500,000.
    • First-time home buyers only.

    Documents Required

    Mandatory Documents
    • A copy of NRIC.
    • Sales & Purchase Agreement or the booking receipt from the developer.
    • Latest 3-6 months’ salary slip.
    • Proof of savings (ASB, FD, or CASA) to show the average month-end balance for at least 3 instalments.
    • Latest EPF statement.
    Any One of the Following Documents
    • Latest 3-6 months’ salary crediting statement.
    • Latest Form BE with the tax payment receipt.

    How to Apply

    Online Application
    • Visit the bank’s official website.
    • Open the loan page and click the “Apply Now” button.
    • Fill up the necessary details in the form.
    • Submit the form online.
    • A bank representative will call you to discuss the details of the loan within 2 working days.
    Offline Application
    • Visit the nearest branch.
    • Express your interest in the loan.
    • Fill up the application form.
    • Attach the supporting documents.
    • Submit the application at the branch.

    Realise your dream of owning a home in Malaysia with the RHB My1 First Home Loan. If you have a property in mind, then don’t wait any longer. Just make sure that you are eligible for the loan and then apply for it.


    Q. Should I buy a fire insurance policy?

    A. Yes. You have to mandatorily buy a fire insurance/takaful policy.

    Q. What are the instalment payment modes available?

    A. The instalments must be paid by setting standing instructions or through monthly salary deduction.

    Q. Can I redraw the funds from my payment?

    A. No. The My1 First Home Loan does not allow you to redraw your payment.

    Q. Can I rent out the property I buy?

    A. No. You are not allowed to rent out the property you buy with the loan amount. You are required to reside in the property.

    Q. What is the minimum loan tenure offered?

    A. The minimum loan tenure offered under the facility is 5 years.

    Q. Do I get a refinancing on my current home loan?

    A. No. The scheme does not offer refinancing option.

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