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.
|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.|
|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.|
|Any One of the Following Documents||
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.