Budget 2019: Benefits for lower income buyers

In order to help the lower income group nationwide to finance the purchase of their first homes, the government will spend RM1.5bil on affordable housing and this fund will be set up by Bank Negara.

1. Monthly income less than RM2300
2. Malaysia Citizens
3. The property price is up to RM150,000

This fund will start from 1 Jan 2019, available for two years or until the fund is fully utilised. Buyers can apply at participating financial institutions, include AmBank, Bank Simpanan Nasional, CIMB Bank, Maybank, and RHB Bank. The financing rate is up to 3.5% per annum.