Malaysia My Second Home Program (MM2H)

CALCULATOR APPLICATION CONSULTATION

Home Financing-i

Malaysia My Second Home Program (MM2H)


Financing-i

i. Home Financing-i Malaysia My Second Home Program (MM2H)

ii. Home Financing-i Sarawak Malaysia My Second Home (S-MM2H)

Concept

Tawarruq

Purposes

  • Completed property & Property under Construction from the Developer for owner-occupied

Requirements

MM2H

S-MM2H

Age

Min age 35 years old on the date of application and not exceed 70 years old at the end of financing tenure

Min age 30 years old on the date of application and not exceed 70 years old at the end of financing tenure

Income

Minimum gross income of RM40,000 per month

Minimum gross income of RM40,000 per month

Others

  • Not bankrupt
  • No bad records with any other Banks or financial institutions
  • Joint Application is allowed and must be related / direct family members:
    1. Husband / Wife
    2. Parents
    3. Children
    4. Siblings

  • Not bankrupt
  • No bad records with any other Banks or financial institutions
  • Joint Application is allowed and must be related / direct family members:
    1. Husband / Wife
    2. Parents
    3. Children
    4. Siblings

Margin of Financing

Financing up to 80% + 5% (MRTT / Legal fees / valuation cost)

Profit Rate

Package.

With MRTT

Without MRTT

MM2H / S-MM2H

As low as SBR + 1.70%

As low as SBR + 1.90%

Standard Base Rate (SBR): 3.00%

MRTT = Mortgage Reducing Term Takaful

Financing Tenure

Minimum: 5 years

Maximum: up to 35 years or the age of 70, whichever is earlier.

Fees & Charges

ITEMS

CHARGE

Wakalah Fee

RM28.30

Custodian of security documents after full settlement

RM10.00 per set per month (inclusive 0% GST)

Issuance of statement for EPF withdrawal

RM15.00 per document (inclusive 0% GST

Payment Methods

  • Salary Deduction
  • Salary Transfer
  • Saving Deduction
  • Electronic Payment

Required Documents

Required Documents

Copy of Passport valid for at least six (6) months before expiry.

Copy of valid Work Permit with at least six (6) months prior to expiration.

Employer confirmation letter.

Original copy of last salary slip and photocopy of salary slip for the last three (3) months.

Photocopy of Bank Statement /Bank account book where salary is credited for the last 3 months.

Annual Income Statement / Annual Tax Statement.

A copy of the relevant National Identity Card to ensure that the customer is not a Permanent Resident (PR) or Citizen of Israel.

Credit Report from the National Bank / Licensed Company from the Country of Origin for evaluation of total commitment and record of payment of financing installments.

Applicants under the MM2H program need to provide additional documents such as:

  • Copy of MM2H Approval Letter
  • Copy of passport with MM2H visa stamp.
  • Copy of the Fixed Account Certificate

Product Disclosure Sheet

CALCULATOR APPLICATION CONSULTATION

Banking is better with our app

It's simple, secure and convenient

More about our app
TOP