Skim Rumah Pertamaku-i

Q: What is Skim Rumah Pertamaku (SRP) / My First Home Scheme?

A: The scheme is one of the measures recently announced by the Government in the 2011 Budget aimed at assisting young adults earning RM3,000 per month or less to own a home. The scheme allows homebuyers to obtain up to 100% financing from financial institutions, enabling them to own a home.

Cagamas SRP Berhad will guarantee the banks on financing above 90% level i.e. if a borrower obtains 100% financing, Cagamas SRP will guarantee 10% (from 90% to 100%) of the financing.

Q: With Cagamas SRP Berhad's guarantee, does it mean borrowers/customers under the Scheme are only liable to the bank for 90% financing only?

A: No, the customers are liable to the bank for the full financing amount (up to 100%). The guarantee only indemnifies the bank for any loss incurred as a result of financing above 90% level.

Q: Do I have to pay a higher profit rate or any fee to enjoy up to 100% financing under the Scheme?

A: No, the normal profit rates of the respective banks shall apply and borrowers/customers do not have to pay for the Cagamas SRP Berhad's guarantee.