【Year 2020】Youth Housing Scheme – Get RM200 Monthly Instalment Assistance from the Government

The government has extended the Youth Housing Scheme (or better known as Skim Perumahan Belia) administered by Bank Simpanan Nasional starting from 1st January 2020 to 31st December 2021 to assist youths to own their first homes.

The scheme offers RM 200 monthly instalment assistance to youth couples aged 25 to 40 years old for the first two years limited to 10,000 home units.

In other words, if you’re eligible, you can get RM 4800 under this scheme.

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RM 200 x 24 months = RM 4800

Benefits

1. Housing loan from RM 100,000 to RM 500,000

2. Margin of financing: Up to 100% of the purchase price / market price (whichever is lower)

3. RM 200 monthly instalment assistance for two years (total RM 4800)

4. 50% of stamp duty exemption

Are You Eligible?

1. Malaysian citizen

2. Youth couples aged 25 to 40 years old

3. Household income less than RM 10,000

4. First property

5. BSN GIRO / GIRO-i account holder

Documents You Need

1. BSN housing loan application form

2. Sales and purchase agreement

3. A valid marriage certificate

4. IC copy

If you’re an employee, 

1.  Latest 3 months payslips

2. Latest 3 months bank statement

3. EPF Statement

4. Latest 6 months payslip and bank statement (other income)

If you’re self-employed,

1. Company’s registration (SSM)

2. B/BE Form and LHDN Receipt

3. Company’s Financial Statement

4. Latest 6 months company bank statement

5. Other documents i.e site visit report etc.

Co-applicant

1. IC copy

2. Latest 3 months payslips

For more information, you may inquire at BSN counters.

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