MyDeposit 2018 Housing Scheme Malaysia – Are You Eligible?

mydeposit-eligibility

What is MyDeposit scheme?

The MyDeposit scheme was announced in Budget 2016. The MyDeposit scheme helps the lower-and middle-income groups (with a household income of RM10,000 and below) to purchase their first home. This is a good opportunity for those who struggle to save up enough money for the down payment (typically 10% of the property price). RM200 million has been allocated for the MyDeposit scheme. This scheme will help first-time home buyers cover the 10% of down payment (below RM30,000). The scheme is only limited to residential properties below RM500,000.

mydeposit scheme eligibility

Who is eligible for the MyDeposit scheme?

  • A Malaysian citizen
  • 21 years old and above (No maximum age)
  • First-time home buyer within one household family
  • Earning a gross household income of below RM10,000 a month (This includes all income be it from employment, business, wage, commission, bonus and other allowances.)
  • Purchasing a property priced at RM500,000 or less
  • Eligible for a bank loan from any bank in Malaysia (credit worthy, not blacklisted, or bankrupt)

The supporting documents you need for the application are:

  • A copy of your identity card
  • A copy of your spouse’s identity card
  • A copy of your child(ren) or dependent(s) identity card or birth certificate
  • A copy of your marriage certificate/divorce certificate/death certificate
  • Your latest salary slip
  • Your spouse’s latest salary slip
  • Your Employees Provident Fund (EPF) statement or income tax statement
  • Your spouse’s Employees Provident Fund (EPF) statement or income tax statement
  • Statutory declaration of your and your spouse’s total business income that is verified by the Commissioner of Oaths
  • Employment confirmation letter from your employer stating your employment/service status, marital status, monthly salary and duration of service.
  • Employment confirmation letter from your spouse’s employer stating your employment/service status, marital status, monthly salary and duration of service.
  • Disability confirmation letter for you, spouse or dependent (if relevant).

MyDeposit scheme Application Date

  • 15 December 2017 (10.00 am) – 15 February 2018

For more information

  1. MyDeposit Tel.
    03-8891 4025/ 4026/ 4051/ 4057
  2. Email
    Enquiries: mydeposit@kpkt.gov.my
    Application: ict_jpn@kpkt.gov.my
  3. Website  https://sprn.kpkt.gov.my/info/mydeposit
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