Great News! Zero Interest Housing Loan For Low Income Below RM3500 Group

Great news for low income group!!! Here help to own house with zero interest rate housing loan. Perhaps this is the best opportunity for you to own a house if you are ready for the commitment.

CIMB, Maybank offer zero interest housing loans for low income staff

According to CIMB Group group CEO Tengku Datuk Seri Zafrul, the new measures demonstrate the bank’s commitment to ensure that deserving staff are adequately supported, to help them succeed in both their career and personal lives. Meanwhile, Maybank will be offering 0% interest for the first RM100,000 on staff housing loans for selected categories.

PETALING JAYA: The country’s two leading banks have come up with O% interest on housing loan schemes for their low income staff.

CIMB Group Holdings Bhd started the ball rolling on the fresh incentives launched in conjunction with Labour Day celebration last week, followed by Malayan Banking Bhd (Maybank) last Friday.

CIMB Group has set aside RM1bil for its programme to assist lower income staff in their housing loans.
A CIMB official said about 4,000 staff were expected to benefit from the scheme.

Under the scheme, employees who earn not more than RM3,500, will enjoy 0% interest in their housing loans for a maximum of five years or three years for completed properties, on loans not exceeding RM250,000.

Eligible staff are only required to start paying the loan instalment in the sixth year or fourth year for completed properties, which provides them with a roof over their heads while relieving them of the financial burden of servicing a housing loan during those periods.

Apart from that, single parents will receive financial assistance of RM200 monthly for each school-going child aged 18 years and below, subject to a maximum of five children.

In addition, staff earning not more than RM2,000 will also receive monthly assistance of RM50 for their water bill, and RM100 through Touch ‘n Go credit to partly fund their transportation cost.

According to CIMB Group group CEO Tengku Datuk Seri Zafrul, the new measures demonstrate the bank’s commitment to ensure that deserving staff are adequately supported, to help them succeed in both their career and personal lives.

“Our staff is the group’s most valuable asset, who have contributed so much to the group’s success and performance.

“This is also in line with CIMB’s new brand promise, ‘Forward’, which for our staff is about enabling them to progress and realise their dreams,” he said.

Meanwhile, Maybank will be offering 0% interest for the first RM100,000 on staff housing loans for selected categories.

The special interest rate housing loans, effective 1 July 2017, will be applicable for new and existing loans of Maybank Group employees in Malaysia who have a basic salary of up to RM3,000 per month.

Maybank Group chief human capital officer Nora Abd Manaf said in a statement that the new scheme was part of the group’s ongoing review of staff benefits to ensure they are adapted to the needs of employees as well as in line with emerging trends in market and industry.

“We believe the new housing loan rate will provide those eligible with significant relief and mitigate the concerns that they have with regards to their accessibility to affordable housing, especially in the more urban areas.”

Nora added that employees will continue to enjoy subsidised interest rates for home financing for amounts in excess of RM100,000 which currently stand at 3% for non-clerical and 3.5% for all other grades.

​Over the years the group has been spearheading many pioneering human capital initiatives to ensure that it offers employee benefits that among the best in class.