Bank Negara Malaysia has launched an RM1 billion fund aimed at helping low-income Malaysians obtain loans to purchase their first home.<br /><br />Under the “Fund for Affordable Homes” scheme, Malaysians with a household monthly income of RM2,300 and below are eligible for loans with a financing rate capped at 3.5 percent per annum for residential properties priced RM150,000 and below.<br /><br />Speaking at the launch today, Finance Minister Lim Guan Eng said the fund, which was included in his Budget 2019 speech last November, is expected to last two years.
