{"id":15263,"date":"2020-02-21T17:34:36","date_gmt":"2020-02-21T09:34:36","guid":{"rendered":"https:\/\/www.iqiglobal.com\/blog\/?p=15263"},"modified":"2026-01-09T16:17:36","modified_gmt":"2026-01-09T08:17:36","slug":"why-should-you-know-about-bsn-myhome-youth-housing-scheme","status":"publish","type":"post","link":"https:\/\/iqiglobal.com\/blog\/why-should-you-know-about-bsn-myhome-youth-housing-scheme\/","title":{"rendered":"Why should you know about BSN MyHome (Youth Housing Scheme)"},"content":{"rendered":"\n

What is the BSN MyHome (Youth Housing Scheme)?<\/span><\/h1>\n
BSN MyHome or Bank Simpanan Nasional MyHome<\/strong> is a first-time homeownership scheme, designed to help single or married youths own their very first home with ease by offering to finance the purchase of either completed, under construction or sub-sale property.<\/p>\n
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Features<\/h2>\n
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Participants must have a household income not exceeding RM10,000 per month.<\/li>\n
A 100% of stamp duty exemption for the first RM300,000 on purchase of first property, for property price up to RM500,000.<\/li>\n
Participants will also receive assistance from<\/li>\n
the government in the form of monthly instalments of RM200 per month that will be credited to their financing account for 2 years.<\/li>\n<\/ul>\n
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Property Price<\/h2>\n
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Minimum – RM 100,000.<\/li>\n
Maximum – RM500, 000.<\/li>\n<\/ul>\n
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Margin of Financing <\/h2>\n
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Up to 100% of the property purchase price\/market price.<\/li>\n
MRTA – Up to a maximum of 5% of the purchase price\/market price. <\/li>\n<\/ul>\n
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Have you found your dream home? <\/span>Have a read on what cost you should be aware of before it can be a reality.<\/span><\/span><\/h4>\n
>>7 necessary costs when buying your dream home<<<\/span><\/a><\/span><\/h4>\n
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Loan Period <\/h2>\n
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A minimum of 5 years.<\/li>\n
A maximum of 35 years.<\/li>\n<\/ul>\n
Note: For self-employment, the maximum age is 70 years.<\/p>\n
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Interest Rate<\/h2>\n
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Pricing range between BR +0.60% up to BR+1.00% subject to participants’ profile and property location.<\/li>\n
For a loan amount of RM350,000 and above with 30 years of loan tenure, the indicative interest rate is BR + 0.08%.<\/li>\n<\/ul>\n
Subject to terms and condition.<\/p>\n
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Criteria<\/h2>\n
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Must be a Malaysian citizen, aged 21 years to 45 years old.<\/li>\n
Single or married with a household income not more than RM10,000 per month.<\/li>\n
First-time house purchaser.<\/li>\n
Individual \/ joint loan.<\/li>\n
BSN GIRO \/ GIRO-i account holder.<\/li>\n
Proof of property purchase.<\/li>\n<\/ul>\n
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$\"\"$ <\/p>\n
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For more information on the BSN MyHome (Youth Housing Scheme), please do click here. <\/strong><\/span><\/p>\n
Or have a chat with us, where our dedicated team will help you find the perfect dream home and make it a reality – <\/span><\/strong>be it a house, apartment or condominium for yourself or with your partner.<\/span><\/strong><\/p>\n
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