The Skim Rumah Pertamaku (SRP) โ Malaysia's My First Home Scheme โ allows eligible first-time buyers to borrow 100% of the property price with zero down payment. Here is everything you need to know about eligibility, participating banks and how to apply in 2026.
What Is the My First Home Scheme?
The SRP (Skim Rumah Pertamaku) is a government-guaranteed scheme allowing Malaysians to purchase their first home without a down payment. The government guarantees the top 10% of the loan, so banks are willing to lend 100% of the property value. This removes the biggest barrier to home ownership โ the 10% deposit.
Eligibility Criteria
| Requirement | Detail |
|---|---|
| Age | 18โ35 years old |
| Citizenship | Malaysian citizen |
| Gross Income | โค RM5,000/month (individual) or RM10,000 (joint) |
| First-time buyer | Must not own any property previously |
| Property Price | RM100,000 โ RM500,000 |
| Property Type | Completed residential property only |
Participating Banks
The SRP is offered through Public Bank, Maybank, CIMB, RHB, AmBank, BSN and several others. Each bank sets its own interest rate โ typically between 4.30% and 4.50%. Always compare at least 3 banks using our ๐ Mortgage Calculator before committing.
Pros & Cons
- โ Zero down payment โ no need to save RM45,000+ for a deposit
- โ Standard interest rates โ same as conventional loans
- โ ๏ธ Higher monthly payment โ borrowing 100% means larger instalment than 90%
- โ ๏ธ Negative equity risk โ if property value drops, you owe more than it is worth
- โ ๏ธ Income cap โ not available for higher earners
How to Apply
Apply directly through any participating bank. Bring your IC, 3 months' payslips, 6 months' bank statements and employer confirmation letter. The bank will check CCRIS and CTOS before approving. Typical approval time: 14โ21 working days.
Our editorial team specialises in Malaysian personal finance โ covering loans, taxation, insurance, EPF, and Islamic finance. Every article is fact-checked against Bank Negara Malaysia (BNM), LHDN, and major Malaysian bank publications. We reference our calculators (which use industry-standard formulas) to ensure consistency between our written content and tools. Learn more about our methodology โ