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KUALA LUMPUR (Bernama): Bank Negara will be setting up an RM2,300.
Finance Minister Lim Guan Eng said the fund would be provided by Jan 1 2019 to purchase affordable houses priced at up to RM150,000.
"The fund will be available at Ambank, CIMB Bank, Maybank, RHB Bank, and Bank Simpanan Nasional (BSN) at a low financing rate of 3.5 percent.
"He said," he said when tabling Budget 2019 at the Dewan Rakyat on Friday.
Speaking at the tabling of the budget themed "Credible Malaysia, Dynamic Economy, Prosperous Rakyat", Lim said the fund would be provided for two years or until it runs out.
Meanwhile, Lim said for the first time buyers of RM500,000, the government will grant the price of RM300,000 for the year 2020.
For example, it is possible to allocate RM25 to the RMG.
"The move is expected to save from the developer," he said.
Meanwhile, the Public Sector Home Financing Board (LPPSA).
The term would be extended from 30 years to 35 years and the second financing period would be extended from 25 years to 30 years.
He added that RM400mil would be allocated for the maintenance of the police, especially the police, armed forces and teachers, to live more comfortably. – Bernama
For full coverage of Budget 2019, go to http://bit.ly/budget2019TheStar.
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