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SARAWAK FACILITIES (Islamic)

Subsidised Tawarruq Home Financing-i  by State Government of Sarawak, Statutory Bodies and Councils

For officers serving in the State Government of Sarawak, Statutory Bodies and Councils under the Employer’s Guarantee Scheme.

Guidelines, terms & conditions under the Government Officers’ Islamic Financing Housing Loan Scheme 2018 – State Financial Secretary’s Office Circular No. 03/2018 dated 7th July 2018

Maximum Financing

100% of cost of property or our Company’s valuation of the property whichever lower.

Entitlement

Loan entitlement ranges from RM140,000.00 to RM320,000.00 depending on the officer’s salary scales.

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Application Form – Statutory Body (PDF)

Maximum Payment Period

30 years subject to age plus repayment tenure not exceeding 70 years (if pensionable) or 55/58/60 years (if contributing to the Employee’s Provident Fund).

Subsidised Profit Rate

At 3% per annum on monthly rest.

Frequently Asked Questions

Our maximum financing facility period is 30 years subject to age plus repayment period not exceeding 70 years (if pensionable) or 60 years (if contributing to the Employee’s Provident Fund).

Yes, you may but subject to Government’s/Employer’s/Council’s approval. The amount to be transferred is the outstanding balance of loan with the Bank at the point of application.

Yes, you do. You have to provide us with the Construction Agreement entered between you and the Contractor.

No, we do not allow payment in advance. Release of financing payment upon completion of documentation can only be made progressively based on our Company’s Progress Report on construction works achieved.

No, all progressive payments are to be channelled through the Solicitors handling the loan documentation.

No, we do not allow the legal fees to be deducted from the approved financing facility. The legal fees and other disbursements have to be paid by you.

As long as the land has a Certificate of Ownership issued by the Tua Kampong or District Officer, then it is acceptable to us as security for the loan (applicable to State Government Officers only).

* The Company reserves the right to vary the above information, terms & conditions from time to time without assigning any reason whatsoever.

Any Inquiry? Let's Talk.

We welcome any and all suggestions, so leave us a comment and we will get back to you.

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