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 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
Yes, you may apply but subject to Government’s/Employer’s/Council’s approval.
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.
6) If I apply for an additional financing facility can the progressive payment be paid direct to me?
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 Ketua Kampung or District Officer, then it is acceptable to us as security for the loan (applicable to State Government Officers only).
Under the Government Housing Loan Scheme, both must be in the State Government service to be eligible to apply.
* The Company reserves the right to vary the above information, terms & conditions from time to time without assigning any reason whatsoever.