The applications for the First House Deposit Financing Scheme or MyDeposit for next year will be opened from tomorrow (Dec 15) until Feb 15, 2018.

Deputy Urban Wellbeing, Housing and Local Government Minister Datuk Halimah Mohamed Sadique said the public could register online at https://sprn.kpkt.gov.my.

“At the tabling of the 2018 Budget, Prime Minister Datuk Seri Najib Abdul Razak agreed to continue the MyDeposit scheme with an allocation of RM25 million,” she said when replying to a question from Senator Datuk Abidullah Salleh on the amount of aid channelled through the MyDeposit scheme and the number of recipients to date, at the Dewan Negara sitting today.

Since it was opened from April 7, 2016 until last October, 1,469 applications were approved with a payment amounting to more than RM39 million.

The MyDeposit scheme is aimed at helping the middle income group to buy their first home under private housing projects which did not get any subsidy.

Source: Bernama

What is MyDeposit Scheme?

First Home Deposit Scheme (MyDeposit) is a special product that was introduced by the Government to help the middle income group to own their dream home. The government has announced the allocation of RM200 million as a contribution to the deposit for the purchase of a first home per household.

In line with the National Housing Policy’s objectives to increase the people’s ability to buy their own house, MyDeposit Scheme was launched by the Government through the Ministry of Housing and Local Government.

If you are buying a new house below RM500,000 and your gross income is not more than RM10,000, then you are eligible to apply for MyDeposit Scheme. Successful recipients will receive a 10 per cent down payment of the house price or a maximum of RM30,000 for properties below RM500,000.

FIND OUT MORE ABOUT MYDEPOSIT SCHEME