Upon signing up for the Skim Saraan Bercagar Loan, here are some expenses that will be incurred by the borrower.
Initial upfront expenses:

1. One-Time Recourse Waiver Fee*/One-Time Facility Fee
2. Legal fees
3. Valuation fees
4. Property insurance
5. Administration fees (if any)
6. Servicer fees (if any)

The initial expenses above can be financed by the Skim Saraan Bercagar Loan.

Yes, fire and home insurance for the property is compulsory to be undertaken by the home owner. This is similar to the requirement for normal mortgage loans by banks.

Our current Skim Saraan Bercagar Loan does not allow for any changes in the monthly payout amount. The monthly payout amount is fixed from the start of the loan tenure throughout the lifetime of the borrower(s).

Yes, we allow for leasehold properties with at least 90 years of lease remaining.

Otherwise, borrower may need to renew the lease to be eligible.

For Conventional
The interest rate is fixed rate per annum, and it may vary from time to time. Kindly refer to our latest update on the homepage.

For Islamic
The Ceiling Profit Rate is the maximum profit rate that to be charged throughout the tenure and the Effective Profit Rate is the actual profit rate to be charged to the customer which varied on monthly basis

A fixed amount which will be disbursed to the borrower/customer every month. Refer to our reverse mortgage calculator to find an estimated amount based on your age and property value.

As a borrower/customer, you will have to absorb certain initial expenses such as one-time recourse waiver fee/facility fee, property valuation, legal fees and/or fire insurance/takaful coverage of the charged property. These expenses can be financed in the Skim Saraan Bercagar product.

A one-time lumpsum payout together with monthly cash disbursements is available and the maximum amount would be assessed upon application.

Withdrawal of the lump sum is limited to only the following usage:
(1) payment for medical expenses,
(2) settle any outstanding mortgage loan / financing on the property to be charged under the SSB product and
(3) refurbishment and maintenance expenses to upkeep the property.