OCBC Bank- OCBC My First Home Scheme (conventional)

Up to 35 years

Term loan

Floating Interest Rate

3 years lock in period

Up to 100% margin

Borrowing RM Monthly Repayment

Profit Rate

How Long Year
max 35 Year
Flexi/Term Lock in Period Islamic or Conventional
All Flexi Term All Yes No All Islamic Conventional

OCBC My First Home Scheme

Borrow up to RM500,000 for your first home! No need to pay for a downpayment, with loan period of up to 35 years. Open to all Malaysians below 40.

    • Up to 35 years
    • Term loan
    • Floating Interest Rate
    • 3 years lock in period
    • Up to 100% margin of finance

You Borrow

Estimated Interest Rate

RM100000 - 300000

4.97% p.a.

RM301000 - 500000

4.60% p.a.

  • *Effective interest rate will be determined by OCBC upon approval.


Fees & Charges

There are always fees but how much are they?

Late Penalty Fee - 1% p.a. of the outstanding amount

Processing Fee - No Fee

Early Settlement Fee - Subject to terms of agreement with bank

Redemption Letter Fee - RM53.00 per request

Letter for EPF Withdrawal Fee - RM21.20 per request

Insurance Types - MRTA

  • MRTT

*inclusive of 6% GST



Are you eligible for this OCBC home loan?

Minimum annual income - RM10800

Minimum age - 21 years old

Maximum age - 40 years old

Who can Apply - Malaysians


Frequently Asked Questions about OCBC My First Home Scheme

Things you might want to know


What is OCBC My First Home Scheme all about?

Due to rising property prices, especially in capital cities such as KL, many young adults find it difficult to own a house and still get by comfortably - this is why the Malaysian government has came up with the My First Home Scheme or Skim RumahPertamaku (SRP) in 2011.

With OCBC Skim RumahPertamaku, you can borrow up to 100% of your home's market price, with no need for downpayment or high income requirements. You can also apply for an Islamic SRP plan that is Syariah compliant.


Am I eligible to apply for the OCBC SRP?

You'll be eligible as long as you're a Malaysian aged 40 and below, a first-time home buyer, and earn no more tha RM5,000 a month. If you want like to own your home with your partner, the combined gross monthly income should not exceed RM10,000 with each person's income not exceeding RM5,000.

For you to be granted your housing loan, you must occupy and stay in the property - that means no renting out to other people for profit.


How much can I borrow from OCBC?

This loan is applicable for a residential property valued between RM100,000 and RM500,000, applicable for houses that are completed or still under construction. As a rule of thumb, your monthly instalments must not be more than 60% of your net monthly income or maximum borrowing limit, whichever is lower.


Low long can I take to repay my OCBC loan?

Your loan period cannot be more 35 years, subject to you not exceeding 65 years of ageat the end of financing tenure for the OCBC My First Home Scheme loan.