How It Works

Skim Saraan Bercagar (SSB) is a Skim Saraan Bercagar Loan. It allows retired home owners to convert a residential property asset into a fixed source of monthly income throughout their retirement years. Home ownership is retained, allowing them to stay in their home throughout the tenure of the loan.

Loan Repayment

when

When

Upon the demise of the borrower or joint borrower, whichever occurs later.

During Home Owner’s Lifetime

During Home Owner’s Lifetime

No repayment is required during the borrower’s or joint borrowers’ lifetime unless the loan is terminated under specific circumstances.

What Happens

What Happens

The property will be sold to settle any outstanding loan amount. Any balance from the sale proceeds of the property will be passed on to the borrower’s estate.

Eligibility

Criteria for Borrower

Criteria for Borrower

  • Malaysian
  • 55 years old and above
  • Owner or joint owners of a residential property
  • For a joint loan, the joint borrower can be a partner, parent, sibling or child, subject to age limit
Criteria for Property

Criteria for Property

  • Residential property in Malaysia held in Borrower’s or joint borrowers’ name(s).
  • For a joint Skim Saraan Bercagar Loan, joint ownership of property is required.
  • Property must be owner-occupied and be the primary place of residence.
  • Free from encumbrances such as mortgage and other financial liabilities.

Secure your future with Skim Saraan Bercagar (SSB) Reverse Mortgage now.

Secure your future with Skim Saraan Bercagar (SSB) Reverse Mortgage now.
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