KUALA LUMPUR – Bank Simpanan Nasional (BSN) is targeting loan disbursement of RM6 billion for its Youth Housing Scheme by July next year.
Launched in July 2015, the scheme aims at helping young married couples between the age of 25 and 40 with a household income of not exceeding RM10,000 per month to own a house.
BSN Deputy Chief Executive Frederick Siew Kin Meng said the scheme managed to secure 4,000 loan submissions valued at almost RM1 billion until October this year with the approval rate of 50 per cent.
“We have approved 200 cases amounting RM500 million. To date, we have disbursed RM200 million as the projects have different stages of completion,” he told reporters after an announcement on its collaboration with property developer Oriental Interest Bhd, here today.
Siew said BSN was also looking at collaborating with more reputable property developers to promote its Youth Housing Scheme for young married couple to own a house. – BERNAMA