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Maybank to provide RM10bil home loans

KUALA LUMPUR: Malayan Banking Bhd (Maybank) expects to provide some RM10bil in loans under its new MaxiHome Ezy scheme this year.

Maybank Islamic Bhd chief executive officer Datuk Mohamed Rafique Merican said the new mortgage scheme was designed for first-time house buyers as it allowed greater flexibility and affordability with lower monthly repayments for the first five years.

“The scheme, which is available under both conventional and Islamic banking, allows customers to service only the interest/profit portion of their mortgage for the first five years, with full instalments commencing from the sixth year onwards,” he said.

He told reporters this after the launch of the scheme by Urban Wellbeing, Housing and Local Government Ministry deputy secretary-general for policy Dr Mary Wong Lai Lin, who represented the minister, Tan Sri Noh Omar, at the Malaysia Property Expo (Mapex) here.