Bank Muamalat Malaysia Berhad (Bank Muamalat) proudly announces its position as the first bank in Malaysia to offer a Step-Up Profit Rate (SUPER) package under the Skim Jaminan Kredit Perumahan (SJKP), a government-backed initiative aimed at expanding affordable homeownership among underserved communities.

Through the SMART Mortgage SJKP SUPER, Bank Muamalat is taking a proactive role in supporting the government’s national housing agenda by providing a more inclusive and flexible home financing solution tailored for first-time homebuyers, especially those with informal income or limited credit history. The package, introduced in 2022, further strengthens the Bank’s involvement in SJKP since 2019.

Lower Payment For The First Five Years 

“This innovative offering is designed to ease the financial burden of homeownership, particularly in the earliest of payment. Through the Step-Up Profit Rate, customers benefit from lower monthly instalments for the first five years, giving them breathing room to manage other financial obligations or build their savings,” said Khairul Kamarudin, President and Chief Executive Officer of Bank Muamalat. 

Supported By Government Guarantee And 2025 Commitments

Datuk Fazlur Rahman Zainuddin, Principal Officer of Syarikat Jaminan Kredit Perumahan Berhad said, “Skim Jaminan Kredit Perumahan (SJKP) is a Housing Credit Guarantee Scheme by the government aimed to assist the Rakyat, particularly the unserved and underserved to obtain financing from 16 participating financial institutions to purchase their first homes. SJKP was first introduced in 2008 and managed by Syarikat Jaminan Kredit Perumahan Berhad, a Minister of Finance Incorporated (MOF Inc) company. Our target groups are those without fixed income, or low income such as gig-workers, farmers, fishermen, night-market/petty traders etc.” Datuk Fazlur Rahman Zainuddin, Principal Officer of Syarikat Jaminan Kredit Perumahan.

“For 2025, the government has allocated RM10 billion worth of guarantee to enable the financial institutions extend financing to the target groups, including RM5 billion allocation for the Step-up Financing. As of 31 May 2025, we have managed to assist 88,507 recipients of the scheme purchased their first homes,” he added.

Eligible customers will also enjoy improved cash flow management during the construction period, with profit-servicing-only payments. This approach not only lightens financial commitments but also enables customers to build stronger credit profiles as they advance in their careers.

Higher Financing Up To 120%

The SMART Mortgage SJKP Step-Up Profit Rate offers financing of up to RM500,000, inclusive of Mortgage Reducing Term Takaful (MRTT) or Mortgage Level Term Takaful (MLTT), legal and valuation fees. It is specifically designed for first-time homebuyers, particularly from the underserved or informal income segment, in line with the government’s aspiration to promote inclusive financial access.

To further support the rakyat, Bank Muamalat also offers the SJKP Madani SUPER variant, which provides up to 120% financing. This includes additional financing for renovation, home furnishings, and fittings offering a holistic and practical solution to help customers own and settle into their homes comfortably.

In collaboration with reputable property developers across the country, Bank Muamalat is actively promoting affordable housing projects under the SJKP scheme, expanding opportunities for eligible Malaysians to secure their first homes.

This initiative supports the national housing agenda under Malaysia Madani and reaffirms Bank Muamalat’s role as a proactive enabler of social mobility through value-based, Shariah-compliant financial solutions.

For further information, please visit www.muamalat.com.my or contact the Customer Service Centre at 03-2600 5500.

• TAGS:
• Bank Muamalat
• Fazlur Rahman Zainuddin
• Homeownership
• Khairul Kamarudin
• SJKP
• Skim Jaminan Kredit Perumahan
• Step-Up Profit Rate (SUPER) package