Skim Jaminan Kredit Perumahan (SJKP): How Malaysians Can Buy a Home Without a Payslip

Buying a home in Malaysia often starts with one big challenge: getting a housing loan approved. For many Malaysians who do not receive a fixed monthly pay slip, this step can feel almost impossible. Skim Jaminan Kredit Perumahan (SJKP) was introduced to bridge that gap by helping first-time home buyers access financing even without traditional income documents.

What Is Skim Jaminan Kredit Perumahan (SJKP)?

Skim Jaminan Kredit Perumahan (SJKP) is a Malaysian government housing financing scheme designed to help eligible individuals purchase their first home. The scheme focuses on Malaysians who have the ability to repay monthly instalments but face difficulties qualifying for housing loans due to the absence of a fixed payslip.

Under SJKP, the government provides a financing guarantee to participating banks. This guarantee allows banks to approve home financing for applicants with non-fixed or irregular income, as long as repayment capacity and other eligibility requirements are met.

SJKP financing is provided in collaboration with licensed financial institutions and applies strictly to residential properties intended for owner-occupation.

Why SJKP Was Introduced

A large segment of the Malaysian workforce earns income outside the traditional salaried structure. While many of them can afford monthly housing instalments, they are often excluded from standard housing loans because their income does not come with payslips or fixed employment contracts.

SJKP was introduced to address this structural gap by:

Recognising alternative income sources
Allowing flexible income assessment
Supporting home ownership among non-traditional workers

Through this approach, the scheme helps broaden access to home financing without lowering repayment discipline or financial responsibility.

Who Can Benefit From SJKP

SJKP is designed for Malaysians who earn income in non-conventional ways. This includes individuals whose income may be stable but not documented through monthly payslips.

Groups that commonly benefit from SJKP include:

Gig workers and platform workers
Freelancers and independent contractors
Small business owners
Hawkers and traders
Farmers and fishermen
Contract or commission-based workers

Salaried employees may also apply if they meet the eligibility requirements, particularly first-time home buyer status.

Types of SJKP Schemes

SJKP is offered through more than one scheme to cater to different financing needs. Each scheme comes with its own financing limit and coverage, while maintaining the same objective of supporting first-time home buyers.

Skim Jaminan Kredit Perumahan (SJKP)

This is the standard SJKP scheme available to first-time home buyers. Key features include:

Financing of up to RM500,000
Financing of up to 100% or more (subject to bank assessment)
Maximum repayment tenure of up to 35 years
Applicable only for residential properties

The scheme focuses on enabling home purchase without requiring a down payment, subject to bank approval.

Skim Jaminan Kredit Perumahan - MADANI

SJKP-MADANI is a targeted enhancement under the MADANI framework. Under this scheme:

Financing is available up to RM360,000
Financing may cover additional costs such as:
- MRTA or MRTT
- Legal fees
- Valuation fees
- Renovation or basic furniture (within approved limits)
Government financing guarantee may reach up to 120%

This option is intended to reduce upfront financial barriers for eligible buyers.

Key Benefits of SJKP

SJKP offers several advantages that make home ownership more accessible:

No payslip required
No deposit required in most cases
Flexible income assessment
Government-backed financing guarantee
Available through multiple participating banks
Designed specifically for first-time home buyers

These benefits help shift the focus from fixed documentation to actual repayment capability.

Eligibility Criteria

To apply for SJKP, applicants must meet the following general requirements:

Malaysian citizen
Aged 18 years and above
First-time home buyer
Fixed or non-fixed income accepted
Debt Service Ratio (DSR) generally not exceeding 65%
Acceptable CCRIS credit record
Property must be purchased for own stay, not investment

Final eligibility is subject to assessment by the participating bank.

Types of Properties Allowed

SJKP financing is limited to residential properties, including:

New residential houses
Completed residential units
Subsale properties
Auction properties
Low- and medium-cost homes

The scheme does not apply to refinancing or commercial properties.

How to Check SJKP Eligibility

Before applying, individuals are encouraged to conduct a simple self-assessment:

Are you a Malaysian citizen?
Is this your first home purchase?
Can you afford the estimated monthly instalment?

Eligibility can also be checked through official SJKP channels or during consultation with participating banks.

Documents Required

Although SJKP does not require a payslip, applicants still need to prepare supporting documents to demonstrate income consistency and property details during the financing assessment process.

Property Documents

Booking receipt
Draft Sale and Purchase Agreement

Income Documents

Six months of bank statements
EPF statement (if available)
Income tax records (if available)

Supporting Documents

Copy of MyKad
Employer confirmation letter (if applicable)
Business licence or permit (if applicable)
Income declaration letter certified by authorised officers

Banks may request additional documents depending on individual circumstances.

Repayment Period

SJKP financing offers:

Repayment tenure of up to 35 years
Or until the borrower reaches 65 years of age

Approval remains subject to bank assessment and risk evaluation.

How to Apply for SJKP 2026

Applications are made through participating financial institutions, not directly to SJKP. The general process includes:

Choose a suitable residential property
Prepare required documents
Obtain income confirmation if needed
Apply through a participating bank
Bank submits the application under the SJKP framework

Approval timelines and conditions may vary between banks.

List of Participating Banks

SJKP is available through selected financial institutions, including:

Maybank / Maybank Islamic
Bank Islam
Bank Rakyat
BSN
RHB Islamic
MBSB Bank
Agrobank
Hong Leong Bank / Islamic
Alliance Bank / Islamic
AmBank Islamic

Applicants are encouraged to compare offers and terms across banks.

Important Reminders

Before applying for SJKP, it helps to be clear about how the scheme works so you can avoid unnecessary costs, delays, or scams.

SJKP Does Not Appoint Agents or Representatives

If someone claims they can “help you secure approval” on behalf of SJKP, treat it as a red flag.

SJKP Does Not Charge Any Processing Fees to Borrowers

You should not be asked to pay a “registration fee” or “SJKP processing fee” directly to SJKP.

Applications Must Be Made Through Participating Banks Only

You do not apply directly to SJKP. The participating financial institution will process and submit it under the SJKP framework.

Approval is Still Based on a Bank Assessment

SJKP provides a guarantee mechanism, but the bank still evaluates repayment ability, credit record, and documentation.

Use Official Channels for Verification

If you are unsure about eligibility, documents, or procedures, check via official SJKP references or speak directly with a participating bank branch.

Stay Alert for Scams

Avoid sharing personal details or making payments to individuals who promise guaranteed approval, faster processing, or “special access” to SJKP.

Official Reference & Contact

For the latest and official information:

SJKP official website
Official hotline and email channels
- Tel: 03-2096 5000
- Fax: 03-2096 5090
- Emaill: enquiry@sjkp.com.my
Physical office addresses listed by the programme: Tingkat 12, Bangunan Setia 1, 15 Lorong Dungun,Bukit Damansara, 50490 Kuala Lumpur.

FAQs

What is Skim Jaminan Kredit Perumahan (SJKP)?

It is a government-backed housing financing scheme for first-time home buyers, especially those without fixed pay slips.

Can I buy a house without a payslip under SJKP?

Yes. SJKP allows flexible income assessment without requiring a monthly payslip.

Who is eligible to apply for SJKP in Malaysia?

Malaysian citizens who are first-time home buyers and meet repayment capacity requirements.

Is SJKP only for self-employed or gig workers?

No. Salaried employees may also apply if they meet the eligibility criteria.

What is the maximum house price allowed under SJKP?

Up to RM500,000 under SJKP, and up to RM360,000 under SJKP-MADANI.

Do I need to pay a deposit under SJKP?

In most cases, no deposit is required, subject to bank approval.

Is SJKP only for first-time home buyers?

Yes. The scheme is strictly for first-time residential property purchases.

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