What the home loan calculator does
This calculator works out the monthly instalment for a home loan at a given rate and tenure, how much interest you pay over the whole loan, and the cash you need before the bank releases the loan: your down payment, stamp duty and legal fees.
It assumes a standard monthly-rest loan at one rate for the whole tenure. Most Malaysian home loans are floating, so the instalment moves when the bank changes its base rate.
What you should know
- Longest tenure
- Up to 35 years, or until you turn 70, whichever comes first, at most banks
- Loan size
- Each bank sets its own limit for your first and second home, often up to 90% of the price. Bank Negara caps a third or later home loan at 70%
- Down payment
- Usually 10% of the price; the booking fee you paid counts towards it
- Stamp duty on the transfer
- 1% of the first RM100k, 2% up to RM500k, 3% up to RM1m, 4% above RM1m
- Stamp duty on the loan
- 0.5% of the loan amount
- First home up to RM500k
- Malaysian citizens buying a first home pay no stamp duty on the transfer or the loan, for SPAs signed up to 31 Dec 2027. Budget 2027 proposes extending this to 2030, with half the duty waived on the part from RM500k to RM750k
- Lawyer's fees
- 1.25% of the first RM500k and 1% after that, for each of the SPA and the loan agreement, plus 8% SST. Buying from a developer, the fee is cut to between 75% and 50% of that, depending on the amount
Good to know
- Developers of new launches sometimes pay the SPA and loan legal fees, or the stamp duty, as part of the offer. Ask before you work out your cash.
- For a project under construction, the bank releases the loan in stages as building work progresses, so you pay interest only on what has been released until it is complete.
Figures reflect the rules as we understand them and can change. Check with your bank, lawyer or LHDN before you rely on them.