• What is HouzKEY?
  • Product Structure
  • How Do I Apply?
  • Aplication Requirement
  • Nominee & Takaful/Insurannce
  • Missed Payment
  • Settlement Option
  • Expire of The Initial Tenure
What is HouzKEY?
What is HouzKEY?

HouzKEY is a homeownership financing solution offered by Maybank Islamic to assist first and second home Malaysian buyers in owning their dream home. This financing solution is available for properties offered by our partnering developers which include new launches, under-construction and completed properties.

Why choose HouzKEY?

Under HouzKEY, homebuyers get to enjoy 100% financing (no downpayment is required), no payment during construction period and lowest monthly payment.

Why choose HouzKEY
Product Structure
What is the tenure under HouzKEY?

Homebuyers under HouzKEY starts off with a 5 year tenure (“Initial Tenure”) and subsequently have the flexibility to continue for up to an additional 30 years. Thus the maximum tenure that can be offered is 35 years (or up to 70 years old, whichever earlier).

Is there any downpayment required?

HouzKEY provides 100% financing and no downpayment is required. To start your homeownership journey, only pay three months of deposit upon signing the agreement with HouzKEY.

Is the three months deposit refundable?


What other costs do i have to pay?

This will vary from project to project as the packages offered by Developers are different for each project. If the legal costs of the preparation of agreements and stamping costs are not absorbed by the Developer, the cost will be due from the Customer. You may enquire with our representatives or with Developer sales team for your specific project in mind.

What is my Financing Rate?

During the Initial Tenure, the Financing Rate is termed as the Campaign Rate. Subsequent to the Initial Tenure, the Financing Rate is termed as the Profit Rate. Both the Campaign Rate and Profit Rate (collectively defined as ‘Financing Rate’) will be disclosed to you at the point of your application approval. The Financing rate is subject to changes in the Bank’s Islamic Base Rate.

How is my monthly payment calculated?

Your monthly payment will be computed based on the property price and your Financing Rate. During the Initial Tenure, the monthly payment is a profit only payment to enable lower payments in offering you with the greatest cash flow flexibility. Your monthly payment schedule will be shared with you at the point of signing of agreement. In the event that there is a change in the Bank’s Islamic Base Rate, the monthly payment amount will change accordingly and you will be duly notified by the Bank.

When does the first payment start?

The starting date for your first payment will be from the date you move-in, or fourteen (14) calendar days after the date of the move in notice issued by the Bank to you to collect the keys, whichever earlier.

Who will pay for the maintenance fees, utility charges, quit rent, insurance/takaful etv of the property?

You will be required to pay the above charges.

How Do I Apply?
Which projects can i apply for?

You can browse all participating projects by developers HERE

How do i apply for HouzKEY?

Browse our property selection HERE and select the project that you are interested in.

Click “register interest” and fill in your details.

The developers/agents will get in touch with you for the next steps.

Alternatively, you may also make a booking directly with the participating developer and apply for HouzKEY.

How do i know if my application is succesful?

Please allow us a few days to assess your application. We shall then inform you via email on the result of your application and the next steps.

Aplication Requirement
What is the eligibility criteria for HouzKEY?

You must be a Malaysian, 18-70 years old and must not have more than 1 home financing (including HouzKEY facility) at the point of application.

Application Requirement
Can I apply for HouzKEY under joint names?

No, there can only be one main applicant. You may however apply for HouzKEY with up to three guarantors. Pursuant to the actual purchase of the property, you may consider joint names, if required.

What is the requirement to be a guarantor?

You can apply for HouzKEY with up to three guarantors. They should be 18-70 years of age and must be members from your immediate family such as your parents, siblings, spouse or children. Guarantors are exempted from the criteria of having not more than 1 home financing (including HouzKEY facility) at the point of application.

What documents do I need to apply for HouzKEY?

You and your guarantor(s), if any, are required to upload the following documents in your application:

I. Identity Card (NRIC); and

II. Employed (salary earner):

  • Latest 3 months consecutive salary slip
  • Latest EPF statement
  • Latest 3 months bank statements (if non Maybank crediting salary)

*Note: If working overseas, to provide Employment pass/working permit and Employment Letter and overseas EPF / Credit Report (EPF/CCRIS equivalent), if any.


III. Self-employed (sole-prop & partnership):

  • Latest 6 months bank statements
  • Latest consecutive 2 years B/BE Form (with tax receipt)
  • Latest 2 years financial Financial Account Statement/Management Account
  • Latest SSM search


IV. Any other supporting documents to strengthen your credit profile:

  • Latest BE form with tax receipt
  • 2 years EA form for non-contractual bonus
  • Employment confirmation letter on fixed bonus
  • 6-months or up to 1-year bank statement or commission/variable allowance/overtime/service points vouchers
  • 3-months pension statement
  • Copy of ASB book or Tabung Haji reflecting customer’s name and latest balance
  • Copy of Fixed Deposit certificate
  • Valid tenancy agreement not less than 6 months from expiry date, or 6 months bank statement showing rental income and property ownership evidence.

Our officer may be able to guide you on the supporting documents once you have submitted the mandatory documents as stated in I and II or III above

What is the next step after my application is successful?

You and your guarantor (if any) will have to come to the designated Maybank branch for payment and execution of Agreement and any other relevant documents within fourteen (14) calendar days from the date of email notification. Please ensure you contact us to book an appointment first.

Nominee & Takaful/Insurannce
Why should I appoint a Nominee?

This is optional however we highly recommend that you assign a nominee as the assigned nominee is allowed to continue on with your HouzKEY arrangement in the unfortunate event of your passing.

Who can I appoint as my nominee?

You may appoint any person of your choosing. However, the nominee will need to have the intent and financial ability to continue with your HouzKEY arrangement in the unfortunate event of your passing. You should also keep your guarantor(s), if any, informed on the named nominee.

How do I appoint the nominee?

You may indicate to the Maybank officer during signing of the Agreement with the Bank.

Do I need takaful / insurance coverage?

There are two (2) types of Takaful/Insurance coverage that are relevant for your property under HouzKEY:

a) Fire Takaful / Insurance

It is compulsory for you to take Fire Takaful to cover the property.

The annual contribution will be charged to you as part of your monthly billing.

b) Life Takaful / Insurance

This is optional, but we highly recommend that you take Life Takaful based on the property purchase price to ease your appointed nominee in the event of your passing.

Missed Payment
What happens if I stop paying my monthly obligation?

Once the agreement is signed, any missed payment may be considered an event of default. The Bank will take legal actions and this will impact your records in BNM’s CCRIS.

What should I do if I have difficulties in making payments?

Please contact us immediately if you are experiencing difficulties in making payments. Our team will guide you on the next steps.

Settlement Option
How do I settle my HouzKEY financing?

You may refinance your property with any other banks or sell the property to settle the amount outstanding after fulfilling one year payment with HouzKEY.

What are the costs involved when I refinance to other banks?

The following is an illustration of estimated costs for a RM500,000 property:

estimate cost refinance

**the above estimation excludes disbursements, taxes and extra copies.

Can I withdraw my EPF account 2 for the monthly payment?

Can I withdraw my EPF account 2 for the monthly payment?

Do I enjoy the gain when I sell the property?

You will enjoy 100% of the gain. Please note that Real Property Gain Tax (RPGT) may be applicable on the property gains enjoyed upon the sale. The applicable rates will be based on the length of period you have served under HouzKEY up to effective sale date.

Expire of The Initial Tenure
What happens at the expiry of the Initial Tenure?

You have the flexibility to decide on discontinuing with HouzKEY at the expiry of the Initial Tenure.

What do I do if I want to continue staying in the property with HouzKEY after the Initial Tenure?

Please contact us if you wish to continue with HouzKEY at least six (6) months prior to the expiry of the Initial Tenure.

Can I get back my 3 months security deposit once I choose to continue with HouzKEY?

Yes, you will get back your deposit after you sign up for the continuation.

Will I be reassessed when I continue with HouzKEY?

No, you will not be required to submit new income documentation for assessment.

Do I need any downpayment to continue with HouzKEY?


What are the costs involved when I want to continue with HouzKEY?

The following is an illustration of estimated costs for a RM500,000 property:

estimate cost continue with houzkey

**the above estimation excludes disbursements, taxes and extra copies.

Can I reduce my outstanding principal when I continue with HouzKEY?

Yes you may. You may also withdraw from your EPF account when you continue the remaining years with HouzKEY (after the Initial Tenure). However kindly be reminded this is subject to EPF latest withdrawal policies.