This could be a long post with full information about Skim Amanah Rakyat 1Malaysia (SARA 1Malaysia). As we all know, our prime minister has launched the Skim Amanah Rakyat 1Malaysia (SARA 1Malaysia) on 12th January 2012. This was previously informed in 2012 Budget in parliament last year.
Through this scheme, eligible Malaysians household will have the opportunity to apply for a RM5,000 loan from participating financial institution such as CIMB Bank, RHB Bank, Maybank dan Bank Simpanan Nasional (BSN) to invest in Amanah Saham 1Malaysia (AS 1Malaysia) managed by Amanah Saham Nasional Berhad (ASNB). Eligible Malaysians household selected to join this scheme will receive attractive incentive payments on their savings and investments.
Scheme Special Feature for Skim Amanah Rakyat 1Malaysia – SARA 1Malaysia
- Monthly incentives are provided to the participants in the form of additional Amanah Saham 1Malaysia (AS 1Malaysia)I units.
- Participants need to pay only the minimum monthly payments for 5 years.
- Incentive payments are provided every month for 5 years. Participants need to ensure that the minimum 100 units are reserved in the AS 1Malaysia book at any time.
Klik Sini Untuk Bahasa Melayu: Syarat & Info Permohonan Skim Amanah Rakyat 1Malaysia – SARA 1Malaysia
Eligibility to Apply Skim Amanah Rakyat 1Malaysia (SARA 1Malaysia)
- Malaysians aged between 18 and 58 years old
- Gross household income of between RM500 and RM3,000
- Applicants must not be declared bankrupt throughout the loan funding period
- Any other terms set by the banks
- Applicants and / or spouse must not be a participant or beneficiary of any ASNB-related Government programme:
- Program Pembangunan Rakyat Termiskin;
- ASB Sejahtera; and
- Applicants and / or spouse do not have any investments in ASNB unit trust products OR applicants and/or spouse(s) (household) have a combined aggregate investment of less than RM10,000 in all ASNB products
- All-clear status for ASNB unit trust account
- Application is subject to the distribution of Amanah Saham 1Malaysia (AS 1Malaysia)Ias stipulated and availability:
- Bumiputera – 50%;
- Chinese – 30%;
- Indian – 15%; and
- Others – 5%
- Only one member of the household is eligible to obtain the loan funding
- Application is approved for a loan at one bank
* Eligible Household – individuals with gross household monthly income of between RM500 and RM3,000 with:-
- Married – combination of gross income of the husband and wife not more than RM3,000.
- Single mothers or fathers – individual gross income not more than RM3,000.
Application Skim Amanah Rakyat 1Malaysia (SARA 1Malaysia)
Interested applicants must obtain forms from participating banks starting from 30 January 2012. Completed forms together with the required documents are to be submitted to the banks for verification and consideration. Successful applicants will be informed by the banks.
Required Document to Apply Skim Amanah Rakyat 1Malaysia (SARA 1Malaysia)
- Application form to participate in Skim Amanah Rakyat 1Malaysia (BPPSARA1M)
- Loan Form from the participating financial institutions
- Registration form of Unit Amanah Akaun Dewasa ASNB P1
- Additional Investment Form ASNB 21
- Redemption Form ASNB 31
- Investment Book Renewal Form BS3
- Risk Disclosure Statement (RDS)
- Original and 2 copies of Mykad of applicants
- Original and 1 copy of Mykad of spouses (if applicable)
- Certified Income document
- For applicants and/or spouses, please provide original and copies of the latest three months’ Pay Slips or Bank Statements.
- For applicants who do not have Pay Slip or Bank Statement, the income declaration stated in BPPSARA1M Part C will be applicable.
BPPSARA1M from MUST be signed before a WITNESS – either the Employer/Penghulu/Official at the Department of Orang Asli Development/Government Official in a Managerial Position /Member of State Legislative Assembly/ Member of Parliament.
Loan Features for Skim Amanah Rakyat 1Malaysia (SARA 1Malaysia)
- The loan amount is RM5,000 per household.
- The loan is for the purchase of 5,000 Amanah Saham 1Malaysia (AS 1Malaysia)I units.
- Participation will be opened for one year starting from 30 January 2012* or upon full subscription of the total allocation, whichever is earlier.
- Participation will be disqualified in the event of:
- The participant misses three consecutive monthly payments;
- The participant provided false information during application;
- The participant is declared a bankrupt; or
- The participant dies.
Any doubt you may refer to the Sara 1Malaysia FAQ page to clear and to get the full information. Refer to the important links below:
You can visit SARA 1Malaysia website for more info.
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