Interest rate for special home loan stays as it is

THE Government has dismissed calls to reduce the interest rate of the controversial RM1.5bil special home loan scheme through the Employees Provident Fund (EPF) from 6.5% to 2%, saying that it has minimal impact on homebuyers.

Federal Territories and Urban Well-being Minister Datuk Raja Nong Chik Raja Zainal Abidin told the Dewan Rakyat that qualified homebuyers would need to fork out RM243 in monthly repayment for a loan of RM36,100 over 25 years under the current 6.5% interest rate.