Selangor Journal

Applications for Skim Saraan Bercagar in Klang Valley to open starting Jan 17 

KUALA LUMPUR, Jan 15 — Cagamas Bhd’s Skim Saraan Bercagar (SSB), a reverse mortgage loan for retired home owners, will be open for applications from eligible home owners in the Klang Valley beginning Monday, January 17, 2022.

The national mortgage corporation said the SSB is a scheme which aims to help the elderly homeowners fund their retirement.

“The scheme allows retirees aged 55 and above, to borrow against the value of their fully paid homes and convert it into a steady monthly cash payout throughout their lifetime to supplement their retirement funds,” it said in a statement yesterday.

For the pilot launch of the scheme, the SSB loan will be offered at a fixed rate financing of five per cent per annum on the outstanding loan amount and a one-time upfront recourse waiver fee of 1.75 per cent on the initial property value. 

Under a fixed rate offering, the scheme is able to offer retirees a higher monthly payout as it is able to withstand interest rate fluctuations throughout the entire SSB loan tenure.

On other benefits, Cagamas said the monthly payout disbursement is its lifetime commitment, subject to terms and conditions.

No repayment is required during the lifetime of the borrower. “Repayment is only due upon the demise of the borrower or last surviving joint borrower,” it said.

There is also no recourse to the estate in the event of insufficient proceeds from the sale of the property to repay the outstanding balance of the SSB loan.

Interested applicants may schedule an appointment for SSB at either of two Employees Provident Fund (EPF) branches — in Kuala Lumpur and Petaling Jaya —  via

For detailed information on the features, eligibility criteria, and application process including a calculator for indicative monthly payout, they can also visit the SSB website,

Enquiries on SSB may also be directed to [email protected]

— Bernama

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