“Skim Sara 1Malaysia” What are the benefits? How to apply?

“Skim Sara 1Malaysia” was initially brought up by our beloved Prime Minister Dato’ Seri Najib during the presentation of the 2012 Malaysia Budget was launched yesterday.

This scheme will be beneficial to more than 100,000 citizens with monthly income of RM3000 and below.Therefore, if your goodself is eligable to enjoy this benefit, please go to any PNB office or any participating bank near you.

The application will be opened starting 30th January 2012 first come first served basis. The application will be open for 1 year from the date the application is made open to the public or until the fund allocation has been fully utilized, whichever comes first.

Therefore, we do encourage the Malaysian citizens to start applying on the 30th January 2012 with complete documentations to avoid any issues to your application.

Through this Scheme, eligible Malaysians will have the opportunity to apply for a RM5,000 loan from participating financial institution to invest in Amanah Saham 1Malaysia (AS 1Malaysia).

How to make loans under the SARA 1 Malaysia

Investors of SARA 1Malaysia are eligable to apply for financial loan up to RM5000 with payback period of 5 years. Participating banks are Maybank, CIMB,RHB and BSN.

The SPV will provide guarantee for the investments in SARA 1Malaysia, a special scheme aimed at encouraging the lower income group to save and invest. The scheme is a hybrid of a unit trust investment and loan product, capable of generating consistent cash flow or monthly incentives.

REQUIRED DOCUMENTATION

MAIN DOCUMENTS
Borang Permohonan Penyertaan Skim Amanah Rakyat 1Malaysia (BPPSARA1M)
Borang Pembiayaan dari Institusi Kewangan terlibat
Borang Pendaftaran Unit Amanah Akaun Dewasa ASNB P1
Borang Pelaburan Tambahan ASNB 21
Borang Jualan Balik ASNB 31
Borang Pembaharuan Buku Pelaburan BS3
Penyata Pendedahan Risiko/ Risk Disclosure Statement (RDS)
Dokumen Sokongan
Kad Pengenalan asal pemohon dan 2 salinan
Kad Pengenalan asal pasangan (jika berkenaan), dan 1 salinan
Dokumen Pengesahan Pendapatan

For all working applicants and/or partner, please include the latest 3 months payslip OR the latest bank statement, original and copy.

For those who doesn’t have a payslip or a babnk statement, you will need to fill in the declaration section in the BPPSARA1M Section C.

The BPPSARA1M MUST be signed in front of ONE witness who must be either one of the following :
Employer
Village Head
Officer of the Jabatan Kemajuan Orang Asli
Government Officer from the management or professional group
State Assemblymen
Members of the Parliament

PRE REQUISITES
The applicationis open to all Malaysians between the age of 18-58 years old
Housewhole earning must be RM3000 or less
The applicant must not be declared bankcrupt within the duration of the loan
Other criterias set by the banks

Applicant and/or partner are not receiving any other special schemes from the government under the management of ASNB:
Program Bantuan Pembangunan Rakyat Termiskin (PPRT);
ASB Sejahtera; and
ASW 2020 Bandar

The applicant and/or partner do not have any investment in any ASNB Unit Trust OR
If the applicant does have, the collective investment must be RM10,000 or less.
The Status of the ASNB Unit Trust Account must be clean

The application depends on the distribution policy that has been stated and availibility :
Bumiputera – 50%
Chinese – 30%
Indian – 15%
Others – 5%

Only 1 from a housewhole is eligable for the loan
Approved loan muxt be from the same bank.