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What is Skim Saraan Bercagar (SSB) Reverse Mortgage?

Reverse Mortgage open since 17th January 2022.

The SSB aims to help 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.


What is Skim Saraan Bercagar (SSB) Reverse Mortgage?

 Skim Saraan Bercagar ("SSB") or Reverse Mortgage (“RM”) by Cagamas is a type of loan that is targeted for the elderly or retirees who own a home, and allows them to convert their one big asset — their residential property — into a fixed monthly income stream throughout their lifetime, without sacrificing ownership whilst continuing to stay in their home.

Homeowners can now draw on their home equity to supplement their retirement income, thus reducing dependency on their next-of-kin.

No repayment is required during the lifetime of the borrower. This allows you to continue staying in your family home without repayment during your lifetime.

Retired homeowners can use the monthly payout amount for any purpose, such as medical-related expenses and other necessities to make their retirement years more comfortable.



The Skim Saraan Bercagar Loan only requires settlement upon the demise of the borrower or joint borrower, whichever occurs later.

Four Key Benefits of Skim Saraan Bercagar (SSB) Reverse Mortgage

  • ·         Lifetime tenure

    You’ll have a fixed monthly source of income throughout your retirement years.

    ·         Repayment happens later
    You don’t have to worry about repayment during your lifetime as it will only happen when you or the joint borrower passes away, whichever occurs later.

    ·         Home sweet home
    You are able to reside in your home throughout your retirement years.

    ·         A non-recourse loan
    If the eventual sale proceeds of the property is less than the outstanding loan amount, your family or your estate will not be responsible for any shortfall to settle the Skim Saraan Bercagar Loan.


The Eligibility Criteria are as follows:


How to apply?

Follow each of the steps below and you’re on your way to secure a fixed monthly income throughout your retirement years.


Additional info for Step 1:

You can schedule an appointment with EPF at any of the branches below via this link: https://www.kwsp.gov.my/ms/janjitemu


Additional info for Step 2:
Here is some basic information that you would need to provide:

  • ·         Age of borrower or borrowers (for joint SSB Loan)

    ·         Estimation of property's market value

    ·         Type of property

    ·         Location of property

    ·         Land title of property (i.e. Freehold or Leasehold)

Any costs involved?

If yes, who will bear the costs?

Upon signing up for the Skim Saraan Bercagar Loan, here are some expenses that will be incurred by the borrower. Initial upfront expenses:

  • ·         Legal fees

    ·         Valuation fees

    ·         Property insurance

    ·         Administration fees (if any)

    ·         Servicer fees (if any)

How about leasehold properties? Can?


Good question. Yes, leasehold properties with at least 90 years of lease remaining OR at least 60 years of lease remaining after deducting the remaining expected life of the borrower, are allowed.

Otherwise, the borrower may need to renew the lease to be eligible.