HouzKEY is an innovative Rent-to-Own (RTO) scheme; the first to be introduced by a bank in Malaysia. It provides an alternative solution for home-ownership by way of a lease arrangement. The product is Maybank Islamic’s response to the growing demand from Malaysians for affordable housing schemes and is catered to first-time home buyers and home upgraders.
It is developed based on the Ijarah concept, a Shariah principle of leasing that includes the option to purchase after servicing a one-year rental. Maybank Islamic aims to address the challenges faced by many home-buyers in coming up with sufficient down payments through HouzKEY. With 3months rental deposit and a flat rental rate for the first 5 years, this is the chance to purchase your dream home!
Public registration and application for HouzKEY will be opened early 2018
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