Human Resources Minister Dr S Subramaniam noted today that so far only RM2 million has been taken up from the RM50 million low-cost housing loan scheme for plantation workers in peninsular Malaysia.   

He said the scheme, which was implemented last year under Bank Simpanan Nasional, provided loans up to RM60,000 with repayment term of 40 years and four percent per annum interest rate.   

“The scheme aims to handle the issue of post retirement plantation workers not owning houses by offering the lowest interest rate. So don’t wait, just apply for a loan as soon as you have 10 years of service,” said the minister while launching the scheme in Johor, in Segamat today.  

He presented house keys to nine workers who were the first group in the state to obtain the loans.

Dr Subramaniam, who is also Segamat member of parliament, added that the government was aware of the challenges they faced over housing after retirement and he urged the 881,000 local plantation workers to seize the opportunity under the scheme.

- Bernama