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October 07, 2011 18:59 PM

Budget 2012: Government To Introduce Skim Amanah Rakyat 1Malaysia

KUALA LUMPUR, Oct 7 (Bernama) -- The government will introduce Skim Amanah Rakyat 1Malaysia (SARA 1Malaysia) to increase disposable income and encourage savings among the low-income group.

The scheme will be implemented by Permodalan Nasional Bhd in collaboration with selected financial institutions, effective January 2012, said Prime Minister Datuk Seri Najib Tun Razak when tabling 2012 Budget at the Parliament here Friday.

The scheme is available to households with income below RM3,000 per month and will benefit 100,000 households.

Participants can apply for a RM5,000 loan with a repayment period of five years.

-- BERNAMA

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