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4:11pm 13/10/2023
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Malays top the list in applying for personal financing from banks under EPF’s facility

KUALA LUMPUR: Malays top the list in applying for a total sum of RM639.6 million under the Account 2 Support Facility (FSA2) to request for conditional withdrawal from Employees’ Provident Fund in obtaining personal financing from Bank Simpanan Nasional and MBSB.

Prime Minister Datuk Seri Anwar Ibrahim, who is also finance minister, said 34,013 Malays made the applications as of October 2.

Chinese applicants made up 22 percent or 14,063 EPF members for RM345.7 million, while 7,627 Indians or 12 percent applied for the facility totaling RM143.2 million, he said.

In a written reply to Kluang Member of Parliament Wong Shu Qi, Anwar said majority of applicants came from Selangor.

A total of 21,744 applications were from Selangor for a sum of RM467.6 million, followed by 8,082 applications (12.5 percent) from Kuala Lumpur for RM182.5 million, and 6,873 from Johor (10.6 percent) for RM127.8 million.

As of October 2, BSN and MBSB have approved 64,619 applications for RM1.29 billion for the first phase of FSA2 starting April 7.

A total of 46,805 applicants or 72 percent are male and 17,814 or 28 percent are female.

Most of the applicants are from the 40-45 age group (65.3 percent) for a total sum of RM853.9 million.

The number of applicants aged between 46 and 50 is 18,490 (28.6 percent), applying for a total sum of RM397.7 million.

Only 6.1 percent of applicants (3,964) are aged 51 and above, applying for RM40.5 million.

FSA2 allows EPF members to apply for advance notice of conditional withdrawal from EPF to help them obtain personal financing.

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