Housing Fund Scheme

Benefits

Learn more about Housing Fund Scheme benefits to start saving for owning a house. 

 Go to Housing Fund Scheme

Benefit 1:


Guaranteed Dividend

3% per annum

for members contributing to the Housing Fund Scheme account.


This benefit is available only to individual participants with a basic salary not exceeding $6,000.00 per month. 


For participants with a salary above $6,000.00, the dividend rate will be based on what TAP has declared.

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Benefit 2:


Home Ownership Financial Assistance

Financial Assistance under this Scheme is available exclusively for participants whose average monthly income over the last 24 months preceding the application is not more than $2,000, or whose household income does not exceed $4,000 per month.

Conditions to be Eligible for the Financial Assistance

Eligible Age

At least 25 years old at the time of the withdrawal application for this scheme.

Not a House Owner

Does not own a house for themselves or their family (e.g., spouse or dependents).

Contribution Frequency

Has made consistent and continuous contributions as a member of TAP and in this scheme for a period of not less than 48 months.

Contribution Rate

Has an average contribution rate of at least 5% of their monthly salary into this scheme.

TAP Housing Withdrawal

Has not made any withdrawals from their TAP account under the TAP Housing Withdrawal scheme.

Note:

For individual participants without a family, the financial assistance will be half of that provided to participants with a family. However, if the participant marries and their household income falls below $4,000.00, they may be eligible for a top-up, provided they still meet the other eligibility criteria.