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e-Payment system for home loans

25/03/2009 NST

PUTRAJAYA: Civil servants can now service their home loans with even more ease and convenience, thanks to an e-Payment system launched by the government.

With the new online service by the Loans Division of the Treasury Department, borrowers can pay off their loans through CIMB Clicks and Maybank2u, the web portals of the two banks, and debit automatically from their savings or current account.

The division will also be able to pay off the developers or contractors online without issuing cheques to them.

"We are also going to work with the director of the Land and Mines Office for an e-Cagaran (e-Surety) service to speed up payment and the issuance of mortgage.

"With this, developers won't even have to wait for the division to receive the grant first, and borrowers can avoid late penalties by the developers," said Treasury secretary-general Tan Sri Dr Wan Abdul Aziz Wan Abdullah.


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