I need to check on PTPTN, but car loans are calculated on simple interests... the same goes with credit cards and personal loans, these are calculated using simple interest method. To do an apples to apples comaprison you will need to convert it to annual interest rate.

As you can see, the simple interest rate of 3.2% when converted to anual interest becomes 5.84%, which is higher than 4.2% annual interest for a typical housing loan

Annual interest rate for housing loan, 4.2%



Simple interest converted to annual interst, 3.2% becomes 5.84%

So what you did just now was to calculate the loan based on simple interest, which doesn't make  you wrong, but the whole exercise was to convert the simple interests (PL, HP, CC) into annual rates to see how it would compare to annual interest loans (Mortgage, ASB-loans, some PL)

So based on your calculation, at 3.2% (not p.a. since this isn't an annualized interest) for 9 years, the total repayment is RM128.8k, which is correct. Now if you plug in the numbers (the total repayment) into a mortgage calculator (using annualized interest, ie. p.a), the interest rate is 5.84%.

So a 3.2% simple interest (typical HP rate for local cars) is actually more expensive than 4.2% annualized interest (typical mortgage rate)



All this means is that the simple interest cannot be compared to annualized interest without conversion. So it is wrong to say "HP rate is cheaper than mortgage" just by looking at the numbers. Even bankers (salesmen) tend to make this mistake.