This is a problem started by the previous gov....the whole idea of loans for private education is a scam itself....but the problem was created because there was no system of effective repayment....and when people defaulted, no effective action was taken.... imagine a bank with npl 50%!!!

Now the new gov is trying to clean out the mess, and get blamed by all....

The solution is actually so simple....no need reinvent the wheel, see what other countries are doing....this solution l have proposed long ago.....the problem is just the quantum proposed....

The new gov doesnt reduce your monthly burden, but increasing your burden. Way to go and lie pakatan harapan. Just a few month, you politician become close to najib. After lie and lie, power abuse and then come corruption. BN 2. 0. Well mahacai mahacai still ok wth kene kencing.

dont want baca balik. wat was your proposal again?

Comparing? Seriously, what are you trying to prove? What a genius wannabe

the more you earn the more you pay..its the same as income tax. if you earn 5k you pay 500 all the while and now you earn 8k you still want to just pay 500 meh.

Not too sure what the arguments are about

But simple interest rates (HP, personal loans) are as per its name, simple to calculate. But it doesn't reflect the true outstanding balance at the moment because the installments are calculated with the interest included throughout the tenure of the loan. What if you decided to settle the loan early? The bank would have to give you a rebate on unpaid interests, but this is not efficient and the calculation can be very convoluted. And when things are convoluted, the borrowers become the victim.

So BNM encouraged banks to adopt the annualized interest rate. It is a fairer way to calculate the installments and displaying the interests. It can also be used to calculate your interest on a daily basis ([interest %/ 365] x your outstanding for the day)

To compare the two rates, a HP to a mortgage for example, you need to convert one of them to the other. I would convert the HP rate (simple interest) to annualized interest rate.

In fact if I am not mistaken, in CIMB clicks, the outstanding of a car loan that I saw was calculated based on annualized interest, but the marketing was done with simple interest - I believe the banks are catering to the market - people are used to seeing HP promoted at 2-4% (simple interest), but if you convert this to annualized interest, it would be 4-6% which would scare their potential customers.

This post has been edited by wild_card_my: Dec 6 2018, 10:05 AM

Ptptn loan no interest kah?

KUDA KAYU MASIH XJAWAP SOALAN. WAHAI KUDA DIATAS. JAWAP SOALAN ITU..

ujrah interest dah fixed.. byr awal or byr according to given payment scheme is the same amount.. might as well follow the current contract agreement.. its not about not paying, those who rage are the good paymaster..

might affect their financial budget..

got this from another thread so those who borrowed have to suck it up

1% only....keep your money in bank still untung....hence a reluctance to settle loan faster than required....

Follow the Australian system, adapted to local situation....

typical malaysian mentality - thinking that it's the government's responsibility to feed without costs.

if you borrow money then be expected to pay, itu saje.

don't complain here and there.

I think like 1%.

So why would you want to pay it back faster?

Typical malaysian mentality- just baca tajuk and jump into conclusions

very good! kipidap PH

Yo idiot. The agreement contract I sign ask me to pay RM300 for 108 months. I paid since 2013 diligently. Now suddenly next month I have to pay RM1350++?? just because my salary bracket fall to the 15%.

You have poor comprehensive reading. People rage about the sudden increase only monthly payment. The people who rage here are not those bastard who didnt pay a single cent nor they dont want to pay at all.

Get it?

or need some drawing in a flowchart for you to comprehend this?

i'm referring to those people who posts here that complained RM1.2k deduction of a RM8k monthly salary is to "burdensome" la, donkey.

Another idiot didnt read and just reply thread here.

The agreement contract I sign ask me to pay RM300 for 108 months. I paid since 2013 diligently. Now suddenly next month I have to pay RM1350++?? just because my salary bracket fall to the 15%.

You have poor comprehensive reading. People rage about the sudden increase only monthly payment. The people who rage here are not those bastard who didnt pay a single cent nor they dont want to pay at all.

Get it?

That's true with the ujrah implementation. They could have gone back to the pre-ujrah days where there's a 3% interest per annum imposed on their remaining loan amount. Maybe it will just motivate people to quickly settle their loan, just like how one would prefer to quickly settle mortgage loans?

**Parking for possible top post**

EDIT: I give up on quote tagging; basically it's a reply to the 1%.

This post has been edited by kay_el: Dec 6 2018, 10:31 AM