i agree with you sir.

i've been paying like a good boy since 2016. restructure to ujrah & did Auto debit a year later. rm300/month.
before 2016, i did pay my PTPTN debt monthly but paid rm100-rm150 but CONSISTENTLY every month.
Never FAIL to pay monthly. Must pay due to responsibility to payback whatever i borrowed. At least try to pay with my not so great salary last time.

i don't agree with this new policy regardless to how much income we make yearly.
different people got different commitments.
I believe 3-5% max salary cut is SUFFICIENT in these times of unstable economy.

PTPTN should punish those who NEVER paid a single RM at all or those who pay ON OFF monthly.

Contract sudah fix amount payment

Not sure can suddenly increase by soo much or not

Let me change the analogy

You get a loan from bank in 1990 and monthly installment based on that time blr is 300
Economy crisis in 97/98 and all of sudden u have to pay 1000 but can't afford it due to 6-7 mouths to feed.

Apa susah? 14th floor la. Lel

Why not? Merely an example
Why is it hard? A loan is a loan.. dn talk it like so difficult like need brain to repay.

sadap la you desmond.

wait till you kana at one point in your life baru you tahu.

or when you kana retrench/loss of business, then will think back on what you said to these poor souls like me earlier.

Just STFU and give moral support only.

desmond ni hidup bawah ketiak mak dia kot.. mana dia tau....

aku pun bengang kalau dah in contract slow-slow bayar 200 per month suddenly next month kena paksa bayar 1200....

tu bodo namanya...menghukum the M40 that mostly voted for them...

tell u what..this kind of things that will make BN rise again another 5 years.

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.