Hi guys, here some idea for you on PTPTN,
Why we charge 3% interest is natural understanding, we borrow we pay with interest. But I doesn't know anything bout 10 years ago how PTPTN charge, but I know that some people doesn't want to pay back PTPTN loan.
OK, why administrative fees is so high? This is actually the interest started to calculate once you working/6 months after you graduated. And the interest is times with the total loan annually. So for the first few years, you might be paying the admin fees. Correct me if i'm wrong.
Ok, for example here...
Total loan = RM80,000 and 3% interest for 20 years
And every month I'm entitle to pay RM500 (Approximately)
Then PTPTN will send a statement on a better paying ways, which will not burden for starting.
For 1st years, RM150
2nd years, RM200
3rd years, RM250
4th year, RM300
5th year, RM350
6th year, RM400
8th year, RM550
25th year RM550
Approximately, the period is extended extra 5 years, but it will be easier to pay for starting. And If you have large sum of money...do pay the loan as it will always be non-benefits to prolong ur loan too long. Bare in mind that though some do not pay, but heard some said our name will be black listed....well, don;t know is true....but just something what i know here and share with you guys here....PEACE