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> Need advice on repaying PTPTN loan, all ur News and Questions on PTPTN

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atria83
post Jan 10 2008, 10:58 AM

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Hi...just sharing my experience paying back my ptptn loan...i've been paying for two years already...

i've paid rm 200 per month...since my interest per month is arount rm 130....so basically i've paid only rm 60 to 70 while the rest is for the interest...btw my loan with ptptn is around RM 54,000.00...

and i've learned that the payment need to be done before 17th every month...or else the interest amount will increase...

so my advice are...

pay before they charge the administrative charge...that is on the 17th every month...

please...don't pay to amount that you like only...please see how much the administrative charge is...then pay more than that...because no point you paying less then the administrative charge...

well...that advice i can share with you all...hope it helps....or at least enlighten the few...
kinwawa
post Jan 10 2008, 12:39 PM

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QUOTE(wintermelon @ Dec 28 2007, 11:07 AM)
Why suddenly they are charging this interest/admin charges? Those who borrowed about 10 years ago do not have to bear the same charges. It's so unfair.

Government is getting really poor, not much money left for those people to 'makan rasuah'. That's why they are chasing everyone to pay.
*
I think u never took LOAN before is it??? Previously..it was 4% of interest at my time (7 years ago)...now they reduced it to 3%....and now u r saying they 'do not have to bear the same charges'??????? Dun talk nonsense or something that u do not have 'FACTS' for!

3% of interest is really little.....and it does not help when everyone is defaulting on their payment...if u can afford to change hp....buy VIOS/CITY or new car and can settle those car loans and not education loan....i despise u.....

if u do not pay now....maybe they r inefficient now to catch those who defaulted on payment but eventually......in future....who knows...u might need to pay A LOT more than u owe ....at the time when they really become 'efficient' and start catching ppl....

fyi...they now have a new law stating that those who do not pay for some period of time although earning salary, ur passport will be barred fr leaving the country....

just tat....in view of future generation....if u take loan...u have to pay...just as u agreed when u signed....it's stated there 3%.....if u agree on tat...just pay when u get ur money....

if u dun agree....DUN TAKE THE LOAN....and u do not have to pay any...

fyi..my colleague taking KOJADI loan 13 yrs ago...have to pay their interest of 8%......

-just my 2 cents-

leekk8
post Jan 10 2008, 04:32 PM

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QUOTE(l3iTi @ Jan 10 2008, 10:18 AM)
Anyone know how they count the interest for PTPTN??
My loan is 21k. Interest is 3%.

My question are:

a) So the interest for one month is 21000 x (0.03/12) = MYR 52.50
    Is that correct?

b) Interest started to count in 17th Oct. But i already started to pay before Oct. The interest should be counted base on the balance on 17Oct. Am i right??

I get the PTPTN Statement, it showed that interest is only MYR 48.70 rclxub.gif It's slightly lower than 3% lor So i believe my statement in Question b) is right hmm.gif

c) But when i compare my statement with my frens that never pay before, they have the same interest as mine  doh.gif So how does PTPTN calculate interest??  rclxub.gif
*
a) Correct.

b) Correct, the interest is calculated based on the outstanding loan.

c) If your friends never pay, their interest definitely won't be decreasing and will increase from RM52.50. It's impossible your friends didn't pay and their interest will become RM48.70 now, unless the loan amount they took is different from yours.
l3iTi
post Jan 10 2008, 04:48 PM

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QUOTE(leekk8 @ Jan 10 2008, 04:32 PM)
a) Correct.

b) Correct, the interest is calculated based on the outstanding loan.

c) If your friends never pay, their interest definitely won't be decreasing and will increase from RM52.50. It's impossible your friends didn't pay and their interest will become RM48.70 now, unless the loan amount they took is different from yours.
*
I've sent an e-mail to PTPTN to ask bout this as well...so wait for their feedback and see what they say...

QUOTE
c) If your friends never pay, their interest definitely won't be decreasing and will increase from RM52.50. It's impossible your friends didn't pay and their interest will become RM48.70 now, unless the loan amount they took is different from yours.


Impossible shakehead.gif...as we are from same course...and i helped them to pay the PTPTN as well shocking.gif rclxub.gif
The most irritating thing is, cant view our PTPTN statement for year 2007 online now...it's under construction vmad.gif
otherwise
post Jan 10 2008, 05:30 PM

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In my oppinion, its fine if we pay as low as rm100 per month since my admin fee is rm 60 and ptptn allow me to pay back period is up to 240 months. i dont care to settle my loan late since they told me if we died the loan will be insured.
calistachan
post Jan 12 2008, 09:03 AM

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i am still a student, n just get an approval from ptptn. i guess now they have become more strict. there are statements that state, if we din pay for the loan, they got the right :
-minus from EPF
-to request us to pay more for tax
-direct minus our salary from employer
(and we need to sign these agreement)
*if i am not mistaken

This post has been edited by calistachan: Jan 12 2008, 09:03 AM
funnyTONE
post Jan 12 2008, 09:17 AM

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Yea, even though the repayment can be hardening to me (as any loan do), I still have to be thankful for PTPTN giving me a chance to obtain my education. Without it, I dont have any other reliable source of money to pay for my education. I have already accepted the interest rate and the responsibility of the repayment because it is I who signed the contract. Can't really blame them for charging us the agreed rate rite? Just imagine that these interest would put another student to the university.
calistachan
post Jan 12 2008, 09:29 AM

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so the interest rate will follow the rate that we agreed when we signed the agreement, rite ? for example, 2 years later, when i need to repay my loan, the current interest is 4% now, so i just stick to 3% as agreed in the agreement, am i rite?
kanasai88
post Jan 12 2008, 10:38 PM

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Still not so sure about the calculation,

ok, this is my calculation based on my understanding & my statement

TOTAL Bayaran Ansuran (10 years) = RM21000+kos pentadbiran (3,821.38) = RM24,821.38 (OK,fine, Tally)

BUT,

IF I pay one month lately, they will charge me so called Kos pentadbiran again RM48.75 <-- I do not think this correct, because they ald charge me the kos pentadbiran earlier, am I right ??

I asked them previously, they said the kos pentadbiran already calculate inside the monthly payment, you just need to follow the amount in the statement no matter you late or what, you just need to pay back th amount you have missed & no extra charges needed. This is what I get from PTPTN people.. but Now they start charging me... rclxub.gif rclxub.gif rclxub.gif

Anyone show me the correct calculation?
~^Alice^~
post Jan 13 2008, 12:00 AM

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Just curious. Has PTPTN started to bar people who has not paid them to go overseas?
frequency
post Jan 13 2008, 01:42 AM

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taikor.....pay la..no free lunch in this world...
I am now also paying RM300 per month...till salary naik..oni follow the plan which 400....
guan yin ma popi
Dennos
post Jan 13 2008, 11:56 AM

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score 1st class result mah no need pay lo,
Si|enCer
post Jan 13 2008, 12:09 PM

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QUOTE(Dennos @ Jan 13 2008, 11:56 AM)
score 1st class result mah no need pay lo,
*
That is old time story right? Now the rules change already. Whether you're first class student or not, no money no talk.
calistachan
post Jan 13 2008, 01:18 PM

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QUOTE(Si|enCer @ Jan 13 2008, 12:09 PM)
That is old time story right? Now the rules change already. Whether you're first class student or not, no money no talk.
*
yaya....no more such rule.....every1 hafto pay back when they got da loan.
amenlo9
post Jan 13 2008, 07:18 PM

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QUOTE(calistachan @ Jan 13 2008, 01:18 PM)
yaya....no more such rule.....every1 hafto pay back when they got da loan.
*
this is due to too much student never pay back the loan sad.gif
l3iTi
post Jan 14 2008, 10:40 AM

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QUOTE(kanasai88 @ Jan 12 2008, 10:38 PM)
Still not so sure about the calculation,

ok, this is my calculation based on my understanding & my statement

TOTAL Bayaran Ansuran (10 years) = RM21000+kos pentadbiran (3,821.38) = RM24,821.38 (OK,fine, Tally)

*
Do you mind to explain how you get this?
kos pentadbiran (3,821.38)
amenlo9
post Jan 14 2008, 11:47 AM

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for those get the loan from PTPTN,i think you will receive 1 letter from them and show you all the calculation
l3iTi
post Jan 14 2008, 12:06 PM

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QUOTE(amenlo9 @ Jan 14 2008, 11:47 AM)
for those get the loan from PTPTN,i think you will receive 1 letter from them and show you all the calculation
*
They only show you the amount...
no calculation is showed.
Even use the calculator provided by the PTPTN website, it's not tally with what is written in the PTPTN Statement... rclxub.gif
amenlo9
post Jan 14 2008, 12:42 PM

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the calculation have to depend on the amount u paid per month as well.the more u paid,u will settle the loan faster and pay less interest.

Example on 10,000 Loan:

yearly interest= RM300,so monthly u have to pay : RM25.

If u paid RM25 per month,until you die,you still only paid their interest only.So if u paid more than RM25 like RM50.after 1 year is RM600.

So 2nd year = RM10000+RM300 interest - RM600(you paid)=RM9700

RM9700x3% again ....
TSAeon_Clock
post Jan 14 2008, 03:04 PM

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QUOTE(atria83 @ Jan 10 2008, 10:58 AM)
Hi...just sharing my experience paying back my ptptn loan...i've been paying for two years already...

i've paid rm 200 per month...since my interest per month is arount rm 130....so basically i've paid only rm 60 to 70 while the rest is for the interest...btw my loan with ptptn is around RM 54,000.00...

and i've learned that the payment need to be done before 17th every month...or else the interest amount will increase...

so my advice are...

pay before they charge the administrative charge...that is on the 17th every month...

please...don't pay to amount that you like only...please see how much the administrative charge is...then pay more than that...because no point you paying less then the administrative charge...

well...that advice i can share with you all...hope it helps....or at least enlighten the few...
*
my interest was stagnant in the last statement...I have a feeling they only calculate once a year and charge the rest of the way?

btw, anyone knows how to pay PTPTN?

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