thanks . gonna make use of the 20% and pay it

HI all,

Just would like to ask is it worth to use EPF 2 account to pay off PTPTN?
with 20% off.

Worth of not is very subjective.
EPF Account 2 can be used for property related transaction. Think properly.

For 10% disc if repay at least 50% of outstanding amt, I don't need to enquire PTPTN right? I only need to pay a single cc payment to get the discount right? Because not enough money to repay all

Not sure, I think no harm to ask PTPTN what is the correct way so that you can get the 10%. They are fast in replying

Can anyone please advise on the 10 percent discount on paying half for remaining debt? My remaining debt is 27k, half of my remaining debt is 13.5k, given discount 10 percent, 1.35k, i need to prepare 12.15k right? The 10 percent discount is directly deduct from the 13.5k right?

try to visit the ptptn branch or get an agent to help you come out with the correct amount.

Thanks.

Yes even EPF dividend is much higher, will think twice...

Meaning its not worth to take the 20% discount offer?

I remember there was a blog wrote about it with some calculation done to show it is actually worth to take up the offer...

But now the question is, worth to pay by cash or take out EPF?? I'm in tht dilemma now..

Any input from you guys???

This post has been edited by ganaesan: Nov 19 2018, 10:17 AM

EPF pays about 6% interest...can your cash generate that?
factors such as still a lot of having cash flow after paying cash also plays apart in that consideration too....

my take will be for those low amount, not worth to settle all at once. Just pay minimum amount monthly.....

my balance is RM41k as of last week

after discount is RM33k, if im not mistaken

i remember i save around RM8500 in total if i pay up

is 8500 worth to touch on EPF, assume i take out 20k

This post has been edited by ganaesan: Nov 19 2018, 03:59 PM

Thinking want take 20k from EPF and balance 13k use cash

i save around 8500 in total if i take up 20% discount coz my current balance is 41k

whats the latest implication on PTPTN holders? are you all barred from travelling atm if the debt has not been settled? or monthly repayment not done.

blacklist on CCRIS / CTOS?

Immigration ban has been lifted.
CCRIS will still stay.

Salary threshold for mandatory PTPTN repayments increased to RM2,000

Read more at https://www.thestar.com.my/news/nation/2018...cbAXbgohrbmD.99

Whether it is better to use EPF saving to settle the remaining balance and enjoy 20% off... It depends on your balance amount and current monthly repayment amount.

I make an Excel table for the calculation and it shows I get to save a little more by settling the loan now (using EPF).

Points to consider for the calculation. Some pro some cons...

1. EPF does not guarantee 4% or 6% or 8% return. 2.5% is possible. You have no control.
2. Settling PTPTN loan clears it off your CCRIS. Good if you're planning to buy bigger house.
3. EPF's dividend is calculated based on daily-rest.
4. Flexibility in cash flow is good.
5. Discipline is very important (as in everything about money).

If you have the discipline to still contribute the monthly repayment amount into a good investment (stocks, mutual funds, etc) after settling the PTPTN loan; then you should be fine.

If you use the additional cash flow for shopping (zero-interest 24-month installment plan for iPhone) after settling the PTPTN loan; then you are screwed.

All in all, if you have no idea what I'm talking about... Just keep your EPF money where it is now and pay PTPTN every month.

This post has been edited by Ethan: Nov 30 2018, 09:23 AM

U have put it nicely bro..
Very clearly u hv explained the pros and cons..

Having a good discipline to divert the extra cash flow to investment is the main problem faced by all including myself..

I decided to continue monthly payment to ptptn.. at most I save RM8600 by taking up the 20% discount offer coz I hv outstanding of 41k right now..

Hmmm
Finally decided.. thanks

me also pay monthly... no need look at 20% rebate...

Short term gain vs long term gain.
It depends ... no right or wrong!