Weekend is off day weekends can't access

I wondering what is "9811 BYR INS KEPADA SYKT" this appear twice a month The amount is few cent to 1 ringgit and "9812 POTONGAN INSURANS" credit me around RM140+- twice in a years

This post has been edited by BlackPen: Feb 11 2014, 07:49 PM

Hi all,

I'm considering paying the full amount of PTPTN to grab the discount of 15% given by our beloved government by using KWSP Account 2. After the workout which seems like not worth doing so? here is my calculation

Here is my calculation:-
PTPTN amount of RM 38,500.00
Monthly payment RM 245.50 (RM 212.92 payment and RM 34.58 interest)
Full payment to save RM 5,775.00 (15% from RM 38,500)

If monthly stick to the monthly pre-payment required 181 months (RM 38,500.00 / RM 212.92 = 181 months equivalent to 15 years) to clear the PTPTN.

With this 15 years, KWSP Account 2 compound interest of 5.5% p.a (assumption) will be earned about RM 49,200.00.

In order to save you RM 12,033.98 (RM 5,775.00 plus RM 6,258.98 (RM 34.58 x 181 Months)). You're losing RM 37,166.02 (RM49,200.00 - RM 12,033.98)

Meaning to say, it's not worth clearing PTPTN using KWSP Account 2. Any sifu can enlighten me? Just a simple calculation.

This post has been edited by BlackPen: Jan 6 2022, 06:11 PM

Yea, government not specifically mention borrowers to withdrawn money from epf account 2 to clear the outstanding, but government are encouraging borrowers to clear the debt. That why government giving out discount.

I’m just sharing the calculation for discussion which is the best way nor best interest to pay the ptptn loan. This is what lowyat forum for and not just reply “if you think not a good decision, then continue with the instalment”. It’s not benefits to this thread.

This post has been edited by BlackPen: Jan 6 2022, 07:26 PM

I’m agree with you. This option might not the best but KWSP did given an option to borrowers to payoff / offset by using account 2. No harm to compare the option to opt the best option. Some borrowers might think it’s worth? Who knows? Might have different opinions worth to discuss for?

This post has been edited by BlackPen: Jan 6 2022, 07:29 PM