Need advice on repaying PTPTN loan, all ur News and Questions on PTPTN
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 Nov 19 2018, 10:16 AM
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#1
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Junior Member
170 posts Joined: Mar 2017  
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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 |
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Nov 19 2018, 03:54 PM
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#2
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Junior Member
170 posts Joined: Mar 2017
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QUOTE(Ancient-XinG- @ Nov 19 2018, 11:01 AM) 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 |
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Nov 19 2018, 03:58 PM
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#3
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Junior Member
170 posts Joined: Mar 2017
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QUOTE(MUM @ Nov 19 2018, 10:49 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.... i save around 8500 in total if i take up 20% discount coz my current balance is 41k |
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Dec 2 2018, 04:26 PM
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#4
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Junior Member
170 posts Joined: Mar 2017
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QUOTE(Ethan @ Nov 30 2018, 09:21 AM) 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. U have put it nicely bro..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. 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 |
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