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

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leekk8
post Dec 28 2007, 11:01 AM

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PTPTN will start counting the interest 6 months after you graduate without informing you.

The interest is correct, 38k*3%=RM1140 a year. So, every month your interest is 1140/12=RM95. If you didnt pay for it, the interest will be higher and higher. 3% interest rate is the lowest rate in loan industry, what you expect? Imagine you have 38k debt with credit card, your interest every month will be 38k*1.5%=RM570. RM570 EVERY MONTH!!!

If you pay back RM20k one shot, definitely will reduce your interest. For example, total debt you have now is 40k. Pay back 20k, outstanding is 20k. So, 20k*3%=600. 600/12=50. Your monthly interest will be RM50.

Anyway, for me, I prefer to pay the minimum amount, as the interest rate is really low. I can save more money to invest in unit trust and share. This investment can give me average annual return 10%. I gain 7% from it after deduct the interest charged by PTPTN.
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
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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.
leekk8
post Jan 15 2008, 11:04 AM

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QUOTE(Aeon_Clock @ Jan 14 2008, 03:04 PM)
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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No, the interest is not stagnant. If you pay every month, the interest is different every month.
leekk8
post Jan 17 2008, 11:43 AM

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QUOTE(l3iTi @ Jan 17 2008, 10:01 AM)
Do you guys know what is the official mail to make complain bout PTPTN??
Last 10 of Jan, i mailed to 'webmaster@ptptn.gov.my' but still din receive any reply from them....

I've compare my statement wif my frens' statement...

Here's the scenario: Me, A & B (same amount of loan)
Me = Pay b4 loan start count
A = Never Pay b4
B = Pay after the loan start count

Conclusion i get is:
My total interest is the highest and B is the lowest.
A has the constant interest.
B total interest slightly lower than A ( This situation theorectically correct)
Mine is totally unacceptable, interest is constant even though i paid b4 interest start count, and my interest is higher than A or B rclxub.gif
*
I think is penyata@ptptn.gov.my. You can check their website...webmaster is to complain about their website only.
leekk8
post Jan 18 2008, 11:02 AM

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QUOTE(QiQio @ Jan 17 2008, 10:44 PM)
My college lecturer is still paying off her PTPTN loan...now her age is going for 40 mark line...
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Hehe...I plan to pay the PTPTN until Im aged 60... biggrin.gif
leekk8
post Jan 21 2008, 10:45 AM

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QUOTE(POYOZER @ Jan 19 2008, 04:37 PM)
i pinjam RM31k
but then need to pay back to them about RM40k
what da hell?
their management fees to high for me
sumore PTPTN is under government support
what they charge quite crazy?
when i borrow that time
they never mention i need to pay that high charge
*
You should go and ask about the housing loan, then u will know the interest charged by PTPTN is extremely low.
If you loan to buy a house, the amount you pay back is more than double of the amount you borrow.
PTPTN interest is just 3%, this is extremely low, as your credit card bill interest is 18%.
leekk8
post May 2 2008, 10:53 AM

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QUOTE(chuken123 @ May 1 2008, 11:12 AM)
i have a question
if i borrow 10k during my diploma course, if i further my study to degree , are they start count the interest after i graduate from diploma ?
how i let the know i'm continue my study ?thanks
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I think you need to write to PTPTN and apply for the extend. You can write and tell them you are furthuring your study and they only start charge you interest after you graduate from your degree.

 

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