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