PTPTN Discount 2021 / 2022. PTPTN has introduced a higher education loan up to 15% for repayment discount incentives for students. This program aims to support students with the cost of higher education in Malaysia. The PTPTN program has been effective in reducing high debt levels among graduates and facilitating repayments.
The presentation of the 2022 Budget by YB Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, Minister of Finance Malaysia on 29 October 2021 (Friday) benefited the borrowers of the National Higher Education Fund Corporation (PTPTN) through the provision of loan repayment discount incentives.
PTPTN loan repayment discounts given from 1 November 2021 to 30 April 2022 are as follows:
15% discount on outstanding debt for full settlement of the loan;
12% discount for payment of at least 50 per cent of the outstanding balance in one payment; and
10% discount for repayment through salary deduction or direct debit as per schedule.
The implementation of the refund discount is as follows:
Borrowers who want to make a full settlement of the loan or repayment of at least 50 percent of the debt balance in one payment must obtain confirmation of the debt balance through the official portal of PTPTN at https://www.ptptn.gov.my/PengesahanBakiPenyelersihanHutang/Utama or contact the Marketing Executive PTPTN from 1 November 2021. Subsequently, refunds can be made through any refund channel provided by PTPTN.
Borrowers who wish to make a repayment through salary deduction or direct debit must apply online through:
a) Salary deduction
b) Direct debit
Borrowers who are making loan repayments through salary deduction or direct debit are also eligible for a 10 percent discount subject to the repayment received by PTPTN from 1 November 2021 to 30 April 2022.
The discount incentive will be updated in the borrower’s loan account at the end of each month and the borrower can review their respective statements from seven (7) days of the following month.
15% Repayment Discount On Debt Balance For Full Settlement Of The Loan Debt Balance
1. Who is eligible for this 15% discount?
All PTPTN borrowers (including those who have been subject to enforcement action) who settle the entire loan debt balance from 1 November 2021 to 30 April 2022 are eligible for this incentive.
2. How does the borrower get the entire balance of the loan debt?
Confirmation of loan balance can be obtained through PTPTN’s official portal (https://www.ptptn.gov.my//PengesahanBakiPenyelayaranHutang/Utama) or contact the Marketing Executive (https://www.ptptn.gov.my/hubungan-ptptn).
3. How is the 15%discount calculated?
The calculation of the 15% discount is based on the total balance of the loan debt.
4. When will the 15% discount be given?
A 15% discount will be given at the end of each month. Borrowers can review their loan statements starting 7 days a month in the following month after the 15% discount adjustment is updated.
Review of loan statements can be made through the official portal of PTPTN
(https://www.ptptn.gov.my/semakanpinjaman).
5. When is the Debt Settlement Letter (SPH) issued and how do I get it?
Debt Settlement Letter (SPH) will be issued after 14 (working) days of 15% discount adjustment is done. SPH printouts can also be made online at PTPTN’s official portal (https://www.ptptn.gov.my/pengesahanbakipenyelayaranhutang).
6. Are borrowers eligible to enjoy this incentive if they settle through a combination of various channels such as EPF, bank and online?
Eligible, if the loan debt settlement payment is received by PTPTN in the same month. Borrowers are advised to make payments no later than 27 days of each month.
7. Will payments made through the EPF be refunded if there is a surplus after the discount is given?
Yes, the excess will be returned to the borrower’s EPF Account 2.
8. Is a 15% discount given if the refund is made by the IPT/ sponsor?
Discount is NOT given if the refund is made by the IPT/ sponsor.
9. Are borrowers eligible for a 15% discount if they intend to settle the debt in the last month of the promotion, which is April 2022?
Eligible, provided payment is received on or before April 30, 2022.
10. Are borrowers who ONLY have a Loan Advance (WPP) debt also eligible for a 15%discount?
Worthy. A 15% discount is also given to WPP debt.
11. Are borrowers eligible for a 15% discount if they have more than one loan such as Diploma, Bachelor’s and Master’s degree loans and only want to settle the debt of one of the levels of study only?
Ineligible, 15% discount is only given to the borrower who settles the entire balance of his loan debt i.e. Diploma, Bachelor and Master’s degree loans.
12. The borrower has completed the Diploma level loan and is still continuing the loan for studies at the Degree level. Are borrowers eligible to enjoy a 15% discount if they settle the entire debt for the Diploma level?
Ineligible, a 15% discount is only given to borrowers who settle the entire balance of the loan debt only. Consideration may be given if the loan which is still active is terminated and full settlement is made on the entire loan debt. New loan applications for the same level are not allowed
13. When will CCRIS records be updated after the borrower settles the debt?
CCRIS records will be updated within 7 working days from the date the payment is updated in the PTPTN statement.
14. Are borrowers who have just completed a loan and still do not have a Repayment Schedule (RB) eligible for a 15%discount?
Eligible, subject to refunds received during the period 1 November 2021 to 30 April 2022.
15. Any questions, please contact PTPTN through one of the following methods:
Call Center (Careline) at 03 2193 3000;
ive chat on PTPTN Portal (https://www.ptptn.gov.my);
Marketing Executive (https://www.ptptn.gov.my/hubung-ptptn);
e-AduanPTPTN (https://eaduan.ptptn.gov.my);
Social Media (National Higher Education Fund Corporation)
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