Borrowers who pay off their PTPTN loans in one lump sum will receive a 15% discount!
According to Budget 2022, borrowers who pay off their PTPTN higher education loans in one lump sum will receive a 15% discount, borrowers who pay off at least 50% of their loans will receive a 12% discount, and borrowers who pay off their loans through monthly payroll deduction or automatic deduction will receive a 10% discount.
Whether you want to pay off your PTPTN in one lump sum, pay at least 50% of your PTPTN, or have your accounts automatically deducted each month, you can do it directly online without having to visit a PTPTN counter. The offer is available until April 30, 2022.
To find out how much you still owe on your PTPTN school loan, you can visit https://www.ptptn.gov.my/semakanpinjaman/. You can check how much PTPTN you owe by entering your ID number and password.
If you want to find out how much of a discount you can get for paying off your PTPTN in one payment or paying at least 50% of your PTPTN. You can visit https://www.ptptn.gov.my//Utama.
1. Paying off your PTPTN in one lump sum
If you choose to pay off your PTPTN loan in one go, you will receive a 15% discount. For example, if you owe RM10,000, you will only have to pay RM8,500, which means you can save RM1,500.
2. Pay at least 50% of your student loan
If you choose to pay at least 50% of your student loan, you can enjoy a 12% discount. For example, if you owe RM10,000 on your student loan and you choose to pay 55% or RM5,500, this means you will get a discount of RM660. After getting the discount, you will still have RM3,840 left for your student loan. 3.
3. Monthly Payroll Deduction or Automatic Debit
If you choose to pay your PTPTN student loan by monthly payroll deduction or automatic debit, you will be entitled to a 10% discount. For example, if you pay RM500 in this month, you will get a discount of RM50 at the end of the month.
