Many students in Malaysia would definitely take a PTPTN loan when they are completing their diploma or degree level of education. After they have graduated, it is time for them to begin the process of repaying the PTPTN loan as early as 12 months from the graduating date. If they are able to start paying earlier, they, fortunately, would not be charged any interest for that time period.
For anyone who does not have any idea on how to start paying back their PTPTN loan, have no worries because there is a particular PTPTN Marketing Executive named Nazirul who has taken the responsibility to explain the simple guides on how to pay back the PTPTN loan and he has posted it on his own Twitter account.
According to the Twitter post, these are the simple guides that every individual that took PTPTN should know:
- You have to know what is the total amount of payment needed for every month.
- Never pay less than the amount that you need to pay monthly.
- The monthly payment stated by PTPTN is inclusive of the 1% ‘ujrah’ and also insurance for the period of 10 to 15 years of payment.
- If you cannot afford the amount of monthly payment, you can apply for restructuring to lower your monthly payment.
- For anyone who proceeds with the restructuring, you may have a low monthly payment but please be reminded that your total amount of loan will increase because of the interest.
- You can pay back your PTPTN loan using auto-debit which you can apply directly from the PTPTN website, at the nearest PTPTN counter, or even using online banking which is the most used method.
- Pay your PTPTN loan consistently for every month.
- Everyone is required to pay their PTPTN exactly 1 year after graduation.
- You can also start paying back even before 1 year after graduation and for this, the amount of payment for each month can be decided by yourself.
- For anyone who grad with a first-class degree, your PTPTN loan can become a scholarship.
With these easy and also convenient PTPTN loan payback methods, there simply isn’t any excuse to be ignorant about your financial responsibility. Always remember that PTPTN is a loan to be repaid no matter what happens and that the money you pay back will greatly help another deserving student in the future.
Other than that, Nazirul also explained the registration for SSPN-i Plus on his Twitter page. He stated that SSPN-i Plus is very suitable for anyone that just started working so that they could have some savings of their own for the future. SSPN-i also is recommended and very suitable for family that have children. They could take this opportunity to secure savings for the future use of their children such as for their education.
SSPN-i also comes with takaful. According to Nazirul, “SSPN-i Plus has a 4% dividend and also takaful that is beneficial for yourself. It is as low as RM30, RM50 and also RM100. Everything is also auto-debit”. One of the benefit of this takaful would be to cover the payer (mother or father that register for the SSPN-i) if anything happens. He reminded that the takaful is not for the children. With this benefit, the payer could claim the income tax for the total amount of RM8000.
How to register for SSPN-i Plus:
It is so easy and takes less than 10 minutes of your time,
- Click the link to the website above.
- Follow the step given on the website.
- Important note, payment must be for 2 months at the time of registration (that are for the current month and also the next month)
Sources: Twitter Naz (PTPTN)