As you may know, Budget 2024 was announced earlier this month. Part of it included an announcement about discounts for PTPTN loan repayment. Well, the specifics behind that were confirmed yesterday.
According to The Star, there will be three discount categories for PTPTN loan holders. The first is a 10% discount for full loan settlement (100%). This 10% discount also applies to those who can repay at least 50% of the loan amount in one payment. You can also repay via salary deduction or scheduled direct debits and enjoy a 15% discount.
Of course, loan holders need to go through a few procedures to get the discount. For option 1 and option 2, you must first apply for a loan balance confirmation. This can be done through the PTPTN website, myPTPTN app, or by contacting a PTPTN marketing executive. Malaysians planning to repay by salary deduction or direct debit must apply using the same platforms. Once the application is approved, the 15% discount will automatically be applied to the borrower's loan. These discount offers are valid till 31 March 2024.
Before you go ahead, there are a few things you'll need to take note of. First, the 10% discount might seem less than 15%. But the first two options could be better if you can afford it. The 15% discount would be better for Malaysians who don't have that much lump sum to repay the loan. However, you'll be paying more in the long term.
As you can see, which option is better depends on your situation. Having said that, are these PTPTN discounts what you were hoping for? Let us know in the comments and stay tuned to TechNave for more news like this.
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