Question 2:
What is administrative cost?

Answer:
Administrative cost is the cost charged on loans as specified in the signed agreement. The administrative cost will be calculated 6 months after completion of studies or termination of loan, whichever is earlier. An annual rate of 4% will be imposed for the repayment period up to 31 December 2003. From 1 January 2004, the rate was reduced to 3% and is calculated on the balance of the monthly loan. This cost cannot be reduced.

Question 3:
Will PTPTN issue an official receipt for loan repayment?

Answer:
PTPTN will issue an official receipt only for repayment made directly to PTPTN, e.g. at the PTPTN counter, by post (cheque, bank draft, money order and postal order) made payable to PTPTN. For payments via PTPTN collection agents like the IRB, Maybank (online), BCBB (online and counter), Bank Islam (online and counter) and RHB (online), no receipt will be issued. The IRB will issue a receipt for payment made directly to it (besides salary deduction).

Question 4:
How can I check my loan balance?

Answer:
Loan balance can be checked via e-Statement in the PTPTN Portal.

Question 5:
How can online payment be made?

Answer:
Please refer to the websites of the relevant banks and forward any queries to the Customer Service Division of the banks.

Question 6:
How is repayment made through deduction of salary?

Answer:
Please provide details about your employer, i.e. name, address and telephone number to the Enforcement and Collection Division by e-mail (upkb@ptptn.gov.my) or official letter. You will receive a copy of the salary deduction instructions from the IRB to your employer. It will take the IRB 1-3 months to implement repayment by salary deduction. Meanwhile, you can make your own repayment using other methods to avoid instalment arrears.

Question 7:
Can I pay back more than the original instalment amount?

Answer:
Yes, this is allowed. If the borrower settles the loan earlier, a rebate will be given.

Question 8:
Can I pay less than the original instalment amount?

Answer:
This is not encouraged because the administrative cost will rise as this is calculated based on the remaining monthly balance.

Question 9:
Must I wait for the instructions from PTPTN before commencing loan repayment?

Answer:
The borrower does not have to wait for PTPTN instructions before commencing repayment. Repayment made 6 months after completion of studies or termination of loan will not be charged administrative cost.

Question 10:
Can I settle the monthly instalment earlier, i.e. 6 months before the date of repayment?

Answer:
This is encouraged. Repayment made before the date of commencing repayment will not be charged any administrative cost whereas repayment made after date of paying back will be charged administrative cost.

Question 11:
Can I make a lump sum repayment?

Answer:
Yes. Lump sum repayment made prior to the date of repayment will not be charged any administrative cost. However, lump sum repayment made after the date of repayment will be charged administrative cost. The rebate amount will depend on the date the lump sum settlement is made.

Question 12:
Does PTPTN give rebates to borrowers who settle their loans earlier than the period specified?

Answer:
Yes, rebate will be given to borrowers who settle their loans earlier than the period specified. The amount will depend on the last date of repayment.

Question 13:
When is the last date to settle payment every month?

Answer:
Repayment should be made before the last day of every month.

Question 14:
Can repayment be made periodically like once in 6 months?

Answer:
Yes, repayment can be made periodically on condition it is made in the first month of the term.