Bank Islam Malaysia Berhad (BIMB or Bank) launched Pay & Win with DD (DirectDebit) in collaboration with The National Higher Education Fund Corporation (PTPTN) and Payments Network Sdn. Bhd.
This campaign is held as one of the efforts to appreciate PTPTN committed borrowers in paying back education loans consistently through DirectDebit as well as welcoming government action in Budget 2022 that gives a discount incentive of 10% to PTPTN borrowers.
Pay & Win with DD Campaign offers a cash reward in the form of repayment or Simpan SSPN Prime savings through draws to the winners.
The launching of this campaign is officiated by the Chief Executive Officer of BIMB Group, Mohd Muazzam Mohamed and the Chief Executive of PTPTN, Ahmad Dasuki Abdul Majid.
Pay & Win with DD Campaign is open to all PTPTN’s borrowers who make loan repayment through DirectDebit. The campaign period is three (3) months starting from 1 December 2021 until 28 February 2022 and continue until 30 April 2022.
To be qualified for the draw, new and existing DirectDebit customers are as follows:
| New Customers | Existing Customers | |
|---|---|---|
| Qualification for the Draw | One (1) draw qualification for successful DirectDebit new registration through e-mandate within campaign period | One (1) draw qualification for every successful DirectDebit within campaign period |
This campaign, unlike the previous, offers lucrative prizes of RM50,000 for 41 winners. The first winner will receive a cash reward of RM10,000, while consolation prizes for 40 winners, by which each will receive RM1,000. This is subjected to the stipulated terms and conditions.
The prizes will be credited to the winners’ account as a part of PTPTN’s education loan repayment. This indirectly helps repay their loans. However, if the balance of the winner’s loan is less than the prizes received, the surplus from the prizes will be credited to their Simpan SSPN account as savings.
Chief Executive Officer of BIMB Group, Mohd Muazzam Mohamed said that the collaboration between BIMB and PTPTN has been going for a long time, especially in managing loans to students in Higher Education Institutions (HEI).
“The result of this cooperation is further strengthen with strategic collaboration, with the execution of PTPTN’s loans repayment through DirectDebit in 2016 and the launch of PTPTN Bank Islam Visa Debit-i card in 2018/ The introduction of debit card aims to expand the agenda of cashless society among PTPTN customers. To date, a total of 94,131 debit cards have been issued, even this figure exceeds our initial target of 50,000 cards a year after its launch,” he said.
He added, “The collaboration between Bank Islam, PTPTN, and PayNet through this campaign is proof of the commitment and earnestness of all three parties in ensuring borrowers can repay their education funds faster, easier and safer online.”
Meanwhile, PTPTN Chief Executive, Encik Ahmad Dasuki Abdul Majid, said “Borrowers who participate in this campaign also enjoy a 10% discount based on successful DirectDebit deduction and received by PTPTN within the discount period. It’s easy to participate in this campaign, for borrowers that have yet to make a DirectDebit application, you only have to make the application through PTPTN’s official portal.”
“PTPTN is always committed in planning and organizing strategy, as well as programs that help the increase of awareness in borrowers to make repayment. In the midst of Covid-19 new norms that have yet to come to rest, cashless facilities are always PTPTN’s priority to facilitate borrowers to make repayment without having to be present at PTPTN’s counter.”
Therefore, every borrower must use DirectDebit accordingly to ensure loan repayments are made consistently. Through these facilities, borrowers can put their loan repayments in check and to avoid late payment. This, at once, helps increase the fund for new students’ loans.” he added.
For terms and conditions, click here.
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