Many of us need to be made aware that there is an alternative repayment method for PTPTN loans, which is using the Employees Provident Fund (EPF) Account 2.
What does EPF withdrawal for PTPTN loan repayment mean?
EPF allows contributors or their family members to withdraw funds from their EPF Account 2 to repay their PTPTN education loan. This application can be made online through e-Withdrawal on the EPF official website.
Advantages of repaying PTPTN loan via EPF
- Borrowers can use savings from their own or their spouse's (husband/ wife), children's, and/ or parents' EPF Account 2 (subject to withdrawal conditions).
- There is no withdrawal limit; borrowers can pay off any outstanding amount, a portion of the loan or the entire balance of their PTPTN education loan.
- Can make withdrawals more than once, as long as there is a balance in Account 2.
- No processing fees.
- Enjoy savings on service fees and shorten the repayment period.
- Even if borrowers have already repaid their PTPTN loan through salary deductions or direct debit, repayment via EPF is still allowed.
- No supporting documents are required for subsequent withdrawals.
Sounds good, isn't it?
Start repaying your loan now!
Paying back PTPTN loan is easier with a withdrawal from EPF Account II
How to repay the PTPTN loan via EPF withdrawal
Borrowers can apply for repayment of their PTPTN education loan through their i-Account KWSP. Here are six (6) steps to make the application :
Step 1: Log in to i-Account KWSP:
- Enter the User ID and click Log In now
- Enter the Password and click Continue
Step 2: Education Withdrawal Application:
- Click Withdrawal
- Click Education
- Click iconWithdraw Savings’
- Follow the Application Checklist and Click Okey
- Select Relationship EPF Member with PTPTN Borrower
- Enter Student Reference Number (Check in myPTPTN)
- Click Continue
Step 3: Complete Study Details & Payment Amount:
- Select Level of Study
- Select the institution involved booth and click Continue
- Enter the withdrawal amount and click Continue
Langkah 4: Pengesahan Butiran Pengeluaran
- Review and confirm Contact Information, Study Information & Withdrawal Information
- Click Continue
- Click Accept on Withdrawal Declaration
Step 5: Transaction Confirmation
- Enter the TAC number (via SMS)
- Click Continue
- Completed (a message confirming that the withdrawal has been successfully submitted will be displayed)
- The application status will be sent via SMS and the Security Message inbox in your KWSP i-Akaun.
(For First-Time Applications Only)
Step 6: Fingerprint Verification at the EPF Office
- Receive SMS from EPF (within 3–5 working days)
- Hadir ke Pejabat Cawangan KWSP dengan membawa bersama dokumen sokongan mengikut tempoh yang ditetapkan untuk proses pengesanan Cap Ibu Jari
Completed applications received by PTPTN will be processed within 7 to 14 working days.
Further Inquiries
If you have any questions, please contact the PTPTN Careline at 03-21933000 or the EPF Customer Service at 03-89226000 for further assistance.
We hope this information is helpful and can assist you in settling your PTPTN education loan repayment. In addition, it helps future generations to continue their higher education with ease.
