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Implementation of PTPTN Loan Repayment Discount Incentives

The presentation of the Budget 2024, themed "Reformasi Ekonomi, Memperkasa Rakyat" by the Most Honorable Dato' Seri Anwar bin Ibrahim, Prime Minister and Minister of Finance of Malaysia on 13 October 2023 (Friday), also provided benefits to borrowers of The National Higher Education Fund Corporation (PTPTN) through loan repayment discount incentives.

The provision of incentives for PTPTN loan repayment discounts begins on 14 October 2023 until 31 March 2024 It includes three (3) categories as follows :

i) A 10 percent discount on the outstanding balance for full loan settlements;
ii) A 10 percent discount on payments of at least 50 percent of the outstanding balance in a single payment; and
iii) A 15 percent discount for payments through salary deductions or scheduled direct debits.

All borrowers, including those subjected to enforcement actions, are eligible to enjoy this incentive. Borrowers who wish to settle their full loan or make a payment of at least 50 percent of the total loan balance in a single payment must apply for loan balance confirmation through the PTPTN official portal at www.ptptn.gov.my, the myPTPTN app, or by contacting PTPTN Marketing Executives before making repayments through the provided payment channels.

Borrowers who are currently making payments through salary deductions or (direct debit) are automatically eligible for the 15 percent discount, subject to PTPTN receiving payments within the discount period. Borrowers who wish to set up salary deductions or (direct debit) must submit an application through the PTPTN official portal or the myPTPTN app. Borrowers have the option to choose one or both of these channels to enjoy this incentive.

Furthermore, borrowers can check the discounts provided in their loan statements starting from the seventh (7th) day of the following month through the PTPTN official portal or the myPTPTN app.

"PTPTN extends its gratitude to the Government for providing incentives in the form of loan repayment discounts for PTPTN borrowers, benefiting approximately 1.7 million borrowers who are due for repayment. This reflects the Government's concern to prioritize the welfare of borrowers and ensure the sustainability of PTPTN's funds for future generations' financing. We hope that PTPTN borrowers will take this opportunity to make repayments and enjoy the discounts provided by the Government." -- YBrs. Mr. Ahmad Dasuki Abdul Majid, Chief Executive of PTPTN

For any further questions, borrowers can get information through the column Budget 2024 FAQs on the PTPTN official portal. Borrowers can also contact PTPTN through the following channels :

 

FAQs, CLICK HERE

Verification of Loan Debt Balance, CLICK HERE

Media Broadcast, CLICK HERE

More Information on PTPTN Discounts, CLICK HERE