What is Ujrah in Ptptn?
Most of us (if not all), who took the PTPTN study loan before 2008 and have yet to settle the bill would have received an email or a call from PTPTN by now to convert the 3% conventional service charge for existing loans to the 1% Ujrah (it’s an Islamic term for service charge) payback scheme.
Can I restructure my Ptptn loan?
All you have to do is to head to any PTPTN counter or office near you, and discuss the terms of restructuring the loan in person.
Where do I submit Ptptn form?
Head to PTPTN’s website to apply online: http://www.ptptn.gov.my/gateway. Complete the application form carefully based on the instructions.
How do I upload documents to Ptptn?
#5. What are the steps to apply for a PTPTN loan?
- Step 1: Head on down to the banks to get the following sorted out.
- Step 2: Submit your application online.
- Step 3: Wait for the outcome of your PTPTN application.
- Step 4: Submit supporting documents (hardcopy) to your college / university.
- Step 5: Receive your loan payments.
What happens if I dont pay PTPTN?
So, PTPTN will take stern action against those who refused to pay up despite many reminders and requests to court. Most likely after this, you (the defaulters) will be forced by the court to repay the loans with additional legal fees every year in a consistent manner.
How is PTPTN payment calculated?
The latest PTPTN interest is calculated using a 1% flat interest rate. Let say your loan amounts to RM50,000, payable in 15 years. Using the Personal Loan settlement calculator, you will see that the savings you get for settling your loan in full is actually under 1% per year.
Will PTPTN affect car loan?
Therefore, if you are listed on the report for defaulting on your PTPTN loan, you will have an unhealthy credit and may have difficulties in getting your first credit card, your first car loan, or your first home loan.
What is 1st class honours degree?
First-Class Honours (70% and above): a first class degree, usually referred to as a ‘first’ or 1st, is the highest honours degree you can achieve. Upper Second-Class Honours (60-70%): there are two levels of second class degree. An upper second class, known as a 2:1 or two-one, is the higher of the two levels.
What does it mean to pay Ujrah with PTPTN?
Ujrah basically means “Upah” or pay in English. A more familiar term is “service charge”, so PTPTN is just re-naming the loan payment scheme to seem more Islamic. But I guess that is the idea. To convert the loan payment scheme to a more Islamic method.
Is there a 3% service charge on a PTPTN loan?
For those who took a PTPTN study loan before 2008, you have probably heard of the PTPTN offer to change the 3% service charge for existing loans to the 1% Ujrah payback scheme. But before you register to convert to the Ujrah Payment method at PTPTN’s website , take some time to read what I have to say here.
What does the PTPTN stand for in Malaysia?
What is PTPTN? PTPTN stands for Perbadanan Tabung Pendidikan Tinggi Nasional (or National Higher Education Fund Corporation), and is a government institution that offers study loans specifically for tertiary education for Malaysian students.
Can a PTPTN loan be converted into a scholarship?
PTPTN loan is one of the top choices for students looking for education loans, given its relatively low interest rate. In addition, if you achieve a First Class Honours for your Degree, your loan could be converted into a scholarship, where you will be exempted from paying back the loan! #2. Are you eligible for PTPTN?