Just got the news today. According to the news, starting from 1st June 2009, 1% interest plan will be activated. To make the story short,
1. If every month we need to pay RM90 for 1st year, until end of May we need to pay RM90x5 = RM450 to be eligible to get the 1% interest. The sum should be pay before end of May, to be save.
2. According to news, PTPTN will send new agreement out for us to sign whether we want the new 1% or maintain the old 3% interest. PTPTN only gives us 1 month that is whole June for us to send back the agreement. Fail to do so will maintain to pay 3%. But I'm not sure whether they will send out automatically or we call them only send. Coz I got email from Karen stating we need to call in order for them to send out the email.
3. Starting from 1st June, 1% will be multiply to outstanding balance you have. For example,
outstanding balance pay until end of May, 20k will be, 20k x 1%, means no matter how much your had paid, u will only get new 1% for the balance starts from June.
4. For those who never pay PTPTN at any amount since 1st June 2008 until end of May 2009, will be charge 1% based on the outstanding balance 1st before charging you 1%. For example,
outstanding balance, 20k never pay before will be punished, 1% means 20k x 1% = 10200. Means when charge will be change 10200 x 1%.
Correct me if I am wrong. Please help me forward the news to all your friends who borrowed PTPTN.
I will attach the new articles soon.
P/s: I heard some news which I don't know is it real or not.
1. we can actually claim extra payment for the interest
2. This plan only for student July 2009 intake.
But to clarify better call PTPTN to be sure. I also don't know.
Time written: 5:06pm on 25th May 2009
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