HOW TO REPAY YOUR PTPTN DEBT

It is never too late to pay up on your previous education debt. Nonetheless, it is better to do some early planning for your saving scheme even before you graduate just for a head start. Stated below are some of the steps that you can try out if you are a clueless beginner:

Assign for automatic payroll deduction: Simply said, registering for the auto deduction system will be beneficial for those who regularly forgot to pay on time or is not good at dividing their own salary. By using this method, your PTPTN debt can slowly recover since your payment will be put on autopilot. To apply for this scheme, open up PTPTN website and follow on the steps provided. Besides that, you can personally go to their nearest branch and bring along your salary slip with you for offline entry. After registering, PTPTN will give your employer appropriate charges that can be deducted from your salary and a loan statement update should be available for you to view on.

Withdraw funds from the Employee's Provident Fund (EPF): As everyone knows, there are two separate EPF accounts that serve different proper purposes. For the graduates who have started working, you will usually apply with EPF welfare. Account 2 EPF can be utilized to pay off your PTPTN debt because in their terms that it can be used for educational motive. By using this method, the advantages you can achieve is as long as you have balance in the account, there will be no withdrawal limit. Not only that, there will be no processing fees as well and you can enjoy wage/administrative cost savings with a shorter repayment period. Moreover, the borrower or parents may use two EPF accounts according to the individual's inclination.

Amanah Saham Bumiputera (ASB) saving account: Typically, the ASB account is registered by each parent for their child since they are in elementary school already. As the child grows older, they can carry on with the investment and it requires a strong saving spirit among the graduates to successfully venture to it. Annually, the dividends earned from this funding are rather substantial and it can be applied to lessen a whole lot of the PTPTN burden that you are facing right now. If you are consistent enough with the interest payment to PTPTN and combine it with the ASB gain that have been stashed away for months, it would not be impossible for you to complete the bill in less than five years.

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The faster you resolve your liability, the closer you get to achieve serenity!