Sheu Quen
Content writer with a penchant for perfection in her work and can't stand having her name misspelled or mispronounced.
PTPTN Repayment Discounts Return, Up To 15% Discount For Loan Repayments
Sheu Quen
29th October 2021 - 1 min read
Finance Minister Tengku Zafrul Tengku Abdul Aziz has announced that under Budget 2022, the PTPTN repayment discounts will be reintroduced, offering up to 15% discounts for borrowers.
The PTPTN repayment discount was designed to incentivise borrowers to repay their PTPTN education loans, but was no longer offered since 2019. Under the new PTPTN repayment discount, borrowers can enjoy the following:
- 15% discount if they fully pay off their loan balance,
- 12% discount if they settle 50% of their loan balance in one payment, or
- 10% discount if they repay via salary deduction or auto debit.
The new PTPTN repayment discounts tabled in Budget 2022 will come into effect on 1 November 2021 until 30 April 2022.
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