Do you feel that PTPTN loan interest charge are enormous?
As far as I know, PTPTN will start counting the interest 6 months after you graduate. For me, they have been charging me almost MYR 25 per month which is 3% interest charged. 3% interest rate is the lowest rate in loan industry, so I prefer to pay minimum amount. Then I can make more money by investing in unit trust and share due to difference in % return.
What action will be taken by government if did not payback PTPTN loan??
You’ll probably get banned from going oversea and unable to get any loan from bank in future. And, it will affect your next generations too.
Did you receive any letters chasing for the repayment? If you got and keep on ignoring those letters, their lawyer will send you one final reminder letter. The compound will be issued after you received the lawyer letter but still refuse to pay.
Interest rate is 3% only. Usually they start charging interest 6 months after graduation. They put it as administrative cost in the statement and they are actually charging it every month, which is depends on the loan balance. If you don’t pay now, the so-called administrative cost will keep on accumulating. So, finishing the payment as soon as possible will be better as it is compounded. Try to think mature; don’t let others immature behaviors affect you.