Why PTPTN Loan Interest Rate Still 3% ?


I think I should feel proud at this moment because I always keep on paying back the PTPTN loan. Compare to many other borrowers, most of them will defy the loans even they have money to payback. And, in the end, they may receive the warning letter then only start to pay.

Why PTPTN Still Charge Me 3% Interest Rate But Not 1% ?

I had been taking PTPTN loan for my Diploma, which is a total of RM10, 000. Based on the first agreement that I signed, the interest rate was around 3%. However, our Prime Minister announced that the interest rate of PTPTN would be reduced to 1% since 1st of January 2008, and clarified that this will apply to ALL students.

However, I really don’t have any idea why PTPTN website never update the latest interest rate which is 1% in their loan repayment section, although the new interest rate took effect more than 1 year ago?

So, do you think what should I do since PTPTN still charge me 3% of admin fee? Just wonder how can the new rate effective since June 2008 but yet to be implemented in October 2009.

I had tried to send PTPTN an email and the officer saying that the conversion from 3% to 1% is still in progress.


Seriously, I really do not have patient waiting for the conversion as I have to plan to allocate money for my future. 3% interest fee might be a small interest rate, but for an RM10k loan, it can be a huge amount when you do the calculation properly. How suck was the PTPTN loan!!!

Suggestion to PTPTN: Offer Discount For People Who Pay On Time

I have an idea to PTPTN that they should give some discounts to people who pay quick or timely to encourage more borrowers. Do you think it is workable? Perhaps the cost of giving those discounts is much smaller compared to having large number of borrowers refuses to pay back. Am I right?

16 thoughts on “Why PTPTN Loan Interest Rate Still 3% ?”

  1. malaysia alot of thing also double standard one….for example the broadband offered by telcos…at first the price is sky high….then when the price fell, the earlier subscribers can’t get any benefit from that….don’t get upset…n hope more people vote for opposition next GE.

  2. I know you feel that way….but that is the problem with most scholarship/education loan in Malaysia…the sponsor can change what is written in the contract at any time without informing you first…even if the change would be unfavourable to you.

    In this instance, you signed the contract stating that admin fee is 3%. And until PTPTN issue statement that they’re changing past contract. It would stay that way and only new loaners get 1% rate.

    But let’s say they want to increase the rate to 5%, I’m sure they will change the clause to say 5% immediately.

    This is the way of education loan. Very unfavourable to students. Sometimes I feel expensive tertiary education is just some propaganda to give profit to some people other than the students….:D

  3. Ptptn need profit from lending the money to the student. Thier expenses just maintaining the borrower account and some others like worker salary. Just imagine how much profit that they can earn from the 3% administration charges since their capital is from the government. Look likes upper level people in “there” playing with profit strategy although the govn has change the rate.

  4. I am also having the same problem and the PTPTN officer is not helping. In order to solve the problem, I have contacted my local assemblywomen and they are raising the issue to the relevant party. However, they wish to summit a memorandum up to the minister’s office and thus requiring signature of loan holders like us. The more people sign the memorandum, the better it is.

  5. Hi, I am currently starting to pay back my PTPTN loan. I realized that my interest is not 1% as mentioned so I had went to the PTPTN office to clarify the situation. The officer told me they had yet to change the interest rate but it is still in the progress, even after a year! So, I had raise this issue to my local assemblywomen recently and they wish to identify loan holders that have yet receive the 1% administration charge from PTPTN. They plan to send a memorandum to the minister’s office thus the more people the better. Please email your contact details should you have not receive your 1% interest to:
    edwardling@gmail.com or
    hannahyeoh@dapsj.com or

  6. me also face the same problem…..i write to the person in charge of ptptn,she said there are many contracts hav to renew,our contract to change to the new interest rate to 1% still in process.oh….my god….i m wonder how many people working in ptptn office???? why need a few years to do this…..

  7. i just checked my balance. they still charging me 3% even after 2 years. i think this PTPTN are using sucks system. what’s the big problem by changing the 3% to 1%?
    just change it from their code level and that’s done.
    now if i pay, i don’t if they still calculate based on the 1% or 3%.
    anyone got any idea?

  8. I borrowed RM66k from PTPTN loan. I had got a job with RM2.3k(havent deduct 11% for EPF)
    How should I plan my financial?
    I will be starting my work in 1.5 months time..

  9. hallo,i am having some difficulty on returning back the money using cimbclick,there is a column that asking me to key in the No.Surat Tawaran.but so far i still havent receive any letter from ptptn,and i had check on the website and saying that those who pay back ptptn in 6months after graduation won’t be charges for any interest,is it true?
    and where can i get the “No.Surat Tawaran”?

  10. to jackson:

    “No Surat Tawaran” is the last 4 digit number that’ve been printed in your offer letter. (The 1st letter from ptptn to confirm that you’ve officially accept the contract.)i guess if you lost the number, you can call ptptn to ask them to retrieve it for you… and yes, there’s no interest if u pay back the loan in 6 month after your gradution. My interest rate is still 3% but i still keep paying back the loan because the interest keep mounting (dunno how long to wait for the interest rate to be reduced)

  11. Jackson, if you don’t have any letter from PTPTN then it’s best to call them and get your no surat tawaran.
    And it’s true that you don’t have to pay the loan for the first 6 months after your graduation.

    I did call them few times to check out about the interest reduction but all the staff seems to be telling me the same thing – that i have to wait for a letter from them. I’ve been paying my loan for past 2 years and it’s still 3% interest. I don’t understand why they don’t invest some money on technology to get things done! It’s so annoying when you call them to check your outstanding balance and they have to get a calculator to sum up the amount you have already paid! Damn!

    It’s almost 2011 and yet i have not heard anything about the new agreement that they should have sent me long time ago!

    3% might look small to some but definitely not for fresh graduates like us!

  12. Tanya, i agree what you said…
    Is it we only key in the last 4 digit number for the No. Surat Tawaran? Actually No. Surat Tawaran is PTPTN/……Thanks for sharing…

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