If you’ve yet to make repayments on your PTPTN, this news is for you because PTPTN repayment discounts will be offered to borrowers once again!
During the Budget 2023, Finance Minister Tengku Seri Zafrul Abdul Aziz said the discount for repayments is set to begin from November 1, 2022 to April 30, 2023.
Here's the breakdown of the repayment discounts:
- 20% discount on the outstanding balance if paid in full
- 15% discount on outstanding balance for a single payment of at least 50% of the outstanding balance
- 15% discount for salary deductions or direct debit
"This is to facilitate repayment, and the discount for repayments will begin from Nov 1 until April 30 next year," he said when tabling the 2023 Budget last Friday.
Meanwhile, borrowers who graduate with a first-class degree would be exempted from repaying their loans.
The Budget 2023 was tabled by Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz last Friday October 7, 2022 at Parliament.
With an allocation of RM372.3 billion - higher than the previous year’s of RM332 billion, Budget 2023 is expected to boost the welfare of Keluarga Malaysia, the country’s economic recovery and socio-economic development.
The theme for Budget 2023 is “Strengthening Recovery, Facilitating Reforms Towards Sustainable Socio-Economic Resilience of Keluarga Malaysia”.