As part of Budget 2023, PTPTN repayment discounts will again be offered to borrowers. Set to start from 1 November this year, the discount rates are actually higher than the one announced in last year’s Budget.
To further encourage PTPTN borrowers to repay their student loans, Budget 2023 also includes special discounts for PTPTN repayments, broken down by the following:
- 20% discount on outstanding balance if paid in full
- 15% discount on outstanding balance for a single payment of at least 50% of outstanding balance
- 15% discount for salary deductions or direct debit
The discount rate for this year is higher than last year, which were in the range of 10-15%. Regardless, those interested to repay their outstanding PTPTN balance can enjoy the new discounted rate from 1 November this year until 30 April 2023.
The post Budget 2023: PTPTN Repayment Discounts Now Better Than Last Year’s appeared first on RinggitPlus.
