Hi guys. If you are weighted down by commitments and can’t just afford to pay up your PTPTN, i would suggest that you can use your EPF second account to pay it back. Calling for Malaysians only. We are so burdened with so many things and sometimes using credit card just comes in handy to solve all these problems. Take for me as an example. I am the only child in the family. My commitments to you readers should be low as per judged. But NO! I have a car to pay, PTPTN(educational loans), tithes (god’s money if you are a Christian ),housing rental, parents, phone bills,internet bills, insurance and other miscellaneous. SO looking as per above, dare you say only child are always pampered and have no responsibilities. MY TOES. Like seriously. We have the most commitments and have no one to share it with. And it actually depends on your individual upbringing.
PSS: I am not yet attached. So imagine that.
Back to PTPTN. So as i was saying, i hate to use credit card to pay . I chose an alternative way to pay which was my EPF. I did it like this. I am now currently paying every month like a RM300 plus for repayment. What i did was, i went to the ptptn office in Johor town and got an official letter from them saying that i could withdraw my EPF for repayment for a year of duration.It depends on how much u owe and how much u can withdraw to pay it. They wouldn’t allow you to take the money personally from epf and use it for other payments. The money only can be used to pay back ptptn.Only they(EPF department) can transfer the money directly to ptptn.
They gave me the letter and all i needed to prepare on my side was a copy of my university transcript,identification card and certificate upon graduation. Just bring this 3 documents, both original and the copies. Head to the KWSP office which is the EPF office, choose “PENGELUARAN” which means withdrawal in English then , they will process the application within minutes. They will just need you to fill in a form and require your thumb print at the forms needed. The officer told me they will need about 3 working weeks to process and the money will be banked in straight to PTPTN to pay up . You will just need to calculate how much you would want to withdraw or could afford to take out from the second account. For example, i wanted to pay for a year (RM300 X 12 months = RM3600) so i just take that amount out and pay. Now for a year i need not worry about monthly repayment.
Imagine if you pay through Cimb or any banks lah. Your would need to pay the service charge just to bank in money to ptptn every month. Why pay like that when you could save up a lot from there right?
Any information needed just ring them up.
Below are the additional information from KWSP.
Telephone number: 03-89226000
Fax number: 03-89226222 (Fax cover note)
Monday to Friday: 8.00 am to 6.00 pm.
Closed on Saturdays, Sundays and Federal and Selangor Public Holidays.