PTPTN 3% to 1%

*long text*

Before I started with all my 'quite ok' translation....i would like to tell you all that this post is all about PTPTN loan thingy. 

I always wanted to lower down the interest loan from 3% to 1%. I start applied online, but failed many times till i gave up. Until one day I received a postcard say that I got the opportunity. I was so enlighten. Online processed and register successfully, however I think still need approval all these and that.(not sure, but I did not know i need to submit quite a number of documents before approved). 

Then when I 'yam cha' with my friend, she told me she heard a lot the negative side bout the 1% loan and ask me to read this agreement before you apply.  Yet, I didn't cause I thought I already get this 1% interest online. Suddenly, a sms for me yesterday at about 11.55pm! remind me to submit the documents before 30 September 2011 (due date on applying). Then this remind me about what my friend told me, and i was relief cause I still have the chance to ignore the application before it is too late. (yea, i rather pay 3% interest *macam so rich, at least i don't have the bond.-read further )

I open and search all the Perjanjian on PTPTN website

With my poor computer format, i think i can't open one of the web of : Panduan Pengguna Kemaskini Maklumat dan Cetak Dokumen Perjanjian Ujrah Secara Atas Talian . 

Never mind, I open the contoh-contoh borang (form sample) with the perjanjian on them. I guess if can post on the official web (here) of the sample, it should be true. I shall make sure all of the said sentences is true (but in short la, I don't know how to use lawyer language, i'm a small peas) sorry if I translate wrongly, as i din use Malay for xxx decade. Then I study like my client claims' policy.. here are some main points for you to refer.

 

1. you get 1% interest charge per annum, or any rate from date to date by them with the effective date taken.
2. They will give you the effective date and the amount in a range of time whereby you have to clear the loan in period given.

  the rate will be like the above

3. if u failed to pay on time, they might 'spread' publish the information via media (TV, newspapers) which they would not take into concern or responsible on these. In short, blacklisted/fined.
4. you MUST pay via auto credit from your LHDN (lembaga Hasil Dalam Negeri)/ monthly basis. yes yes, according how high is your salary, then deduct according to the rate given. Means you could not pay anytime you want.
5. This Agreement shall be binding on the heirs, executors, assigns receiver RECEIVER COST. (googled)
(means if u died *touch wood*, the person to entitle your property must bear all the cost)
6.  if failed to pay so, they will allow u to pay monthly installment by your compensation as calculated 1% per annum until u recovered all their payment.
7. If you could not pay the returns, they will make arrangement with your current boss and discuss deductions from your monthly salary until is fully paid.


and so on....

It is good that PTPTN learned that we all have to pay back the loan.. It is quite reasonable if you are standing on their shoes.
Perhaps with my ability, i still cant manage pay on time, still i promised myself to return if i can,but not in such a way where time is limited. I try my best!
Therefore, kindly please read all the agreements before signature.