On Jun. 5, MLY PTPTN launched campaign on restructuring of loans.
MLY PTPTN introduced Restructuring your loan campaign for as low as MYR 300, to encourage borrowers with outstanding payments to start repaying their loans.
Document dated Jun. 1, 2024, received from PTPTN Jun. 5, summarized Jun. 10.
Aims to assist borrowers in managing finances better, ensuring smooth repayment.
Borrowers need to make minimum payment of MYR 300 to restructure their education loans, with the flexibility to adjust monthly installments based on financial capabilities.
Eligible PTPTN education loans include not only conventional but also Ujrah loans.
During negotiations, borrowers must agree to have deductions from salaries or direct debits; the campaign offers benefits like reducing balances, improving credit records.
PTPTN is available to assist borrowers in managing finances better through campaign.
Effectiveness
The campaign is effective from Jun. 1, 2024, to Jul. 31, 2024.
Jul. 2024 Campaign Extension
On Jul. 31, 2024, MLY PTPTN announced the extension of the campaign by two additional months until Sep. 30, 2024, in light of favorable responses from borrowers.
Eligible borrowers must make an arrears payment of at least MYR 300 only for loan restructuring, make a salary deduction or direct debit as a method of repayment.
MLY PTPTN provided information on the procedure for online negotiation application.
