PTPTN 可能是个骗局。

Recently saw a note posted at facebook, showing the real maths behind the theory of 3% to 1% reduction of PTPTN loan.

After such reading, I am having doubt. I had received the soft copy of the documents and I had not fully understood the term and condition. A lot of phrases that needed to have authorization from the applicant to the PTPTN to access.

As a result of this, I am having doubt on how this reduction of 3% to 1% really worked out to ease the burden of borrower.

The new agreement had a clause that forced the applicant to make payment every month and the PTPTN has the authority to access our bank and KSWP for repayment purpose.

The fact that when they (PTPTN) has the authority to access our banking infos and our other details regarding to the income, they can make charges and legal enforcement to make us pay.

The other unfairness to the applicant is the clause that the PTPTN has the rights to increase the percentage of cost from time to time. This will definitely become a big lost to the applicant if the government suddenly announce something like we're having bankruptcy by the year 2019; and the interest rate of PTPTN shoot up to 3% or more.

The other uncertainties are the PTPTN reserved the rights to block the applicants from leaving the country and they has the authority to force the full payment to be done within some certain period if they found out that the applicants has more than enough money to be spend for travelling oversea but resist to repay PTPTN.

Some details of calculation of the interest before and after reduction were shown by some good Samaritan. Credits to the author.

You can find the link here.