There are a number of perceptions when it comes to paying off PTPTN loans. Most Malaysians would prefer to get it out of the way by using their KWSP funds. However, it seems that a financial advisor on Twitter is telling everyone the contrary. Apparently, the interest rates for both may differ depending on what type of loan the student received.
PTPTN loan being paid off by KWSP returns?
A financial advisor is informing his audience on Twitter that it is better off to pay their PTPTN loan with the money they have. This is due to the fact that KWSP has a 5% profit rate, and the interest rate for the student loan is only 1%. Another user claims that they sold their investments in 2018 in order to pay off their student loan, only to find out they lost a lot of money because of that.
However, others are stating that it is better to pay off debts as soon as possible. For some, the interest rates for the student loan is higher than 1%, as it can reach up to 3%. Regardless, when it comes to an individual’s finances, it is best to calculate which route is the more profitable option in the long run.
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