Saturday, September 29, 2012

A simple calculation to show why we shall not pay PTPTN instead 20% discount


PTPTN 20% off?
Will you pay it?
A simple calculation show if we make use of cash to do proper investment instead of a lump sum pay off to government, we are actually earning money, because PTPTN interest is too low! even inflation exceed the rate!

Calculation show by simply get a return of 5% from investment, you are actually can break even on year 12..
6% return and break even on year 9
7% return and break even on year 7
8% return and break even on year 6
9% return and break even on year 5
10% return and break even on year 4

Now thinking back again, will you pay?
Plus we still have a chance which not need to pay, if OPPOSITE PARTY win the coming GE.. hee hee~

11 comments:

Anonymous said...

you need to calculate also the summon & lawyer fee that will be imposed if you didnt settle your ptptn debt..

Kesh said...

Do not worry about that, this is a cute thing in Malaysia. The longer you drag the debt, the better the advantage for you.

And in PTPTN agreement, there is no summon will be imposed, they only can blacklist you.

Anonymous said...

The calculation is not entirely correct. The calculation is based on assumption that you are not going to pay any money to PTPTN at all!

Let make a simple assumption:
1) You currently still own PTPTN for amount of RM30,000.
2) Your loan tenure still left 15 years.
3) PTPTN interest is 3%

Choices Available:
Option A) Pay the PTPTN according to the schedule which is RM193.36/mth for 180 months (15 years)

Option B)Get the 20% discount and settle your PTPTN by paying RM22,400!

Option C) Not paying at all - Some of my friends being blacklisted, they only know when they reach the airport.

So which is a wiser choice? Paying RM22,400 the finish off the loan or paying RM193.36 for 150 months.

The answer is Option B) is the better choice. The reason is if you need to pay RM193.36/mth for 150 months for amount of RM22,400, it interpretes to interest rate of 6.35%/annum!

So, do you still think the 20% interest is not good enough?

Tatagal, lyn net

Anonymous said...

A minor mistake spotted.

* the total amount should be RM28,000 instead of RM30,000.

Tatagl, lyn net

Anonymous said...

I have posted my comments here:
http://forum.lowyat.net/topic/2580953

Tatagal

Kesh said...

Hi Tatagal,

Thanks for your comment, but by the way, how you get 6.35% per annum?

I wish to learn the calculation also.. :)

Maybe we should consider the depreciation of the money as well if we pay the loan by installment. We all know the future RM193.36 is not worth current RM193.36 anymore, maybe just half of it or quarter of it only.

Then the calculation will become very complicated. Maybe it is a good exercise for us to have some brain storming. :p

So as a conclusion, I'm still thinking we should pay minimum according to PTPTN's requirement and use smart of the money to park at somewhere else. Unless you cannot find the right place to park.

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