Tips and tricks

What is Ujrah in Ptptn?

What is Ujrah in Ptptn?

PTPTN have introduced Ujrah, a loan conversion scheme meant to encourage ex-students to clear off their debts faster and with less interest.

What does Ujrah mean?

Ujrah basically means “Upah” or pay in English. A more familiar term is “service charge”, so PTPTN is just re-naming the loan payment scheme to seem more Islamic.

How do I check my Ptptn payment?

a) Via PTPTN’s website For a quick and seamless payment, you can head over to PTPTN’s portal where you can check your loan amount and make your payment via Financial Process Exchange (FPX).

How can I know my Ptptn account number?

Call to PTPTN hotline Call the PTPTN hotline, 03 2193 3000. You will be directed to a PTPTN careline consultant. Inform the careline consultant, you wish to have your pin number or nombor pinjaman. The careline consultant will ask some questions for verification.

How much should I pay for PTPTN per month?

PTPTN loans have a low-interest rate of 1% which can be easily paid back in small amounts after you graduate. For example, PTPTN requires you to pay RM40 month if you’re a fresh graduate earning RM2,000. You can comfortably pay the loan back once you get your first job without relying on your family.

Does PTPTN affect credit score?

If a borrower is prompt in their payments, the PTPTN student loan will actually improve the borrower’s credit report as lenders will see the borrower as a responsible credit user.

What is PTPTN interest rate?

The PTPTN loan interest rate is 1.0%. 6. Conversion to Scholarship. The loan can be converted to scholarship for students who attained First Class Honours. The programme must have received a full accreditation status at the time the scholarship application is made to PTPTN.

What is Ujrah payment?

In Islamic finance, a generic term for a fee, especially one charged for a service.

How much should I pay PTPTN monthly?

1. Restructuring your loan

PTPTN Personal loan
Principle amount RM32,000 RM3,000
Interest rate 1% p.a 10% p.a
Tenure 108 months 60 months
Monthly payments RM322.97 RM63.74

How do I know if my PTPTN is blacklisted?

How to check if you are on the PTPTN blacklist?

  1. From the Immigration Department Portal.
  2. From the official PTPTN website.
  3. Call PTPTN Careline.
  4. Visit the PTPTN office or Immigration Department office.

Should I pay off PTPTN early?

Therefore, if you can afford it, you should definitely consider paying off your PTPTN loan early. This way, you can have less to worry about and have more resources to focus on other financial commitments like such as buying your first home or starting a family.

How do I get PTPTN discount 2021?

Borrowers who want to make a full settlement of the loan or repayment of at least 50 percent of the debt balance in one payment must obtain confirmation of the debt balance through the official portal of PTPTN at or contact the Marketing Executive PTPTN …

What happens if I dont pay back PTPTN?

So, PTPTN will take stern action against those who refused to pay up despite many reminders and requests to court. Most likely after this, you (the defaulters) will be forced by the court to repay the loans with additional legal fees every year in a consistent manner.

How much should I pay for PTPTN?

Should I pay off my Ptptn?

You should make regular repayments towards your PTPTN loan to keep your credit report on CCRIS healthy. If you are facing difficulty in managing the debt and repaying the loan, you can also reach out to PTPTN to restructure your loan repayment schedule.

What happen if I never pay PTPTN?

What happens if I dont pay Ptptn?

What is tawarruq financing?

Tawarruq is a financing arrangement where customer will be receiving cash at the end of it for his needs through a series of sale transactions. How Tawarruq is done? The bank will purchase commodities from a supplier (first sale) and sells them to customer (second sale).

How do I get 15% discount on PTPTN?

1. Who is eligible for this 15% discount? All PTPTN borrowers (including those who have been subject to enforcement action) who settle the entire loan debt balance from 1 November 2021 to 30 April 2022 are eligible for this incentive. 2.

How do I pay my 15% discount with PTPTN?

Repayment can be made online through Internet banking, JomPAY, MyPAY, Shopee, official PTPTN portal (FPX) and the latest channel, which is the myPTPTN mobile app.

Is Tawarruq Haram?

However, it is the third form that raises opposing views from the jurists. There are three different views regarding tawarruq from the jurists, and they classify tawarruq as permissible (harus/ halal), reprehensible (makruh) and prohibited (haram).

Why is Tawarruq prohibited?

While nearly all scholars permit classical tawarruq, majority of them prohibit organized tawarruq due to its process, i.e. gaining money for money where the essence of the prohibition is similarly ruled for Bay’ ‘Inah (Mohamad and Rahman, 2014).

Is there any discount for PTPTN?

It was announced under Budget 2022 that PTPTN borrowers who settle their remaining debt in full will get a 15% discount.

How does PTPTN discount work?

In addition, a 12% discount is given for repayment of at least 50% of the remaining debt in one payment, and a 10% discount for repayment through salary deduction or direct debit according to the schedule.

What is Bai Tawarruq?