PTPTN, AmBank Group, PayNet collaborate to facilitate loan repayments

by SHAHEERA AZNAM SHAH / pic by BERNAMA

THE National Higher Education Fund Corporation (PTPTN) has entered into a tripartite collaboration with AMMB Holdings Bhd (AmBank Group) and Payments Network Malaysia Sdn Bhd (PayNet) to encourage borrowers to settle their loan repayment.

The education fund and the bank said the collaboration aims to facilitate the repayment process through the online bill-paying system, JomPAY, in the form of a contest.

“Through this collaboration, the JomPAY and Win! the contest was held between Nov 1, 2020 and Jan 31, 2021, offering cash prizes to the winners in the form of loan settlements.

“For winners who have a total loan balance less than the value of the prize won, any excess of the prize will be deposited into the winner’s SSPN-i savings account.

“This time around, the contest was opened to all PTPTN borrowers who use the JomPAY platform to pay their loans,” both parties said in a joint statement today.

Among the prizes offered were cash amounted to RM60,000, which were allocated to 65 winners. The main prize is worth RM10,000 following RM8,000 for the first runner up while the second runner up won RM5,000.

“The fourth place will receive RM4,000 while the fifth place will receive RM3,000. There is also a consolation prize of RM500 for 60 winners.

“Throughout the JomPAY and Win! contest, a total of 179,871 borrowers have made their PTPTN loan repayment through the JomPAY platform, involving payment amounted to RM48.8 million.

“Of the total numbers of borrowers who used the JomPAY platform, 78,498 borrowers were eligible to participate in the contest,” PTPTN and AmBank Group said.

PTPTN chief executive Ahmad Dasuki Abdul Majid said the education fund has been supporting collaboration and the involvement of corporate entities to form campaigns or contests to support PTPTN loan repayment and assist borrowers to settle their loans.

“This collaboration signifies PTPTN’s commitment in ensuring that borrowers can make their PTPTN repayments easily and securely online while Malaysia is still being hit by the Covid-19 crisis.

“At the same time, PTPTN borrowers can also participate in the contests and win cash which will help to finance their loans,” he said.

He added that the campaign hoped to ease borrowers’ financial burden as well as be able to reduce their borrowing through the cash won.

“The loan repayment loans made by borrowers through the JomPAY channel is very meaningful and is able to contribute to the continuity of loans for future generations,” he said.

PTPTN and AmBank have been forming partnerships to encourage borrowers and

depositors to make payments through the JomPAY since 2017.

For the PTPTN loan settlement between 2017 and 2020, AmBank has recorded a 115% growth in the amount of JomPAY collection, raising from RM116.92 million in 2017 to RM251.71 million last year.

During the same period, the number of transactions increased by 186% from 332,511 to 952,783.

The list of winners of the JomPAY and Win Contest! can be obtained through the official portal www.ptptn.gov.my.