Skills Training Loan For School Leavers

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INTRODUCTION


Skills Development Fund Corporation (PTPK) is a statutory corporation which organised by the Ministry of Human Resources which the main purpose is to provide loans for those individuals who undergo some skill trainings in any Government Training Providers (PLA) and Private (PLS) which ... by Department of Development Fund (JPK) with PTPK

This training is open to all trainees whose went for training program of Malaysia Skills Certificate (SKM), Diploma of Malaysia Skills (DKM) and Higher Diploma of Malaysia Skills (DLKM).

Conditions for Borrower

  • Malaysian Citizen
  • Had been for SKM training programs for Phase/Level 1 till Phase/Level 3, DKM for Phase/Level 4 and DLKM for Phase/Level 5 and other programs which approved by PTPK
  • Age limit for borrower is between 15 to 45 years old
  • Do not receive any finance assistance from other agencies.
  • Fulltime studies as the period stated
  • Family monthly income is not more than RM 5,000.00.

Loan Rate

  • The rate for loan is in between RM 2,500 to RM 24,000 depends on the program and training phase which included:-
  1. Fees.
  2. Living allowance is RM 400 per month in the training period.
  3. Premium payments is for insurans protections.
  • 3% of balance loan will be charge for administration fees yearly.

Conditions for Guarantor

  • Malaysian ciziten
  • Monthly income for one guarantor must not less than RM700, aged 21 years old and above and not more than 50 years old when trainee starts training.
  • If the guarantor is mother/father/legal guardians/age condition and income will be excluded
  • Each guarantor can never guarantee more than two (2) trainees except for mother/father/legal guardian.
  • Not declared bankruptcy

Method for Skills Training Loan

  • Borrowers need a CIMB Berhad Bank account (convensional)
  • Loan will directly channeled into account of borrowers through auto pay and study fees payment into account of Training Provider will be done through direct debit.

Loan Payment

  • Loan payment will start after six (6) months training ended.
  • Period of loan payments is in between one (1) to ten (10) years.
  • Monthly installment is between RM84.69 to RM193.12 based on the total loan which been approved.

 

 

Last modified on Wednesday, 07 October 2015 09:15