Kolej Kemahiran Pure Technics

KOLEJ KEMAHIRAN PURE TECHNICS

Workers Loan

financing

WORKERS LOAN
Under the 10th Malaysian Plan, the Skills Development Fund Corporation(PTPK) has been given the responsibility to manage the loan funds for upgrading the skills of the workers. Reason for the funding is to improve the qualifications of workers either:

  • Retrain (Reskiling);
  • Train new skills to support existing skills (Multiskiling);
  • Training to improve existing skills (Upskiling);
  • Undergo skills training to obtain certification of knowledge and work experience

Funded Skill Programs :
Skills courses offered under the program are recognized by the certification bodies as follows:

  • Malaysian Skills Certification namely Malaysian Skills Certificate (SKM), Malaysian Skills Advanced Diploma (DLKM); or
  • Certification of institutions recognized by the Malaysian Qualifications Agency (MQA); or
  • Certification from an accredited institution by the Public Service Department (JPA); or
  • Professional certification recognized internationally; or
  • Certification in addition to items (i) to (iii) above that is approved by the Economic Planning Unit (UPE), Prime Minister Department.

Lending Rate
The lending rate is dependent on the skills and level of training with a minimum of RM 750.00 to RM 24,000 which includes:

  • Tuition Fees
  • Insurance Premium Payments

Administration fee of 1% per annum charged on a reducing balance.

Borrowing Terms
Borrowers who are eligible to apply must meet the following conditions: -

  • A Malaysian citizen;
  • 18 to 45 years old on the date of commencement of training;
  • Terms of income is exempted;
  • Need a guarantor;
  • Must consist of one of the following categories of workers;
  • Workers who are under employment;
  • Retrenced workers (retrenched) or those under Voluntary Separation Scheme (VSS); or
  • Self employed workers
  • Has been working for at least six (6) months in the present job or before
  • Preference is given to applicants who are not from the management and professional
  • Has not obtained any sponsorship / loan from government agencies or other financial institutions
  • Applicants must fully repay any outstanding loan payments for skills training and previous penalty (if any).

Terms of Guarantor

  • Need a guarantor who meets the following conditions:
  • Monthly income of not less than RM700.00;
  • Age between 21 to 50 years old;
  • Cannot be a guarantor for more than two (2) trainees unless it is their mother / father; and
  • Not declared a bankruptcy.

Skills Training Loan Payment Method

  • Borrowers are encouraged to open an account with RHB Bank; and
  • Payment of training fees will be paid to the borrower's account and transferred directly to the account Training Provider. Insurance premium will be paid directly to the insurance company.

Application Documents / Guarantor Required Application

  • One (1) copy of Identity Card of the certified trainers.
  • Letter of Offer for training from PL to the trainers along with the training fee structure in accordance with the level of training that has been signed by the trainer.
  • One (1) copy of the Candidate Registration SKM / DKM / DLKM (JPK/T/1002) and Official Receipt of registration fee paid for the Malaysian Skills Certification program (PKM).

Agreement

  • One (1) copy of the identity card of the Guarantor that has been certified.
  • Form Agreement to contribute to Insurance Takaful Ikhlas Sdn. Bhd.

The following additional documents are required for the following categories of applicants:

Employed Workers

  • A letter from the employer confirming that the trainee is working with employer now.
  • Latest copy of salary slip and EPF statement / SOCSO contribution statement to prove having worked / a working experience of more than six (6) months.

Retrenched Workers

  • A copy of Work Retrenchment Letter from the previous employer.
  • One (1) copy of the sworn statement of income using Form Statutory Declarations Act 1960 (revised 1996), which was approved (if monthly income).

Self Employed Workers

  • One (1) copy of the Statement of Income (IRB) / Form Statutory Declarations Act 1960 (Revised 1969), which was approved / One (1) copy of the Registration of Business Company with the Companies Commission of Malaysia (SSM) (if applicable)
  • One (1) copy of Utility Bill (Bill Water / Electric) for confirmation of the last permanent address and Guarantor.
  • One (1) copy of the latest wage / affidavit of income using Form Statutory Declarations Act 1960 (Revised - 1969) Guarantor (if no paycheck) and Financial Position Guarantor Declaration Form.

Payment Instruction

  • one (1) copy of the Statement of RHB Account from new trainee / active containing informations such as name, identity card number and bank account number of trainee.

All loan applications must be submitted through registered Public & Private Training Providers with PTPK