PTPTN – SSPN-i
The SSPN-i scheme is a fund scheme established by the National Higher Education Fund Corporation (PTPTN) which encourages Malaysian parents/guardians to save for their children’s education needs. The scheme offers various benefits including an income tax deduction for the savings.
Benefits of SSPN-i Education Fund Savings Account
- Eligible to apply for children’s education financing;
- Tax exemption on the current year’s nett savings of up to RM8,000 per year for accounts opened on behalf of your child/adopted children as beneficiaries; (Effective: Year of Assessment 2019 and 2020);
- Free Takaful Protection on depositor with savings more than RM1,000;
- Competitive dividend rates and exempted from income tax; and
- Savings are guaranteed by the government.
i. Eligibility to Opening SSPN-i Account
Category 1:
Malaysian citizen aged 1-day old until 18 years old, the account can be opened by parents/legal guardian.
Category 2:
Malaysian citizens aged below 18 until 29 years old, the customer is given a choice to open the account under his/her own name or it can be opened by their parents/guardian.
Category 3:
Malaysian citizens aged 29 years old and above must open an individual account.
ii. Minimum deposit amount for account opening is RM20
Different of SSPN-i vs SSPN-i Plus
SSPN-i Prime (Saving Account) | SSPN-i Plus (Insurance Saving Account) |
High Flexibility: A minimum of RM20 for opening and savings can be made at any time. | Forced Saving: Fixed monthly savings have to be saved from a minimum of RM30 based on the Package you preferred. |
High Liquidity. The fund can be withdrawn anytime. | Lower Liquidity. Only can be withdrawn and the account can be closed after 3 years. |
Tax relief : RM8,000 | Tax Relief : RM3,000 |
Free Insurance: Based on the Balance of the account start from RM1,000. | Higher Insurance Coverage: Based on the package that has been selected. |
FAQ
Click here to check SSPN-i Prime Dividend History
Contact to SSPN (PTPTN)
For inquiries, please contact:3
Careline: 03-2193 3000 Waktu Operasi: Isnin - Jumaat (9:00 Pagi - 5:00 Petang) i-Care (icare.ptptn.gov.my)
Contact our consultant to get the Best option to save more for your kid to achieve their dream tertiary education.
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