To what instrument? Agree with poster above, as long as it tracks FD rates I don't see much of a difference.

The main benefit is income tax deductible anyway.

I did two withdrawals already through Bank Islam since May 1st. Both reflect immediately.

So confident.... but wrong.

Your example is not the same as the one you were replying to. Read carefully again.

If Year 1 you put in 8k, Year 2 you take out 8k, then year 3 put 8k, both years 1 and 3 will be eligible. That's more like the mentioned situation. Yours totally different.

Definitely is your IC. Are you sure you are the one open the account? Check the account number, which should contain your IC number with a few more digits in front and back.

The tax relief is not for net amount in account, its for net increase.

The example is poor because it's showing balance, instead should show that in 2020 deposit +8k, in 2021 withdraw -8k, then in 2022 +8k deposit.

What debates? I have 5 boost accounts under 4 different IC paying to the same 3 SSPN accounts (under two different IC, mine and my wife). Boost asked for IC when adding account is same as asking for account number when doing bank withdrawal, if you notice the SSPN account number is basically IC plus a few digits....

Don't plan 3-5 years ahead. Tax benefit may change, you need to keep updated.

I think it's "deposit amount" OR "balance", not deposit amount divided by balance

I've very regularly used Boost to deposit from 5 different accounts to 3 different PTPTN accounts. I keep my own records in my personal accounting system, not a single time has there been a mistake made.

No.

Some of the regulars here very kiasi, they believe that because Boost require you to type in your IC number in the app that you're not allowed to deposit to other's account.

But the fact is SSPN uses your IC number as account number (got a few more digit in front and behind to indicate which account and which child).

Also my experience is that my parents can go to any SSPN branch and deposit to my kid's account, PTPTN got no issue with it. Didn't even ask how they're related.

I already address this. That's because SSPN uses your IC number as the account number, so of course if you're depositing you will need to provide the account number.

This is interesting. How much is the fees charged in this way? Have you tried?

Dividend 4% is for one year money kept there. If you deposited in December most also can get roughly 1/12 of 4%. If you missed the cut-off date (supposedly 5th of the month) you won't get any dividend for that year.

Unless you're expecting to deposit few days/few weeks and can get 4% (if got such investment I definitely pour money in like water).

Any website which is not PTPTN official website is a potential scam. Even if there's a reasonable explanation for the name. Register domain cheap je. You can probably register lowyatforum.net right now, then go shoot blindly say "wondering how people can't read LOWYAT FORUM". That's not the point.

Good advise. Dividend definitely will be somewhere in between your February transactions (for this year). For me it was like in 2 February 'slot' even though it says 1 Jan.

Based on your advise I saw a line like this:-

11/06/2020 1010 SIMPANAN TUNAI G KESETIAAN2020 W0010001

Unfortunately I'm not so lucky to have won lucky draw money =(. Time to deposit more money to match the ganjaran kesetiaan amount.

As soon as system open in January you should be able to withdraw. Some have said to wait till statement generated, but I don't think that will affect anything. Myself have never needed to withdraw before though, so I have opinion only, not experience.


Source for this?

Before 5th you can get the dividend for January. Probably higher than FD at least. Also some need to wash Boost credit from too much SCB WFH campaign reloads.

This post has been edited by LostAndFound: Jan 3 2021, 04:09 PM

I did every day from 1-3 Jan but not yet reflected. My deposit at branch yesterday also not yet reflected.


Wait for February.

Yah PTPTN officer said for dividend calculation they will use the transaction date, not the posting date when it appears in system, to calculate.

They can only claim for KPI if within 14 days of deposit.

Next time you physical visit you find the staff that is fast and responsive and ask for their number. Reward the one which is good