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> SSPN Saving rate, PTPTN

ableze_joepardy
post Jan 30 2019, 07:28 PM

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QUOTE(ronnie @ Jan 30 2019, 03:34 PM)
My SSPN account opened 2009 gets the Dividend.
Is it true that we won't get Dividend for the month you deposit the funds ?

Eg. For 2018, I deposit on early Nov 2018, the dividend calculated based from Dec 2018 onwards.
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early nov is what date?

i think its depend on cut off date. for eg if cut off date 5th every mth then u depo b4 that date may still eligible for div. if cut off date is 1st every mth then confirm not eligible.
ableze_joepardy
post Jan 30 2019, 07:31 PM

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QUOTE(nexona88 @ Jan 30 2019, 06:10 PM)
have 1 doubt..
how SSPN can pay the dividends? where the source of $$?
their investment class portfolios?

any idea icon_question.gif
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sspn need to borrow money to lend to others at certain rates.

n they need extra money to pay as div to depositors too at 4% avrg.

PTPTN interest is how much % now? like ujrah its 1% if not mistaken.

so yeah, looks like gov-backed ponzi to me lolzzz
nexona88
post Jan 30 2019, 08:17 PM

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QUOTE(ableze_joepardy @ Jan 30 2019, 07:31 PM)
sspn need to borrow money to lend to others at certain rates.

n they need extra money to pay as div to depositors too at 4% avrg.

PTPTN interest is how much % now? like ujrah its 1% if not mistaken.

so yeah, looks like gov-backed ponzi to me lolzzz
*
Hmm too general...

Anyone else have detailed info icon_question.gif
MUM
post Jan 30 2019, 08:42 PM

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found this research paper on the net...
if those are interested and got free time can read lah....

The sustainability of the PTPTN loan scheme
A Research Paper by Penang Institute...December 2016
https://penanginstitute.org/wp-content/uplo...l_16Dec2016.pdf



xuzen
post Feb 2 2019, 12:31 PM

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Quickly! Quickly!

Go download your 2019 SSPN statement. The dividend is out!

Nothing to shout about, it is same ol' same ol' 4%.

The main reason I deposit into SSPN is to get the future matching grant and tax relief.

Xuzen
yklooi
post Feb 2 2019, 01:41 PM

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QUOTE(xuzen @ Feb 2 2019, 12:31 PM)
Quickly! Quickly!

Go download your 2019 SSPN statement. The dividend is out!

Nothing to shout about, it is same ol' same ol' 4%.

The main reason I deposit into SSPN is to get the future matching grant and tax relief.

Xuzen
*
Future Matching grant?
Any t&c for eligibility?

This post has been edited by yklooi: Feb 2 2019, 03:03 PM
MUM
post Feb 2 2019, 03:14 PM

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QUOTE(yklooi @ Feb 2 2019, 01:41 PM)
Future Matching grant?
Any t&c for eligibility?
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got this from the site...not sure of latest validity....

Matching Grant
Matching Grant is a financial incentive given only to a family whose household income does not exceed RM2,000 RM4000 per month (effective 1/1/15).
The amount of Matching Grant (up to RM10,000) will depend on the duration and amount of savings.
The longer the duration of savings and the greater the amount of money saved, the greater the amount of Matching Grant given.

Matching Grant Prerequisites:-
Family household income does not exceed RM2,000 Rm4000 per month;
The beneficiary has been offered and has registered to study in a higher learning institution endorsed by the government; and
At the time of application, the beneficiary must below than 29 years old.

Commencing 15th January 2010, Matching Grant eligibility will be determined base on the family household income at the time of closing the account(s).
The latest certified income statement as well as a copy of the spouse’s MyKad/Military/Police Identity Card must be submitted along with the withdrawal application form.

As for the accounts opened prior to 15th January 2010, Matching Grant eligibility will be determined base on the family household income at the time of opening the account(s). A certified income statement as well as a copy of the spouse’s MyKad/Military/Police Identity Card must be submitted along with the opening of account application form.

https://scholarships.malaysia-students.com/...ional-sspn.html

Before & After 15 January 2010...big different

This post has been edited by MUM: Feb 2 2019, 05:25 PM
besiegetank
post Feb 2 2019, 04:54 PM

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Household income not more than 2k who will still put money in SSPN??? Do they really think it through before implementing this 'incentive'?
yklooi
post Feb 2 2019, 05:19 PM

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got this from PTPTN site...

"Mulai 1 Januari 2015, pendeposit yang mempunyai pendapatan bulanan keluarga (gaji pokok) tidak melebihi RM4,000.00 sebulan layak dipertimbangkan pemberian Geran Sepadan mengikut syarat-syarat seperti berikut:

(the rest is almost similar to above post)

https://www.ptptn.gov.my/geran-sepadan-sspn-i-side

I go in for the current tax benefits.....by the time I applied for the matching grants (RM10000 max) for my sons, I would either be dead or no more able to work anymore. blush.gif sad.gif
talexeh
post Feb 2 2019, 08:51 PM

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QUOTE(xuzen @ Feb 2 2019, 12:31 PM)
Quickly! Quickly!

Go download your 2019 SSPN statement. The dividend is out!

Nothing to shout about, it is same ol' same ol' 4%.

The main reason I deposit into SSPN is to get the future matching grant and tax relief.

Xuzen
*
Where do you see the 4% in your statement? I checked mine but still same ol' amount. hmm.gif
yklooi
post Feb 2 2019, 09:12 PM

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QUOTE(talexeh @ Feb 2 2019, 08:51 PM)
Where do you see the 4% in your statement? I checked mine but still same ol' amount. hmm.gif
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click at the "Lihat Terprichi"?

btw,
1 got 2 a/c...1 was updated 1 day earlier then the other
also, it did not shows the value number 4%.....just an RM amount as dividend

This post has been edited by yklooi: Feb 2 2019, 09:14 PM
xuzen
post Feb 2 2019, 09:58 PM

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QUOTE(talexeh @ Feb 2 2019, 08:51 PM)
Where do you see the 4% in your statement? I checked mine but still same ol' amount. hmm.gif
*
I use the dividend amount divided by 2018 c/f amount. It should be close to 4%.

I put in the whole RM 6,000.00 lump sum in Jan 2018 immediately after getting my bonus.

Xuzen
lyc1982
post Feb 3 2019, 12:33 AM

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QUOTE(besiegetank @ Feb 2 2019, 04:54 PM)
Household income not more than 2k who will still put money in SSPN??? Do they really think it through before implementing this 'incentive'?
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i was thinking the same...
MUM
post Feb 3 2019, 10:07 AM

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many people just go for the tax relief...especially those on the higher tax brackets.

just like people go buy PRS funds...
just go for the tax relief.
don't think about it...just go. just go

submergedx
post Feb 11 2019, 06:33 PM

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Questions:

1. The SSPN-i plus insurance are only covered the infants right?
2. Who are the insurance provided? Anybody claim any before? The procedures are same like normal insurance?
3. Does i need to open bank saving account(maybank/ambank?) for this particular SSPN-i scheme?

MUM
post Feb 11 2019, 07:20 PM

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while waiting for real life experienced responses,...
may I kaypoh abit here...
QUOTE(submergedx @ Feb 11 2019, 06:33 PM)
Questions:

1. The SSPN-i plus insurance are only covered the infants right?
looks like I covers the depositor.....

http://www.getinsured.my/what-is-sspn-i-plus/
2. Who are the insurance provided? Anybody claim any before? The procedures are same like normal insurance?
the main takaful provider is as per this...

https://www.ptptn.gov.my/polisi-utama-penge...ful-sspn-i-plus
3. Does i need to open bank saving account(maybank/ambank?) for this particular SSPN-i scheme?
looks like yes, .... unless or else .....
"......For top up, you may top up through online, monthly deduction from your salary, auto debit through selected local banks, online banking (MBB and CIMB), Jompay or and PTPTN offices nationwide."

https://the-money-magnet.com/2017/12/benefi...pn-i-plus.html/

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submergedx
post Feb 12 2019, 12:26 PM

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QUOTE(MUM @ Feb 11 2019, 07:20 PM)
while waiting for real life experienced responses,...
may I kaypoh abit here...
*
Thanks for the kaypoh tongue.gif
Okay so i need to create an bank account for the baby. Thanks.
Btw the deposit 500 free 500 no more right?
Missed that boat last year december while i still saw it website banner ad.
bangwall.gif
talexeh
post Feb 12 2019, 12:48 PM

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QUOTE(submergedx @ Feb 12 2019, 12:26 PM)
Thanks for the kaypoh tongue.gif
Okay so i need to create an bank account for the baby. Thanks.
Btw the deposit 500 free 500 no more right?
Missed that boat last year december while i still saw it website banner ad.
bangwall.gif
*
It was only eligible if your child is at least 7yo so "baby" is not covered.
submergedx
post Feb 12 2019, 12:50 PM

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QUOTE(talexeh @ Feb 12 2019, 12:48 PM)
It was only eligible if your child is at least 7yo so "baby" is not covered.
*
IC...so that campaign is basically for primary kids. thanks for the input.

eric.tangps
post Feb 12 2019, 07:58 PM

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“Kadar Ganjaran Kesetiaan SSPN-i adalah sebanyak 0.5% atas simpanan yang dibuat dalam tempoh kempen. Kadar ini merupakan kadar tambahan ke atas kadar dividen tahunan yang diberikan oleh PTPTN.”

T & C :

https://www.ptptn.gov.my/images/fail/promos...n_kesetiaan.pdf

Checking :

https://www.ptptn.gov.my/Ganjaran/Utama

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