https://forum.lowyat.net/index.php?showtopic=4698581&hl=

Thank you sir! for the explanation.

That means if i can sacrifice 1 yr by removing all money inside, to have opening as zero..so that by the following year, if i bank in 8k, then i will have 8k tax relief right?

If you deposit 8k the following year without withdraw within the year, then you will entitle.

Noted. but i cannot afford to continuously bank in rm8k without withdrawing..after 10 yrs it's gonna be rm80k kept inside unable to be used.

Maybe Every 3 years sacrify 1 year withdraw all and don't claim tax lo

good idea. Thanks alot bro!

at least now i know how it works

my initial thought was we cant witdraw once banked, haha.

Previously maybe few years back you cannot withdraw, so enjoy now before tnc change again.

oh tat's scary

i hope they have a grace period before new rules being implemented

would be sad if after bank in rm8k x 3 yrs..then only to find out on 4th year cant withdraw

I thought this is for your child's future?

Different people different purpose. Some do it purely for the tax exemption, some do it to save money for the children, some do it so that their children future can ptptn loan easier

All of the above fit my purpose.

Ya that's the best hehe, on top of all that,u get about 4% interest

Guys. Any promo this time? Free umbrella or anything?

Usually year end will have a lot of free gift including hamper

Went there last year towards end of dec. They said all finish giving out. Wasted my effort to kl central.

Try end of Nov this year, or call 1st before you go

Free gift for what? Saving money in SSPN at the counter?

Do you need to wait after you add your account at boost? mine it seem ask me to wait with following message "Your utility account is taking some time to get back to us. Please hold on, we will notify you when we get a response"

Yes, when there is promotion or roadshow only.

yes but at 6%, its not really high for my child's future

i am doing it for tax purpose

for his future, i have other investment already, and he's not even 1 yrs old already have 20k in that account..

so i cant keep multiple accounts for him, especially i am not that rich