Why is it your only option is:-
a) Put in SSPN and never take out (reinvest tax savings)
b) Don't do SSPN

Already we were discussing earlier a way to maintain liquidity while still increasing amount 6k per year which doesn't involve leaving your money inside SSPN. Even better if after 3 or 4 years you 'skip' one year (lose out on tax savings that year) to reset to 0 so you don't have to keep putting larger and larger amounts end of year.

What the 'point' of SSPN is, for me, is tax savings. Their stated purpose of children's education is besides the point for me, as long as they let me access my money when I want it. This is unlike, for example, KOPP with defined investment per year and no withdrawal till 18 (and also higher returns).

In the end, you need diversity. SSPN compares well with FDs which are instant availability of liquidity instruments with guaranteed returns, and with added tax break advantage. That's complementary and not replacing your other higher return/risk investments.

I think SSPN-i is insurance, so no can't withdraw. Don't you read the T&C before buying? For most of us SSPN-i got no point as EPF already maxed out.

Sure? Last round when I was there I was told it applies to the insurance category not the SSPN category for tax relief.

That covers SSPN savings. SSPN-i is a new product, and hasil's website doesn't specifically mention it. SSPN's own advertising says RM12k deduction but Hasil says 6k for net SSPN savings, hence the additional 6k comes from where? The only other 6k is life insurance/KWSP...

Thank you sir, you're a hero.

Tax savings depends on your bracket. If you earn below 4k and don't pay tax of course zero savings (tax wise)....

Take note it works great for one year, but if you want to do the following years you have to prepare ever larger amounts.

How to use Maybank to deposit? Never knew got this feature....

Thanks! No need to visit Mines di.

I did that last year. The only nice thing was the powerbank, and I doubt it's worth my time rushing there (rather go home and play with kids). That Sony powerbank also quite cheapskate, broke in a couple of months. My Xiaomi powerbank much better quality.

This year see if got time la. Likely just use maybank.

Yeah I always lump sum 6k. But goodie bags not that attractive IMO. Anyone gotten this year's goodies?

And the SSPN-I Plus not worth it (in terms of income tax deduction) due to EPF. Won't be able to claim extra.

Last time used to be able to, years back, but they close that loophole di. Now cannot. Check the above reply and see if allowed by maybank, I'm pretty sure is not.

Kalau hutang kena bayar....

If you're on schedule for paying then should be okaky to open right?

Every branch got? Which branch did you do at?

Can.

I asked... the fella at counter said no. But I didn't try because I preferred to use my debit card.

Some debit card got promo, for example. If not then you still get some sort of points (normally 1 point per RM3 spend).

There was a 3-4 month period last time when CC accepted, but no longer. Debit card is as good as it gets.

Their intention is you deposit and don't withdraw till your child studying. Why would they want to spend resources to make it easier to withdraw?

How to jump from SSPN withdrawal to PTPTN payment? Anyway PTPTN payment the priority is for payment to be made, hence accept forms of payment which facilitate that. Not their job to worry about whether the payee knows how to handle finances.