I assume if you have a child means you also have a spouse. Meaning between you and spouse got 2 SSPN depositors.

One way to 'get around' this is to deposit back the 20k for interest into person A account (and empty out person B account, put everything from person B account in person A account) after Jan 5.

If/when the promo start, then you can take the money from person A account out (therefore person A won't get the promo, but DID get the interest) and deposit to person B account. No withdrawal till end of promo period.

In this way you get the interest monthly, also get the promo interest.

Is this new? I think I did mid of December.

Limit is 50k transaction a day.

For most of us the transaction is SSPN->Bank Islam (25k) and then Bank Islam->Other bank (25k). Total 50k

If you have easy access to ATM then can just do SSPN->Bank Islam (50k), withdrawal is not a transfer and hence not applying the same limit as above

Of course, unless you're in a real rush, the 'cost' of doing the first way is 50 sen. Petrol to go to the Bank Islam ATM already more than that kot, not counting parking etc. Unless its at the ground floor of your condo or office.

For reference for all, Ganjaran Kesetiaan started Feb 5 on 2020 and Feb 24 2021. My estimate only, not insider information. Those who want to maximize, you pandai-pandai do your planning la =)

Based on previous years it will 'appear' in system sometime in February (but the statement will say Jan 1st).

Please donate your 4% to me, since it is so small.

No one should put everything into one instrument.

SSPN is not competing with investments. It is almost completely liquid, only slightly more inconvenient than normal savings account (esp if you have Bank Islam savings account) and more liquid than FD. That is the competition, along with the high interest savings accounts like those from RHB/SCB/OCBC.

No matter what other higher than 4% you can get, you still need liquidity. There is daily/weekly liquidity which is in and out, SSPN is not suitable for this. But there is also rainy day liquidity for unexpected occurence, which is the amount people normally leave in FD. That money is better put in SSPN.

Of course, if you're not concerned with rain day fund then SSPN may not be useful for you. I guess some people just rely on their CC limits and possibly family assistance for wealthier families, all spare cash can be put in stocks or whatever. Not my situation, and not the situation of most people.

IMO can be used better on other things (e.g. unifi bills) without the RM1 charge.

The birth cert has the number, as cybpsych has said. It isn't called NRIC I think, but it has the normal format (YYMMDD-XX-YYYY) where XX is based on your state (10 for Selangor, 14 for KL etc.)

Limit is not on SSPN side. The method of depositing may have specific limits (e.g. Shopee has a cap of 5k spend from ShopeePay, and that functions as a hard cap for SSPN because you can't use PayLater or credit card to deposit SSPN), check the respective threads for those methods.

Why would LHDN query just because deposit and withdraw? These are small few K amounts, not hundreds of thousand.

Oh I understood it as referring to the deposit/withdraw. For claim tax relief should be no issue because our statement clearly states how much can be claimed anyway, if he puts a different amount sendiri cari pasal.

Last year was starting Feb 24... This year what's your prediction? I cleared out account to RM20 already, waiting to put back for this promo.

In which case the money stays in my bank account then the last 2 years haven't had that condition, just no withdrawal during (and last year for 2 months after) campaign period. At worst I lose 2 months interest.

Bank Islam probably can.

Besides the fact that the name is for Pendidikan....

No promise has ever been made regarding the interest rate given. Those without children who made deposit are taking a chance, the same as you do when buying AAPL or whatever. Regardless of what all the SSPN-fans have been talking about "never below 4%", investment based is always investment based and all depositors need to be aware of the risks.

Where is the discrimination? The fact that we don't care about other people's money and return? Each person responsible for their own.

Still not sure why the word 'discrimination' is used. Those making the 'chill' comments have no control of the situation and are not responsible for it. At worst they just lack empathy only.

Why do you want to? Can't see any reason not to leave the account there unless your kids are past 18.

Well it's only RM20. Not sure your costs, but it definitely costs time to go visit counter. For me, no issue to leave it open, sedekah the RM20 first, after a few years maybe you will qualify for some campaign similar to the 1%.

So brave? Manual update is effectively a dispute with SSPN, sort of like waving a 'audit me!' flag I think....

EPF one way ticket (for majority of population), SSPN is in and out (and some here in and out in really large quantities). Don't think SSPN will ever give close to EPF level returns.