No.

The way that PTPTN calculate interest is lowest balance within a month. The month starts on 6th of the month.

Let's say you start with 10k in your account. And you plan to deposit/withdraw 20k.

If you deposit on 7th and withdraw on 31st of the month, you only get interest on the 10k (lowest balance).

If you deposit before 6th (or on 6th I guess) and withdraw on 5th/after 5th of next month you get interest on the 30k.

Not enough information. What was your balance on 2022 January 1st? What you withdraw in Jan 2023 doesn't matter at all for tax relief, it is just (amount at 31st Dec) - (amount at 1st Jan) - (dividend/reward received from PTPTN)

For interest also not enough information, for that you need to know minimum monthly balance in period 6th of the month to 5th of next month, and the interest is per month not per day or per year.

FD is 4% this year, who knows what rate SSPN will earn? Historically give better return than FD, but for 2023 no one knows. Those who were happily saying "never drop below 4% before" should know better by now after the past year performance hopefully.

Well that probably means he gets some benefit when topping up don't you think?

Same thing, this eKYC useless one la, just say 'got error' and no indication what needs to be fixed.

Still can't eKYC. Chat with PTPTN live chat they say need to go to physical branch to verify. Stupid thing is when I ask why can't just use the current page they said it won't be close down, we can just continue to use the current sspnlogin page as before. Dunno whether misinformed or miscommunication.

EDIT: On further chat - its the lovesspn website which will be shut down. Our current login link at https://www.ptptn.gov.my/saving/sspnlogin.html is under ptptn website, will still be available for use.

This post has been edited by LostAndFound: Jan 13 2023, 03:21 PM

Old link still works today. I think we panic over nothing.

My post is quoted below your post. Suspect what is being moved is simply the lovesspn website (which from the start was quite unprofessional IMO). Based on the response I got from CS.

I think... you are not reading properly.

Alternatively based on my conversation with CS (posted earlier)... the portal isn't the one being replaced, but the webpage (lovesspn stuff being moved to ptptn.gov site).

I don't like this portal for one reason - no security. Password only, no 2FA, anyone can login if your password bocor. And then transfer out your money. Of course someone has reported that not able to transfer to other account which is not your name/IC, but that's depending on the bank security. Preferably the website itself won't allow such easy access to money transfer.

Haven't tried otherwise, and I did mention that in my post 2nd last sentence.

Ya'll so impatient for what, previous years mostly is announce towards end of February, already talking about 'not coming'?

I'm holding money for it, no issue. Please go ahead and place your FD, next month sometime suddenly come and try to do calculation whether to break it for ganjaran. Based only on your assumption on pattern.

For what its worth, I have asked CS and they said ganjaran campaign will be announced in 2-3 weeks.

If PTPTN stop withdrawal it will not be because of those leeches you talk about (deposit dec withdraw jan). Those people do not earn a single cent from PTPTN, they only get the 8k income tax benefit (which is not paid from PTPTN, doesn't come from PTPTN budget, and no impact on PTPTN at all).

Ganjaran-focused savers are the ones who actually earning from PTPTN, because that 1% is paid by PTPTN. The first round was the 'worst' in terms of ROI for PTPTN, but since then they extend to 2, 3 months, its not like they are not getting anything from having the funds locked in for that period of time.

So specific, this is #confemsure

SSPN staff who 'claim' your deposit (based on evidence you send them e.g. receipt of payment) it will count toward their KPI. Previously there were some who would reward loyal depositors by giving a cashback to them in exchange for reporting via that staff.

So for example I deposit 50k, I send my deposit receipt to the staff and that staff report as their KPI that they manage to obtain deposit of 50k. No idea how much they earn for that in their KPI.

But rules have changed, some time ago one of the regular SSPN staff I use for deposit inform me HQ no longer allow cashback to be given to depositor by the staff, only those gifts (umbrella, tabung etc). Also more recently, SSPN has limited the staff KPI achievement for the specific case where depositor deposit money and withdraw within same month. If there are staff which still secretly giving cashback, it makes sense that one of the condition would be 'no withdrawal in that month', since that directly impacts the amount they receive.

Actually there was a member who did calculation last time, said that deposit is counted after 5th, but withdrawal after 1st doesn't remove entitlement. I cannot verify, I always understood it as 5th to 5th money must be inside. Anyone who very free to do their calculations over the past years?

Was discussed in this thread (or previous version) before, can search back. But now no more such discussion as if it happen also is not officially allowed.

Rich guy =) how many million you cycle in wei.