Net deposit means the difference between deposit and withdrawal. So in your case you can only claim RM0 since you withdrew and deposited same amount.

My opinion on the changes is that its not actually any significant changes. No mechanism for tracking withdrawal purpose means onus is on taxpayer to provide proof if/when audited. So status quo for me, just keep adding 8k per year.

Based on previous campaigns, the 8k is the maximum you can get as ganjaran, not the maximum amount which can earn 1%.

Previous campaigns got people putting 6 digit amounts, and they did receive the 1% of those amounts.

EDIT: Confirmed, go to page two of their terma dan syarat https://www.ptptn.gov.my/GanjaranKesetiaan2..._FINAL_PIN1.pdf and read point 6 and 7 (well, point 6 mainly)

This post has been edited by LostAndFound: Apr 30 2025, 08:41 PM

Most 'efficient' way is to deposit end of July, withdraw as soon as the 'tempoh pengekalan' finishes. Effective annual rate calculated in a previous post, but you're not going to get that sort of rate anywhere else with guaranteed capital.

Some will consider it too much hassle, of course, so up to individual. I'm planning a significant amount.

Historically my 'significant amount' is maybe 300-400k only, so I just do daily 50k and can finish within a week.

There are some others who put double that amount, I suppose counter is more efficient then.

The charges super negligible, 0.001% only, still need to kira? I counted before, as long as your withdrawal amount is more than 3 digit, you earn more in interest (assume 4% KDI Save) than the 50 cent charged by withdrawing instant using bank islam compared to slow withdrawal from their website.

Yeah PTPTN withdrawal takes some days. Manual processing.

BIMB can withdraw 50k per day, either to your bank islam website OR to a third party BIMB website. So if for example your spouse has a bank islam website, you can withdraw 50k to her account, then she can transfer it out.

Or you can withdraw 25k to your account and then transfer that 25k out.

Two main reasons:-

First is that tax relief of 8k is incremental amount, meaning if your kid is turning 12 this year (like mine is) the total amount is 12x8000 (adding in the earned dividends over the years) which is already over 100k.

Second (and most relevant) is that ganjaran kesetiaan means its actually worth it to withdraw everything before the launch (say, start of the year) and redeposit during the campaign period. Plus any spare cash around that you don't need for the 2+ months holding period. You can just dump 800k in to get 8k (capped amount) within 2 months. I would say there is no other guaranteed way to earn that much returns in that short a time period (roughly 5+% annualised, guaranteed, not including the normal dividend of more than 3%). But of course it doesn't make sense to leave that large amount in there after the holding period, because that would 'lock' you in by end of the year (since tax relief is based on your closing amount as of 31st December). Hence the need to withdraw all the excess amount, normally immediately after end of holding period.

Yeah is only for those who opened account earlier ("kesetiaan" after all).

If you know someone else who qualifies (and can be trusted) just deposit with them. Since I won't max out 800k, my parents do throw in some monies. I keep track and give them the 1% as well as the monthly dividend (when announced the next year). A bit more accounting work for me, but benefits my parents so indirectly becomes my (or sibling's) money in future.

Unless you deposited your full amount for 2024 on 1st Jan 2024, you won't get 4.05% on it. Dividend rate is for 12 months, if you have less then its pro-rated.

Working hours only. Public holiday also cannot.

The risk is that website/FPX system have problem.

I'm planning to do that as well, but its not risk-free. Also do take note the FPX limit for your particular bank (most are 50k but I know at least one bank that has some stupid 10k transaction limit).

Just checked in app, looks like RM1 fee for RM999 deposit. Cannot use CC.

This is correct. I have always deposited using a variety of bank accounts just before the end of ganjaran kesetiaan period, no issue. Today and yesterday did multiple FPX transactions according to bank limits from both me and my wife's accounts. Previous years have also done from my parent's accounts.

Web, generally my financial transactions (esp bigger amounts) I only do on my laptop cos of screen size, less likely make mistakes.

Don't know about operation hours for deposit, I do during office hours (after office hours is time for relaxing, not handling money). This morning's one was 8+am though.

Today 6+am went through with no issue, FPX immediately reflect. I guess if you're awake even 3am is possible.

Oh, this is good info to know, I did not realise got that limit. Went to check, my 2025 spending is <60k so far on both me and wife's accounts, so no concern just yet. Average monthly spend between 5-12k. Considering the monthly limit was lifted only in.... March I guess? For someone to hit 120k by now would need about 22k spend per month from March till now. Or if the spend is ONLY SSPN RM1000 per day, need to do 22+ days out of 30/31 days per month to hit that.

There is no way to directly use credit card to deposit into SSPN.

What you are looking for is payment providers with wallets which can be topped up using credit cards (sometimes with fee) who ALSO can deposit to SSPN from their wallets. PTPTN provides a list of payment providers in their website - https://www.ptptn.gov.my/en/simpan-sspn/sim...luran-simpanan/ - it's not super up to date though since it seems Lazada has been added recently based on other forumers' comments.

Do note that each payment provider may have their own terms and conditions.

People give advise you don't like then straight "you cannot tell me what to do". Primary school kids also mostly have outgrown this sort of response. If well brought up that is.

Not even that I agree with the sentiment on avoiding complaining, I think its highly unlikely that these complaints shut down the deposit channel. But this sort of childishness belongs in schools not on LYN (or at least keep it to /k).

To be fair, you should ALWAYS claim 100% on one spouse, the one who pays more tax. And if both are in the same bracket then it makes no difference who claims it.

The only edge case where splitting up makes sense is if both spouses are need ~4000 to drop to a lower tax bracket... super unlikely.

For those with similar tax bracket makes sense. Difference in tax bracket means doesn't make sense for me unfortunately. For now I'm okay to allow the amount to build up, it's not sitting there for 12 months after all. Pull out, put in during ganjaran period, then pull out and deposit just enough ngam ngam by end of year.