Post #80
hi all,

Is this doable?

1. On Nov/Dec 2017, I go deposit 6k SSPN for my child. (so that can get 6k tax relief in taxable year 2017).
2. On Jan 2018, I go close that SSPN account and take out all the 6k, and go invest something else.

Question:
1. Can I close the account and withdraw all the $$ in such short time frame?

Actually I just interested on the tax relief, after close account i can use that 6k to invest into vehicle that gives me much higher return.

Thanks for pointing out, looks like this trick is workable and got ppl practice it for taxable year 2015 n 2016.

Great! Hooray !!!

if I going to open SSPN account at PTPTN branch, do they accept cheque?

How you all pay the 6k ? by cheque ? credit card ? debit card? (debit card got 3k or 5k daily limit rite?)

Any charges for open account / add $$ / withdrawal / close account if done at maybank/rhb/ejen SSPN-I ? (other than at PTPTN branch)

Becoz I saw this at PTPTN website:

Soalan 21:
Adakah caj dikenakan jika ingin mengeluarkan simpanan SSPN-i?

Jawapan:
Tiada caj dikenakan kecuali melalui ejen yang dilantik..


Looks like withdrawal at bank will get charges ??

This post has been edited by alesi616: Nov 27 2017, 11:20 AM

thanks for the info, from your previous post, it seems that you had made withdrawal on January 2016/17, are those withdrawal did at PTPTN branch?

Thinking want to go MBB or PTPTN office do account opening, not sure they give free gift or not. Also MBB will be easier coz I can direct transfer fund. PTPTN have to bring cheque or other method..

Is it only will get goodies bag when you go PTPTN branch? Go bank deposit $$ will get goodies bag ka ?

PTPTN branch only accept cash / cheque only ? Can use debit card for money transfer (I thought debit card got daily 5k max transfer limit?)

I checked, MBB debit card daily max limit is 5k only

hi all,

when can we download the SSPN-i 2017 tax relief statement?

Thanks, it is dated early march, does that means we need to park our money in the account until the tax relief statement is out ?

what is the rm500 for ? given free by PTPTN ?

Aikss… too bad my kid is below 7 yrs… cant eligible for that rm500 incentif

Can we pay sspn using credit card ?

so the conclusion is cannot pay SSPN-I using credit card (for JOMPAY) rite?

will they allow swipe credit card if I go PTPTN office to pay ?

read from other forum that you can use credit card to reload the AirAsia BigPay card, then use Big Pay card to pay the SSPN-I.

Is anyone did this before?

hi sifu-sifu,

I have an evil idea. Can we do multiple SSPN deposit and withdrawal in a year? Set aside the tax relief purpose, the intention here is to get as many credit card reward points as possible. Anyone tried below:

1. reload 10k into BgiPay card using visa/master credit card, earn 10k credit card points.
2. deposit 10k by swipe BigPay card at PTPTN branch.
3. wait 1 month, then go PTPTN withdraw that 10k.
4. repeat steps 1-3 again to earn another 10k credit card points.

Is that do-able ?

what i mean is earning the credit card reward points, not the BIG points. After 10-March, I still can use credit card to reload BigPay card and then pay PTPTN rite? Just that I only earn the credit card reward points, no BIG points thereafter.

Or PTPTN means after 10-march no BigPay card is allowed for paying SSPN ?

hahaha, thanks all sifu sifu for the useful feedback. I had drop this idea since it is too hassle.

Initially I wanted to apply for a new credit card and do this trick because swiping 10k for that new card gives a very good welcome gift (not cheap in value). Then after I found out that I not entitle for this new promo campaign. And points alone (using other credit cards that I have) does not give a good return (as sifu sifu mentioned above).

So, end of story. Just a technically do-able trick but yet to be proven...hehe

This post has been edited by alesi616: Jan 11 2019, 04:47 PM

has anyone withdraw the SSPN these few days? Normally how long it takes to process withdrawal?

If I deposit on Dec-18 and make withdrawal on Jan-19, the SSPN 2018 tax relief is counted also rite ?

I believe the interest will be very minimal, the idea of deposit+withdraw mainly for tax relief purpose and taking the money to invest in somewhere that gives much higher return.

I deposited 6k on dec2017 and withdrawal on Jun2018 (wasted few months parking money there), I got interest of rm20.