Hi,

Just got my baby few weeks ago and found about this SSPN thing when filling up my tax return form earlier today. Seems like a good way to get the tax relief with reasonable interest rate (similar to FD). But I have a few questions based on my reading in the SSPN website and this thread, as follows:

1) From the SSPN website, it's mentioned that the withdrawal is only allowed for 10% or RM500, but in this thread I read that this T&C has been revised and now it's free to withdraw anytime. Is it correct? If yes, are there any charges for withdrawal? And if I open the SSPN account via Maybank, can I do the withdrawal online right into my Maybank account?

2) In the tax return form, the max tax relief is RM6k per year, but in this thread it was mentioned that we need RM12k to be eligible for the relief. May I know is this only applicable for the 1st year?

3) I understand that I can open the SSPN account at Maybank branch. Since now we can't make the SSPN deposit via CC, can I use M2U to transfer in the deposit?

4) From the SSPN website, I see that there's another product called SSPN-i Plus, which is SSPN + additional insurance coverage. May I know is the insurance package provided a good package to bundle with? Or it's better to go with the normal SSPN and buy the separate insurance outside?

Thanks

May I know will it be any minimum duration before withdrawal? Say I open an account in this coming December and deposit RM6k into it, am I allowed to take it out immediately in January next year?

Also is there any minimum amount that I need to maintain in the account?

Thanks

Planning to open an account for my newborn baby to take the tax relief benefit. As I understand, it's RM6000 max, but as I can see from the website, there's a banner showing this. May I know what is the RM12,000 relief about?



Also looking from the posts above, it seems that opening/saving through their branches is better compared to Maybank as they are giving some free gifts right? Is the one at Giant USJ still open? It's shown in the PTPTN website but not in the Giant directory.

Thanks

Thanks for the info. So looks like the SSPN is only 6k relief, but still better than nothing.

Will arrange to drop by their USJ branch later.

Not yet, coz when I wanted to withdraw 6k, only found out that ATM only allow 5k a day, so need to schedule another day

Hi, just a quick check on the dividend cutoff date. Last year i made the deposit in early December but didn't manage to get the pro-rated dividend. Was told that the deposits made in the month of Nov/Dec will not be eligible for the dividend. Is it true?

So if i make the depoait now (Oct0, will i get the probrated dividend for this year?

Thanks

now only i know can use shopeepay for sspn, i'm looking into the best strategy.

previously only load in 6k / 8k by the year end for the income tax relief. since there's limitation in the shopeepay, i'm thinking of doing it on a monthly basis.

may i know is the sspn-i interest calculated based on daily or monthly? and if it's monthly, meaning that i should "pay" it in the last day of the month so that can get the interest for the next month right?

thanks

also about the royalty promotion, i see that in the t&c the max rebat is RM8000. so just to clarify, 8k is the max rebate right? not the rebate for max 8k deposit ya

so if i deposit via shopeepay say for 20k before 30/4, and then will get rm200 by july right?

then can i withdraw it out in december and them deposit again next year? any t&c or limitations on this?

thanks

Thanks for the reply.

regarding the withdrawal, the reason i want to do it is due to the dividend (~4% is still better than FD), as from googling i see some mentioned that the dividend will be pro-rated on monthly basis, so meaning that if I put it in now and withdraw in early December, should get 7 months dividend right?

Also about the income tax, as per my understanding, if I deposit 20k now and withdraw 12k later, the remaining 8k is still eligible for the tax relief right?

Thanks again

noted thanks. let me try it out.

btw about the withdrawal, i see that it can be done via ptptn website. may i know is it just submit and clear, or they will call and ask why want to withdraw ya?

ok noted with thanks.

coz i saw from some old posting, at that time they said that it's not easy to withdraw. i guess it has changed now

thanks for the info, it's very clear in term of the calculations as well as the monthly duration.

Hi all,

Got a question about the dividend payment. Based on the following link, may I know if the following is correct?

1) Withdrawal after 5-Dec will entitle the December dividend, and if I want to withdraw then the best time will be on 6-Dec right?

2) Any deposits between 6-Dec to 31-Dec will not entitled for any dividend right?

https://www.ptptn.gov.my/KalkulatorDividen/Utama

Thanks in advance

just to check, due to the recent promos i also deposited above 8k this year so far. and also planning to withdraw in Dec and deposit again early next year.

may i know which day in Dec shall be the best time to maximise the dividend? early Dec or end Dec?

thanks

based on my understanding, it should net deposit. so ya it's 7900.

another question, sorry if this has been asked before.

i have opened an account for my son. can my wife open another one for the same son?

thanks

great, thanks for the quick reply

ok thanks for the info. it's really helpful

read some posts b4 that ppl taking about referral. may i know is there any referral rewards for individual accounts? e.g. i become the referral for my friend's new account?

1) Just to understand more, since you guys put so much money inside for the 1% bonus, meaning that you will withdraw it either now (after the bonus is paid) or keep it until Dec for the 4% interest right?

2) Say if you withdraw it in Dec, you will park it temporary in bank first and later move it to SSPN again early of the next year when the 1% bonus promotion started again?

3) During the withdrawal from SSPN, is there any limit that you can withdraw? or 700k at 1 shot?

4) I see you are putting in 999, 998 etc. I guess it's from those online platforms? Since there's a limit of monthly spending, meaning need to use multiple accounts to 1 single SSPN account right?

Thanks in advance