Waiting for some Mat-Salleh consultant to translate into Ingeris kut....by using Google Translate.

Based on your post, I called up PTPTN branch at my local vicinity and inquired. The officer on duty told me SSPN-i "penambahan deposit" cannot use credit card, only debit card.

However for "Bayaran balik pinjaman" the payor can use credit-card payment.

I think you may have confused "bayaran balik pinjaman" with "penambahan deposit".

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where you get this info? Reference? Source pls.... or link.

Wow! I am surprise they do it so early, even earlier than KWSP. Last year I remembered KWSP declared their dividend in Feb and SSPN did theirs in Apr or May.

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I was at my kids tuition center waiting to pick up my kid ans struck a conversation with another waiting parent. The topic of course centered on education and the topic vered towards saving for child education and SSPN was brought up.

This parent has never heard of SSPN and when I told her about the RM 500.00 govt incentive that really piqued her interest. Then I whipped up my phone calculator and did a simple TVM calculation for her to see the magic of compounding.

I told her, if my wife and I were to put in RM 6,000.00 [ this is the max tax relief per depositor ] each per annum into SSPN earning a 4.5% [ this is the historical return of SSPN ] dividend per annum. Let's assume I start saving at age one [ I actually open my kid's SSPN account when he was four days old ].

Lets see what will the amount be like when the kid reach 12 years old. Which is what my kid's age today.

PV = 0
PMT = 500 + 500 = 1,000.00 [ monthly auto debit from bank account ]
Yr = 12 years x 12 = 144 mths
Int = 4.5/12 = 0.375% monthly.
Mode = Begin `
Total Future Value = MYR 191,187.50

Now, imagine what will the amount be when he reaches 20 years old [ the age when you need to withdraw to fund his tertairy education ]

Future Value at age 20 years old = MYR 394,195.69

Let's assume inflation for tertiary education is 6% per annum. Now I work backwards and see how much this MYR 394K is worth in today's money....

= equivalent to RM 116K in today's value with 6% adjusted inflation.

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