Why you need to have SSPN account

Hello all my beloved readers. Do you have any children? If yes, do you have account at The National Education Savings Scheme (SSPN) ?  If not, you must read this why you need to have SSPN account :-


SSPN account

SSPN is the National Education Savings Scheme ( used malay acronym ‘Skim Simpanan Pendidikan Nasional’).It is a saving scheme or instrument specifically designed by the National Higher Education Fund Corporation(PTPTN –‘malay acronym ‘Perbadanan Tabung Pendidikan Tinggi Nasional). It is a syariah compliant product based upon the concept of ‘Wakalah Bil Istithmar ‘.


You will get the following benefits :

–          Free Takaful coverage for depositors with savings of RM1,000 and above

–          Eligibility to apply for PTPTN education loan

–          Provision of matching grant of up to RM 10,000 for an eligible family

–          Tax exemption on current year net savings of up to RM3,000 per year

–          Competitive dividend rates and exempted from income tax

–          Deposit of as low as RM20.00 at any time and guaranteed by the government

SSPN Account Compulsory Savings Condition

Beginning  January 2012, students applying for PTPTN education loan must have an SSPN account with minimum savings of *RM20.00. Students are encouraged to open an SSPN account at Maybank counters to facilitate and expedite the process.

** The minimum savings rate is subject to change from time to time

For more information go to the PTPTN website


  1. As the compulsory of PTPTN, so you must have the account. It ain’t cheap for education expenses now. Do you want to make personal loan for your children education? I’m not recommend that.
  2. Other than that you also could have the tax exemption. That’s a good way to run from tax. Why paid tax if you can save for your children education.
  3. The minimum deposit is low. Only RM20.00 but if you just deposit only RM20.00 than you are loser. Save more and get the dividend rates for your children expenses.
  4. It is easy to open and deposit your money. There’s many bank throughout Malaysia that feature the facilities.

Withdrawal can be made at any time subject to the regulations stipulated by PTPTN from time to time. But for me, it is for your children, so just keep it until your children need it (don’t use for your personal expenses)

Source Info : SSPN Broucher


I want to share this article because my spouse has open the SSPN account last month. It is good for her future. Me? I’m still don’t open SSPN account.

p/s :- Okay, this article is related for Malaysian citizen only but for those readers from other’s country could compare this incentive from Malaysian government and your government.

Whether you are a crypto trader or an investor, keeping a tab of the crypto

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