National Tertiary Education Fund Board (PTPTN) has not only offer regular savings account (SSPN i), but also offer another upgraded savings package, SSPN-i plus (Fixed Savings Account), where a minimum daily payment of RM1 is required to enjoy 11 exclusive benefits, including tax deductions of up to RM8,000.
Parents who register for SSPN-i plan can enjoy tax deductions of up to RM8,000 per year on their SSPN net deposits, while parents who register for SSPN-iPlus can enjoy tax deductions of up to RM8,000 on their SSPN net deposits and additional tax deductions of RM3,000 (non-civil servants) or RM7,000 (civil servants) on life insurance.
SSPN-i plus 11 benefits
1.Up to RM8,000 tax deduction.
2.Minimum monthly savings of RM30.
3.Up to RM1,000,000 Takaful compensation for death or permanent disability.
4.No medical record required.
5.Attractive dividend payout.
6.Coverage for 36 serious illnesses.
7.Hospitalization Benefit.
8.Deposits are 100% guaranteed by the government.
9.Worldwide 24-hour insurance coverage.
10.Death benefit (including partner and 3 children).
11.Eligible for Higher Education Fund.
How to open a SSPN-i PLUS savings account for your child online?
Step 1: Visit https://www.ptptn.gov.my/sspniplusonline
Step 2: Click on “Pembukaan Akaun”
Step 3: Fill in the basic information
Step 4: Select a savings package (e.g. INTAN-RM)
Step 5: Fill in personal and child information
Step 6: You can choose between automatic bank transfer, reverse payroll deduction or online deposit.
Step 7: Choose a bank, pay registration fee to complete the registration
