Skim Simpanan Pendidikan Nasional (SSPN) is the government guaranteed national education savings account which is available for all Malaysians. There are some advantages of investing in this scheme, as follow:
- Tax relief on savings in the scheme up to RM6,000 - you can actually shaved off up to RM1,500 from your tax submission (based on maximum tax bracket of 25%), depending on your current tax bracket.
- Free general insurance up to maximum RM50,000 - only for depositors with deposits of a minimum RM1,000
- Higher dividend rate as compared to fixed deposit rates and tax exemption for dividend
The following table shows the historical dividend rate since inception:
For more info on SSPN, please check out here.
4 comments:
Thanks for the table.
So 2011 SSPN dividend for 3.75% is better than current annual fixed deposit rate of about 3.20% ref http://malaysia.deposits.org/fixed-deposits.html .
Hi, thanks for the info. I've done a comparison on what interest you should expect if you wanted to invest in other places instead of saving in SSPN. Do tell me your thoughts SSPN vs external investments
i think invest in asnb remaja better
Good news! We can now open SSPN-i Plus via online at SSPN-i.com. If you do so before 31/05/2016 you shall be entitled for lucky draw to win Honda HRV, BMW 320i or even apartment worth RM500 thousands.
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