We are towards to the end of this year and there is a secret deal that all Malaysians should take a good look else you will end up regretting it!
Continue read on because I will share further details for each great deals mentioned above.
Basically these 3 great deals are mainly for students, young working adults and parents with primary school children. Here are the 3 Great Deals from Government but take note that this would be ending 31 Dec 2018
1. 20% discount on PTPTN full study loan settlement
Back in 2014, I enjoyed 20% discount when I completed my PTPTN study loan settlement. I wrote about the whole experience in one of my blog post.
During budget 2018, once again the government announced this great offer to encourage PTPTN borrower on PTPTN full study loan repayment.
So, PTPTN borrowers who make full study repayment from 27 October 2017 until 31 December 2018 enjoy 20% on PTPTN study loan balance.
That 20% discount can be quite a huge savings. For those PTPTN borrowers who can afford to make full study loan repayment, I highly recommend you to consider this great deal.
If you plan to do so, please act before 31 December 2018. Because this great deal will end on 31 December 2018. Also, please take action as early as possible and avoid to do it on the last day, 31 December 2018.
For further details on this special 20% discount, please visit PTPTN website. You will be able to see the whole list of FAQs related to the special discount.
On top of the 20% discount on full PTPTN study loan repayment, the government also offer 10% discount for PTPTN borrowers who made the following PTPTN study loan repayment:
- PTPTN borrowers who settle at least 50% of PTPTN study loan balance within the same month;
- PTPTN borrowers who make PTPTN repayment through salary deduction or direct debit.
This incentive takes effect from 22 October 2016 until 31 December 2018.
If you wish to have more details of the 10% PTPTN discount, please visit the official FAQs on PTPTN website.
2. Free RM1000 on PRS Youth Incentive
Private Retirement Scheme (PRS) is a voluntary long-term investment scheme designed to assist individuals to accumulate savings for retirement.
It was introduced by the government in July 2012 with the hope to better prepare individuals for retirement.
In 2014, to encourage Malaysians to start saving from young age for retirement, the government introduced PRS Youth Incentive.
The first PRS Youth Incentive which was from 2014 until 2016, offered RM500 to eligible Malaysian youth. The current PRS Youth Incentive is from 2017 until 2018 with special incentive of RM1000.
Malaysian youth who meets the criteria below are eligible for the current PRS Youth incentive worth RM1000 in PRS units:
- Individuals must be Malaysian nationals
- Individuals may be existing PPA account holders or new Members
- Individuals must be aged 20 and above but have not yet reached the age of 31 between 2017 – 2018
- Gross contributions reaches RM1,000 during a period of two (2) years from 2017 to 2018 in a single PRS fund of a Provider
- Individuals has not qualified for the previous RM500 PRS Youth Incentive for the period from 2014 until 2016
If you are eligible for the incentive and you currently is a PRS member, I urge you to ensure you have a gross contributions of RM1000 from 2017 to 2018 in a single PRS fund provider.
On the hand, if you are eligible for the incentive and you have not register for PRS account, you can easily do so through PRS Online Enrolment.
I wrote about the benefits of joining PRS Youth Incentive in one of my post. Or feel free to visit PRS Youth Incentive website and PRS Online Enrolment website for further details.
Just make sure you meet the above criteria and enrol latest by 31 December 2018.
Free RM500 on GS500
If you have children between the age of 7 – 12 years old or currently attending primary school, you should read on further. Because this great deal is for you.
During Budget 2018, the government has approved a special budget of RM250 million for 500,000 young receiver from 7 – 12 years old. This special scheme is called Geran Sepadan RM500 (GS500) and it is under Skim Simpanan Pendidikan Nasional (SSPN).
The requirements to be eligible for GS500 as below:
- SSPN account holder (parents or guardians) must be Malaysian citizen
- children age from 7 – 12 year old or enrolled in primary school in 2018
- SSPN account holder must has a net savings of at least RM500 throughout 2018 (excluding takaful contributions for SSPN1M-i Plus)
In other words, you open SSPN saving account for your child with RM500 deposit in 2018, and the government rewards you with another RM500 in your SSPN saving account.
On top of the free RM500, you also enjoy tax relief for the RM500 you deposited for your child. Isn’t is a great deal?
For parents or guardians who wish to open SSPN accounts for their children, now they can do it online at the comfort of their home.
In case you wish to know more about GS500, feel free to check the FAQs here.
Final words
I hope you are eligible for at least one of the three great deals ending 31Dec18 above.
If you find the above sharing useful or beneficial, feel free to share the great deals with your friends and families.
Do remind them to take action latest by 31 December 2018 because all these great deals will end on 31 December 2018. It would be wise to take action early, at least 2 weeks before 31 December 2018.
Let’s grab these opportunities before they are gone!
Read more: 2018 end-of-year financial check