Jom Simpan SSPN-i With a 4% Payout Interest Rate In Every Recent Year!
With the recent interest rate cuts by the National Bank and the economic downturn, the returns of many savings instruments have also become lower. Take time deposits, for example, if the bank introduced a time deposit discount, the general annual return rate was over 4%, but now even if the bank launches a time deposit discount, the annual interest rate is only about 2.5%!
Not only fixed deposits but many other trust funds have lower and lower return rates. For example, ASM 1, under the National Savings Fund ASNB, had a dividend of more than 6% before, but this year’s dividend has dropped to 4.25%!
Therefore, many people are looking for other investment or savings tools that can obtain higher returns, but not everyone wants to try stocks, which are relatively high-risk investment tools.
Therefore, here is the National Education Savings Fund SSPN-i, one of the savings tools that can obtain higher returns than fixed deposits without any risk.
The National Education Savings Fund SSPN-i is an education fund launched by the government. This education fund is divided into several groups, including parents who can help their children open an account, or Malaysian citizens over 18 years old, or for themselves Open an account!
Malaysian citizens over the age of 18 can open an SSPN-i account for themselves. After opening an account, they can freely choose how much deposit they want to deposit. In other words, if you want to save, you can save money online at any time, but if you feel that you have a tight hand these months, you can also skip saving.
What many people care about most is the actual payout ratio. SSPN generally announces its dividend payout rate at the end of January or early February each year. In recent years, the payout rate has been over 4%! Higher than fixed deposits.
SSPN-i’s crediting interest rate over the years:
- 2008: 4.00%
- 2009: 2.50%
- 2010: 3.25%
- 2011: 3.75%
- 2012: 4.25%
- 2013: 4.25%
- 2014: 4.25%
- 2015: 4.00%
- 2016: 4.00%
- 2017: 4.00%
- 2018: 4.00%
- 2019: 4.00%
To summarize the benefits of SSPN-i for you:
- You can deposit freely, there is no minimum monthly deposit
- Parents can enjoy up to MYR8,000 tax deduction if they save money for their children
- In recent years, there has been a 4% payout ratio every year
- Enjoy the protection of free Islamic insurance
- Deposits are guaranteed by the government
Speaking of the advantages, of course, we have to talk about the disadvantages, including:
- It is troublesome to withdraw money
- If you make a deposit this year, you can know the crediting interest rate early next year
How to open an SSPN-i account?
~ People can use various methods, for example, the easiest is to open an account directly online! Or you can go to designated branches, such as PTPTN branches, and various agencies, such as Maybank and other banks. After opening an account, if you want to deposit, you can also deposit directly online or go to an agent bank.
Note: In fact, SSPN is basically divided into 2 different plans, namely SSPN-i and SSPN-i Plus. If you choose an SSPN-i account, you can freely choose deposit and withdrawal. However, if you choose an SSPN-I Plus account, it is similar to a savings insurance plan. You must pay the relevant fees regularly every month, and part of the fee will be deposited in the account, and the other part of the fee will be used as an insurance fee, depending on the different packages.
Therefore, when people choose to open SSPN-I or SSPN-I Plus, they must be careful to make a choice.
