PTPTN gives loyalty rewards to SSPN-i depositors

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The National Higher Education Fund Corporation (PTPTN) is paying out an additional 1% loyalty reward to long-term depositors of the National Education Savings Scheme (SSPN-i).

According to PTPTN chairman Datuk Wan Saiful Wan Jan, this reward can be enjoyed by SSPN-i depositors who have a minimum accumulated savings of RM500 during the promotion period.

“The promotion period will start from February 24, 2021 until April 30, 2021, and depositors who opened an SSPN-i account before 2018 are eligible to receive this reward,” he said.

This is the third year that depositors have been able to enjoy the loyalty reward, which is an additional grant on top of the existing annual dividend of 4%.

Wan Saiful said that the estimated RM201.3 million distribution will benefit 4.82 million SSPN account depositors. To date, the total dividend distribution is RM856.6 million since SSPN was first introduced.

“The dividend is based on the net return on investments made with deposits received by PTPTN.”

Is it also a result of implementing short-term and long-term shariah-compliant investment methods in the local money market, which protects the principal while providing high and positive returns or profits.

Additionally, Wan Saiful encouraged the practice of saving for education as an instrument to face the rising cost of living.

“Therefore, PTPTN hopes for SSPN-i to be the main choice among Malaysians as an education savings account and early financial planning platform for children’s future education,” he said.

Based on the collections in 2020, PTPTN managed to break a new record for deposits, recording the highest ever total savings of RM1.99 billion.

Apart from that, SSPN also offers various benefits, including tax assessment relief of up to RM8,000 per year for net savings as well as competitive dividend payments.

This year, PTPTN will continue existing campaigns such as Cabutan WOW! SSPN-i Plus, Kempen Jom Beraya Jom Menyimpan and Kempen Bulan Menabung SSPN. Campaigns like these have become synonymous with PTPTN, with various prizes being offered.

For more information, depositors can make additional contributions online by visiting www.lovesspn.com, PTPTN branch counters or through an appointed legal agent.

Written by: Nur Amirah Abd Rani 

This article originally appeared on Harian Metro with rights to be republished on The Malaysian Reserve.