SSPN Prime VS SSPN Plus Account
SSPN Official Website
If you search on Google, there are a lot of websites related to SSPN Account opening. You may visit SSPN official website to open your account as below:
1. https://online.sspn.my/ – For 1st time User New Account Opening
2. https://lovesspn.com/ – After done New Account Opening, use this link to Register as New User and Online Account Login & Account Checking
What is SSPN account?
The National Education Savings Scheme (Skim Simpanan Pendidikan Nasional SSPN) is a savings scheme specially designed by the National Higher Education Fund Corporation (PTPTN) for the purpose of saving money for higher education.
Why do you need SSPN Account?
SSPN is a tax-advantaged way to save for your child’s higher education. As long as the SSPN returns remain over 4% and you don’t mind your money being tied down in the SSPN account. Tax relief is the main benefit of opening SSPN account, especially if your taxable income is at least RM35,000 or more (above RM2,916 monthly).
SSPN Tax Relief
For year 2021, maximum tax relief for savings in SSPN is RM8000.00. If your tax bracket is 20%, as a rough estimation, you would save RM8000 x 20% = RM1600.00 in tax(This is only rough estimation, for accurate calculation, please refer to LHDN website).
Can Husband and Wife Open Separate Account for the Same Child?
Yes, can, this is normally done for tax relief purposes. Husband opens an account and wife opens another account for the same child.