Sspn Dividend 2023 Payout Date: sspn Interest Rate History Announcement
What is the purpose of sspn account? The National Education Savings Scheme (SSPN) is a savings scheme that was introduced by the National Higher Education Fund Corporation (PTPTN) in 2004. This scheme is designed to encourage parents and guardians to make savings for their children to be used for pursuing higher education.
On the other hand, these savings are guaranteed by the Malaysian government, which was specially created for children’s education financing.
SSPN’s account is managed by PTPTN under the Islamic concept of “Wakalah Bil Istithmar”. By this means, all depositors who invested their savings in SSPN accounts are subject to this concept.
In addition, depositors are also entitled to save money for their children’s educational purposes, receive tax relief on current net savings up to RM8,000, be exempt from income tax and receive takaful protection for savings greater than RM1,000. Therefore, parents and guardians who open an SSPN account will enjoy various benefits as it is an all-in-one savings.
SSPN Dividend 2023 Payout Date
PTPTN has announced that dividend sspn dividend payout date for year end 2022 will be 3.05% of the total savings made by the depositors.
Individuals who have an active SSPN account will be entitled to receive dividends.
The sspn dividend payout date will be distributed, and checking can be done online through the SSPN official website starting on 6 April 2023.
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How To Open SSPN Account
SSPN accounts have been introduced with the aim of fostering the spirit of saving among parents for their future children’s education savings.
Parents and guardians who are interested in opening an SSPN account can make an online application through the SSPN official website.
Here are the steps to open an SSPN account;
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- Applicant needs to visit the SSPN official website at https://www.ptptn.gov.my as Figure 1.0.
- The applicant needs to choose the package available either SSPN Prime or SSPN Plus and click on the package provided by SSPN.
- Fill in the application forms with all the personal information completely.
- Choose the payment method provided by SSPN for monthly deductions.
- Read and tick on the terms and conditions.
- Click “Confirm”.
- Then, the applicant needs to make a minimum deposit of RM20 as registration payment.
- Finally, the application of opening SSPN account successful.
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How To Deposit SSPN Via Maybank2u
Deposits of SSPN monthly savings can be made through the Maybank2U apps. Depositing can be done through these steps;
- Log in into Maybank2U account at https://www.maybank2u.com.my as Figure 2.0.
- Click on the “Pay & Transfer” icon.
- Choose “Payee” and then, type PTPTN as a payee.
- Choose “PTPTN – SSPN-I Plus”.
- Fill in the savings amount, SSPN account number and phone number.
- Click on “Pay” button.
- Request TAC and fill in the TAC number correctly.
- Lastly, depositing in SSPN account is successful.
How To Check SSPN Dividend
The dividend received by depositors can be checked online through E-SSPN Online.
E-SSPN is designed to make it easier for depositors to deposit and check their SSPN account statement.
Below are the steps to check the SSPN dividend;
- Log in to your E-SSPN account; however, for new users, registration needs to be made first.
- Fill in your identification number and password to log in.
- Then, click on SSPN account number on the main page to check the current balance.
- Finally, the SSPN dividend will appear along with the current balance.
How Is Sspn Dividend Calculated
A total dividend for the entire year will be calculated based on the monthly balance.
All withdrawals or adjustments to the current account will be taken into account in the SSPN dividend calculation process.
Depositors that receive ptptn dividend payouts are based on the net returns on investments made in the SSPN calculation account.
Hence, the ptptn dividend is calculated through the SSPN dividend calculator, as shown in Figure 3.0 on https://www.ptptn.gov.my.
SSPN Interest Rate History For Last 5 Years
The Minister of Higher Education, YB Dato’ Seri Mohamed Khaled Nordin, has announced the dividend rate for 2022 is 3.05%.
An allocation of RM266.17 million will benefit the 5.73 million SSPN depositors.
Below is the list of sspn dividend history for the last 5 years;
| YEARS | SSPN INTEREST RATE |
|---|---|
| 2022 | 3.05% |
| 2021 | 3.00% |
| 2020 | 4.00% |
| 2019 | 4.00% |
| 2018 | 4.00% |
The table above shows that the sspn dividend history have remained consistent for the last 3 years, from 2018 to 2020.
Due to the COVID-19 pandemic, the dividend rates for 2021 is slightly decrease and start to slowly increase again by 2022.
Therefore, the return on investment plays a significant role in increasing the SSPN’s yearly dividend rates through the development of economics.
How Do I Withdraw Money From SSPN
Every savings that are made to an SSPN account is allowed to be withdrawn by the depositors through online and counter transactions.
Withdrawals online are much easier than those made through PTPTN counters.
The depositors need to make an online application through the SSPN’s official website. Below are the steps to withdraw savings from an SSPN account;
- Depositors need to log in to their account by entering their ID number and password.
- Click on the saving account from which you want to make a withdrawal on the menu page.
- The full balance of depositor savings will be displayed for withdrawal purposes.
- Choose the savings account to make withdrawals from and fill in the withdrawal information requested on that page.
- Lastly, click on “Submit” button to submit the withdrawal application.
How Many Days Will It Take To Get My SSPN Withdrawal
Only successful submissions of SSPN withdrawals shall be entitled to receive those savings.
Generally, the withdrawal process will take 14 working days to be credited into the depositor’s account.
However, a minimum of RM20 needs to be left in the account to be activated.