SSPN-i Plus is a savings product provided by PTPTN to help parents plan for their children’s education.
A MERCEDES Benz C200 FL AMG Line is up for grabs in the National Higher Education Fund Corporation’s Cabutan WOW! SSPN-i Plus 2020 which offers RM1mil worth of prizes.
The corporation which is better known by the acronym PTPTN (Perbadanan Tabung Pendidikan Tinggi Nasional) is offering a car as well as cash prizes in the draw, in line with its objective to encourage parents to save early for their children’s future.
SSPN-i Plus is a savings product provided by PTPTN under the National Education Savings Scheme (Skim Simpanan Pendidikan Nasional, or SSPN) to help parents plan for their children’s education.
The Cabutan WOW! is to encourage people to save in SSPN-i Plus.
Cabutan WOW! SSPN-i Plus 2020, launched on July 14, features two draws – monthly and annual.
From July till December, every month there will be 20 winners who will each receive RM2,020.
The annual draw at the end of the year will offer the Mercedes Benz as main prize, RM50,000 cash as second prize, and RM30,000 cash as third prize.
Besides these three lucrative prizes, 1,000 winners will receive a consolation prize of RM500 each.
According to PTPTN, all SSPN-i Plus depositors are eligible to take part in Cabutan WOW!
Depositors need to open an account or make additional savings during the Cabutan WOW! period and ensure their account stays active and there are no arrears in deposits.
Every RM50 in savings gives a depositor a draw chance in Cabutan WOW! and there is no limit to the number of chances.
SSPN-i Plus offers more benefits as it is an improved product over the previous SSPN-i.
With a RM30 package or as low as RM1 a day, the depositor gets to enjoy the many benefits of SSPN-i Plus.
Parents, adoptive parents or legal guardians who save in SSPN-i Plus will get tax exemption of up to RM8,000.
There will be extra tax exemption of RM3,000 for takaful contributions from non-civil servants, and RM7,000 for civil servants.
SSPN-i Plus offers up to RM1mil death/permanent disability benefits for takaful depositors.
The SSPN-i Plus savings packages are shariah-compliant and guaranteed by the Government, with competitive dividend rates, income tax exemption and eligibility to apply for PTPTN loan.
There are six savings packages under SSPN-i Plus.
The Intan package is affordable – as low as RM1 savings a day. One gets to enjoy all the benefits just by depositing RM30 per month.
There’s also the Delima (RM50 per month), Topas (RM100 per month), Zamrud (RM200 per month), Nilam (RM300 per month) and Berlian packages (RM500 per month).
To open an account for an adopted child, the adoptive parents or guardians need to submit a statutory declaration or child adoption certificate.
SSPN-i Plus account holders are required to activate salary deduction or auto debit to avoid arrears of monthly deposits.
Meanwhile, insurance and takaful companies in the country have been introducing funds for Covid-19 screening in aid of policyholders.
PTPTN is concerned about the pandemic’s impact and has allocated a special fund of RM100,000 as takaful protection for SSPN-i Plus depositors in case of infection.
This fund provides a one-time hospital admission allowance of RM100 and additional death benefit of RM50.
The claim period is between April 1 and Sept 30 this year, and up to RM100,000.
For more details on SSPN-i Plus, visit www.lovesspn.com, go to any PTPTN counter, or call the PTPTN Careline (03-2193 3000).
