PTPTN – SSPN-i

The National Education Savings Scheme (SSPN-i) is a scheme or savings instrument specially designed by the National Higher Education Fund Corporation (PTPTN) for higher education purposes and to encourage parents / guardians to make savings for their children’s higher education.

Benefits

Eligible to apply for children’s education financing;
Tax exemption on the current year’s nett savings of up to RM8,000 per year for accounts opened on behalf of your child/adopted children as beneficiaries; (Effective: Year of Assessment 2019 and 2020);
Free Takaful Protection on depositor with savings more than RM1,000;
Competitive dividend rates and exempted from income tax; and
Savings are guaranteed by the government.

SSPN-i Services Provided by Bank Islam

SERVICES	CHANNELS
SERVICES	BANK ISLAM BRANCH	ATM	CDM	INTERNET BANKING
SSPN-i Account Opening	✓
SSPN-i Account Linkage and De-Linkage	✓	✓		✓
SSPN-i Balance Enquiry		✓	✓	✓
Cash Withdrawal from SSPN-i Account		✓
Cash Deposit to SSPN-i Account	✓		✓
Transfer between
i. Bank Islam to SSPN-i		✓		✓
ii. SSPN-i to Bank Islam		✓		✓
iii. SSPN-i to SSPN-i		✓		✓

Documents Required

SSPN-i Account Opening

BANK ISLAM BRANCH
Completed SSPN-i Account Opening Application Form; Copy of MyKad/Military Card/Police Card of the depositor; and Copy of MyKid/Birth Certificate/MyKad of the child or Certification of Adoption (if the SSPN-i account is meant for an adopted child).

Notes:

i. Eligibility to Opening Account

Category 1:
Malaysian citizen aged 1 day old until 18 years old, account can be opened by parents/legal guardian.

Category 2:
Malaysian citizen aged below 18 until 29 years old, customer is given a choice to open the account under his/her own name or it can be opened by their parents/guardian.

Category 3:
Malaysian citizen aged 29 years old and above must open the individual account.

ii. Minimum deposit amount for account opening is RM20

iii. Criteria for linkage of SSPN-i Account to Bank Islam Debit Card-i/ATM

BANK ISLAM BRANCH	BANK ISLAM ATM OR INTERNET BANKING
MyKad; Bank Islam Debit Card-i/ATM; and SSPN-i Account Linkage Form	Bank Islam Debit Card-i/ATM; and SSPN-i Account Number

Fees and Charges

SERVICES	FEES PER TRANSACTION
SERVICES	OVER-THE-COUNTER	ATM	CDM	INTERNET BANKING
SSPN-i Account Opening	Nil
SSPN-i Account Linkage and De-Linkage	Nil	Nil		Nil
SSSPN-i Account Balance Enquiry		Nil	Nil	Nil
Cash Withdrawal from SSPN-i Account		RM0.50 will be charged from SSPN-i
Cash Deposit to SSPN-i Account	Nil		Nil
Transfer between
i. Bank Islam to SSPN-i		RM0.50 will be charged from Bank Islam		RM0.50 will be charged from Bank Islam
ii. SSPN-i to Bank Islam		RM0.50 will be charged from Bank Islam		RM0.50 will be charged from Bank Islam
iii. SSPN-i to SSPN-i		RM0.50 will be charged from Bank Islam		RM0.50 will be charged from Bank Islam

Transaction Limit

SERVICES	MAXIMUM TRANSACTION LIMIT PER DAY (RM)
SERVICES	BANK ISLAM BRANCH	ATM	CDM	INTERNET BANKING
Cash Withdrawal from SSPN-i Account	Not applicable	RM5,000*	Not applicable	Not applicable
Cash Deposits to SSPN-i Account	Unlimited	Not applicable	Unlimited	Not applicable
Transfer between Bank Islam to SSPN-i Account	Not applicable	RM30,000*	Not applicable	RM50,000*
Transfer between SSPN-i Account to Bank Islam				RM50,000*
Transfer between Own/Child SSPN-i Account				RM1,000,000*

Notes:

i. Minimum transfer amount

Funds transfer from SSPN-i Account to Bank Islam – RM10
Funds transfer from Bank Islam to SSPN-i Account – RM2

ii. Maximum transfer amount

As per ATM daily funds transfer limit subject to default limit by Bank Islam or any limit which has been set by customer but not more than RM 30,000 (including transfer within Bank Islam Account, Interbank GIRO (IBG), Instant Funds Transfer (IBFT), SSPN-i, and Tabung Haji

iii. ATM withdrawal amount

Minimum amount: RM10
Maximum amount: As per current daily ATM funds withdrawal limit, which is RM5,000 (including daily withdrawal limit from Bank Islam account, SSPN-i and Tabung Haji account)

iv. All account balances in SSPN-i account will be updated on real-time basis. However, the deposited/transferred funds can only be utilised on the next day

v. Minimum balance of RM20 has to be maintained in your SSPN-i Account

vi. *denote daily combined limit with other services in respective channels

Operational Hours

(A) Bank Islam branches

All States (except Kelantan and Terengganu)

Monday to Thursday	9:30 am – 4:30 pm
Friday	9:30 am – 12:30 pm
Friday	2:30 pm – 4:30 pm

Kelantan and Terengganu

Sunday to Thursday

9:30 am – 4:30 pm

(B) SSPN-i services at Bank Islam ATM/CDM or Internet Banking: 6:00 am – 12:00 midnight

FAQ

Click here to download FAQ

Click here to download FAQ (Internet Banking)

Contact Us

For enquiries, please contact:

Bank Islam Contact Centre at 03-26 900 900 or
PTPTN Contact Centre at 03-21 933 000