If you’re seeking financial assistance for your child’s education, particularly for their university studies after completing SPM, this article might be of interest to you.
You can learn how to withdraw SSPN in a simple step-by-step guide. For the Bahasa Melayu version, please read cara keluarkan duit SSPN.
Withdrawal of SSPN and SSPN-i
How to withdraw SSPN?
To withdraw SSPN (Skim Simpanan Pendidikan Nasional) in Malaysia, follow these steps:
- Visit the nearest National Education Savings Scheme (SSPN) service provider or authorized bank. These include Bank Simpanan Nasional (BSN), Maybank, CIMB, RHB Bank, and Bank Islam.
- Bring along your identification documents such as MyKad (Malaysian Identification Card) or passport for verification purposes.
- Inform the service provider that you would like to make a withdrawal from your SSPN account.
- Fill out the necessary withdrawal form provided by the service provider. You may need to provide details such as your account number, identification number, and the amount you wish to withdraw.
- Submit the completed form to the service provider along with any required supporting documents. The supporting documents may vary depending on the reason for withdrawal. For example, if you are withdrawing for education purposes, you may need to provide proof of enrollment or payment.
- Wait for the withdrawal request to be processed. The processing time may vary depending on the service provider, but it typically takes a few working days.
- Once the withdrawal is approved, the funds will be transferred to your designated bank account. Ensure that you provide accurate bank account details during the withdrawal process.
- Check your bank account to confirm that the funds have been successfully transferred.
Note: It is important to keep track of the withdrawal limits and any penalties or charges associated with SSPN withdrawals.
Some withdrawals may be subject to certain conditions or restrictions, so it is advisable to consult with the service provider or refer to the SSPN guidelines for more information.
Can I withdraw SSPN at Maybank?
Yes, you can withdraw your SSPN (Skim Simpanan Pendidikan Nasional) savings at Maybank.
Maybank is one of the approved banks in Malaysia where you can withdraw your SSPN savings.
You can visit any Maybank branch and inquire about the withdrawal process for SSPN.
Can I withdraw SSPN online via PTPTN portal?
Yes, you can withdraw your SSPN savings online through the PTPTN portal.
To do so, you will need to log in to your PTPTN online account and navigate to the Permohonan Pengeluaran section.
From there, you can select the withdrawal option and follow the instructions to complete the process.
What is the SSPN withdrawal age for my child?
The SSPN (Skim Simpanan Pendidikan Nasional) withdrawal age for your child depends on the specific terms and conditions set by the institution managing the SSPN account.
Generally, the SSPN account can be withdrawn when your child reaches the age of 18.
However, there might be variations or additional conditions set by the institution, so it is advisable to contact the SSPN institution directly for accurate and up-to-date information regarding the withdrawal age for your child.
What are the SSPN withdrawal criteria?
Yes, there are certain criteria for withdrawing funds from the SSPN (Skim Simpanan Pendidikan Nasional) scheme in Malaysia. The main withdrawal criteria include:
- Maturity Period: The funds in SSPN can only be withdrawn after the maturity period, which is typically after a minimum of 12 months from the date of the first deposit.
- Age: The account holder must have reached the age of 18 to be eligible for withdrawal. If the account is opened for a child, the withdrawal can be made by the parent or guardian on behalf of the child after the child turns 18.
- Purpose: Withdrawals from SSPN can only be made for specific educational purposes, such as higher education expenses, tuition fees, books, or related educational expenses.
- Supporting Documents: The account holder or the parent/guardian must provide relevant documents, such as admission letters, fee invoices, or other proof of educational expenses, to support the withdrawal request.
It’s important to note that these criteria may vary and it is advisable to refer to the official guidelines or contact the SSPN authorities for the most accurate and up-to-date information regarding withdrawal eligibility and procedures.
Can I withdraw SSPN for my child aged 17 to enter university?
In general, the SSPN is a savings scheme designed to help parents save for their child’s higher education. The funds in the SSPN account can be withdrawn for educational purposes, including entering university.
Typically, withdrawals from the SSPN account are allowed when the child reaches the age of 18 or when they receive an offer to pursue higher education.
However, there may be certain conditions and limitations on the withdrawal, such as the need to provide supporting documents from the university or college.
To get accurate information about your specific situation, you can contact the Perbadanan Tabung Pendidikan Tinggi Nasional (PTPTN) or the institution where you have opened the SSPN account.
They will be able to provide you with the necessary details and guide you through the withdrawal process for your child’s education.
What is the SSPN withdrawal limit?
The SSPN (Skim Simpanan Pendidikan Nasional) withdrawal limit refers to the maximum amount that can be withdrawn from an individual’s SSPN account.
The withdrawal limit for SSPN is subject to certain conditions and regulations set by the relevant authorities.
Correct me if I’m wrong, the withdrawal limit is currently set at RM5,000 per year for higher education purposes.
However, it is advisable to check with the SSPN authorities or the relevant financial institution for the most up-to-date withdrawal limit information.
Can I withdraw SSPN anytime?
No, you cannot withdraw funds from the SSPN (Skim Simpanan Pendidikan Nasional) anytime you want.
SSPN is a savings scheme designed explicitly for education purposes in Malaysia. The funds deposited in SSPN are intended to be used for higher education expenses.
Withdrawals can only be made for education-related purposes such as tuition fees, educational expenses, or for a student’s education after finishing SPM, STPM, or equivalent qualifications.