SSPN Savings Calculator Malaysia 2026
Plan your child's education savings — see projected balance, dividends, and tax relief
SSPN Savings Projection
Projected Balance at Age 18
RM 40,971
13 years of saving · RM200/month
Total Deposited
RM 31,200
Total Dividends
RM 9,771
Tax Savings/yr
RM 312
Total Tax Saved
RM 4,056
📊 SSPN vs Fixed Deposit vs ASB
| Product | Rate | Balance at 18 | Returns | Tax Relief |
|---|---|---|---|---|
| SSPN Prime | 4% | RM 40,971 | RM 9,771 | RM 4,056 |
| Fixed Deposit | 3.0% | RM 38,196 | RM 6,996 | None |
| ASB (Bumi only) | 5.75% | RM 46,466 | RM 15,266 | None |
🧾 Tax Relief Breakdown
Annual SSPN deposit: RM2,400 → Tax relief on RM2,400 (max RM8,000) → Save RM312/year in tax at 13% bracket. Over 13 years: RM4,056 total tax savings.
💡 SSPN Net Advantage over Fixed Deposit
SSPN gives you RM6,831 more than FD (dividends + tax savings combined). Your child's SSPN can cover approximately 100% of average 4-year IPTA tuition fees.
🎯 Recommendation
Deposit RM200/month from age 5 to reach RM40,971 by university age. Combined with PTPTN (up to RM10,000/year), your child can cover 100%+ of IPTA education costs.
📅 Year-by-Year Growth
| Year | Age | Deposited | Balance | Dividends |
|---|---|---|---|---|
| 2027 | 6 | RM2,400 | RM2,453 | RM53 |
| 2028 | 7 | RM4,800 | RM5,005 | RM205 |
| 2029 | 8 | RM7,200 | RM7,662 | RM462 |
| 2030 | 9 | RM9,600 | RM10,427 | RM827 |
| 2031 | 10 | RM12,000 | RM13,304 | RM1,304 |
| 2032 | 11 | RM14,400 | RM16,299 | RM1,899 |
| 2033 | 12 | RM16,800 | RM19,415 | RM2,615 |
| 2034 | 13 | RM19,200 | RM22,659 | RM3,459 |
| 2035 | 14 | RM21,600 | RM26,035 | RM4,435 |
| 2036 | 15 | RM24,000 | RM29,548 | RM5,548 |
| 2037 | 16 | RM26,400 | RM33,205 | RM6,805 |
| 2038 | 17 | RM28,800 | RM37,010 | RM8,210 |
| 2039 | 18 | RM31,200 | RM40,971 | RM9,771 |
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What is SSPN (Simpanan Pendidikan Nasional)?
SSPN Prime
- • Pure education savings account
- • Dividend: ~4% p.a. (historical average)
- • Tax relief: up to RM8,000/year
- • Minimum deposit: RM20
- • No age limit for depositor
SSPN Plus
- • Savings + takaful protection
- • Includes death/disability coverage
- • Same tax relief: up to RM8,000/year
- • Higher monthly commitment
- • Suitable for comprehensive protection
SSPN Tax Relief — How Much Do You Really Save?
| Tax Bracket | Annual SSPN Deposit | Tax Saved/Year | Tax Saved (13 yrs) |
|---|---|---|---|
| 8% | RM8,000 | RM640 | RM8,320 |
| 13% | RM8,000 | RM1,040 | RM13,520 |
| 21% | RM8,000 | RM1,680 | RM21,840 |
| 24% | RM8,000 | RM1,920 | RM24,960 |
* 13 years = from age 5 to age 18. Actual tax savings depend on your chargeable income and total relief claims.
SSPN vs Other Savings Products
| Feature | SSPN Prime | Fixed Deposit | ASB |
|---|---|---|---|
| Return rate | ~4% p.a. | ~3% p.a. | ~5.75% p.a. |
| Tax relief | Up to RM8,000/yr | None | None |
| Risk level | Low | Very low | Low-Medium |
| Liquidity | Moderate | High | High |
| Eligibility | All Malaysians | All | Bumiputera only |
| Purpose | Education only | Any | Any |
| Government-backed | Yes (PTPTN) | BNM guaranteed | PNB managed |
Tips to Maximise Your SSPN Savings
Start early
A newborn gets 18 years of compounding. Even RM100/month from birth grows to RM30,000+ by university age.
Max out tax relief
Deposit RM8,000/year to claim full tax relief. That's only RM667/month for maximum benefit.
Use lump sums for bonus
Deposit annual bonus, Hari Raya/CNY angpow, or tax refund into SSPN for faster growth.
Combine with PTPTN plan
SSPN for savings, PTPTN for loan backup. Together they cover most IPTA education costs.
Auto-debit monthly
Set up standing instruction so you never miss a deposit. Consistency beats amount.
Review annually
Check dividend rate announcement. Consider increasing deposit if income grows.
Frequently Asked Questions
What is SSPN and how does it work?▼
How much tax relief do I get?▼
What is the SSPN dividend rate in 2026?▼
Is SSPN better than fixed deposit?▼
Can I withdraw anytime?▼
Kalkulator Simpanan SSPN — Rancang Tabungan Pendidikan Anak Anda
Kalkulator percuma untuk merancang simpanan pendidikan anak melalui SSPN (Simpanan Pendidikan Nasional). Lihat unjuran baki, dividen, dan penjimatan cukai.
Kelebihan SSPN
- • Dividen ~4%: Lebih tinggi daripada FD biasa
- • Pelepasan cukai RM8,000: Jimat sehingga RM1,920/tahun
- • Selamat: Dijamin oleh PTPTN/kerajaan
- • Deposit minima RM20: Semua orang mampu mulakan
Tips Simpanan SSPN
- • Mulakan awal — anak baru lahir dapat 18 tahun kompaun
- • Deposit RM667/bulan untuk claim pelepasan cukai penuh RM8,000
- • Set auto-debit supaya tak terlepas deposit bulanan
- • Gabungkan dengan perancangan PTPTN untuk liputan penuh