Savings
 
Advantages

  

DetailsSSPNBank (Education Savings Product)
Rate of dividends/profit

2004 – 3%

  2005 – 2007 - 4%

2006

  1.5% - 3.1%
PTPTN LoanersQualified to applyNone
Exemption of tax on savings Maximum up to RM3,000None
Exemption of tax on dividend/profits Tax exemptedNone
RisksNo risks – government guaranteeLow risk - depends on bank stability
Insurance

Maximum up to:

i. RM50,000 (General Insurance –Account opened by individual)

ii. RM100,000 (Trust Insurance -Account opened by head/management representative of orphanage)

None
Matching GrantMaximum up to RM10,000/familyNone