S S P N

SSPN is the Malay acronym for "Skim Simpanan Pendidikan Nasional", or the National Education Savings Scheme. It is a savings instrument for parents who are Malaysian citizens for the purpose of financial planning of their children's future tertiary education. Financial institutions that have been appointed to accept deposits are CIMB Bank, Bank Simpanan Nasional (BSN), Bank Pertanian and Bank Rakyat. The minimum deposit to open an account is RM20, with subsequent deposits of similar value upwards. You only need to bring a copy of your NRIC and your child's birth certificate, or NRIC. Also needed is a copy of your salary slip. Permanent residents and non-residents are not eligible. To learn more, click here (in Malay).