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PTPTN: How to close SSPN account?

By WJ C | Category: ,
PTPTN SSPNThe National Education Savings Scheme (Skim Simpanan Pendidikan Nasional, SSPN) was designed especially by the National Higher Education Fund Corporation to enable guardians or parents to save for the purpose of the higher education of their children. Previously, it was compulsory to open an SSPN account to apply for Perbadanan Tabung Pendidikan Tinggi Nasional (PTPTN) study loan. This rule has been abolished since two years ago.

Update 14/9/2011: SSPN account is compulsory again to apply for PTPTN from 2012 onwards.

But for those who have opened and deposited money into the SSPN account, how would one close the SSPN account and get back the money deposited? Personally speaking, the whole process is very troublesome and frustrating and might even take up to a few months to close it and get back the money especially if you apply for the matching grant (Tuntutan Geran Sepadan).

The documents that you need to prepare to close your SSPN account:
  • SSPN account closing form
  • Copy of depositor's MyKad (verified by official)
  • Copy of SSPN card (verified by official)
Submit your form and documents to PTPTN service counter at One Stop Center, KL Sentral or any PTPTN agents below:
  • Bank Simpanan Nasional
  • CIMB Bank Berhad
  • Agro Bank
  • Bank Kerjasama Rakyat Malaysia Berhad
  • Bank Islam Malaysia Berhad
  • Maybank
Wait and follow up by calling to PTPTN (PTPTN Hotline: 03 2080 4455). This is the most frustrating part as you have no way to track the progress of the account closure. Wish you all the best!

Link: http://www.ptptn.gov.my

5 comments so far.

  1. Anonymous Tuesday, June 14, 2011 8:15:00 pm
    I heard my friends said that if we closed the account after we finished our study ,the procedure will be much more easier.Is it true?
  2. Anonymous Tuesday, June 21, 2011 8:52:00 pm
    I would like to ask if I don't want to close it, is it okay? and it is like a bank that i can withdraw money ?
  3. Chong Tuesday, June 21, 2011 8:54:00 pm
    SSPN account doesn't work like normal banking account as you cannot withdraw more than 10% each time. It is very troublesome to close the account to get back all the money as you need to fill up the form and prepare necessary documents to apply for account closure.
  4. Chrysanthemum Monday, June 04, 2012 9:39:00 am
    If anyone knows where to download SSPN account closing form?? Thanks!
  5. Anonymous Wednesday, October 24, 2012 4:01:00 pm
    the sspn closing form is a carbon copy. so u have to go to their agents or the one stop centre in kl sentral to get it...

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