PTPTN: How to close SSPN account?

The 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