Simpan SSPN Prime: SSPN-i Renamed

Simpan SSPN Prime is the new name of SSPN-i . So, will there be any change to this scheme?

New name same scheme

Actually, there is no change to the scheme except for the name. The benefits of Simpan SSPN Prime remain the same as SSPN-i.

To know the benefits of Simpan SSPN Prime, you can refer to this article.

Dividend

For 2020, Simpan SSPN Prime has given a 4% dividend. For its dividend history, you can also refer to this article.

Account opening

To open an account online, you can follow this link.

Although it has its own online portal, it states on the website that users are encouraged to open the account through Maybank, Bank Islam, Agrobank, Bank Rakyat and RHB Bank for faster processing. I am not sure of how fast or slow these two different methods will be but I think the official online portal would not be that slow.

If you have a child, I strongly recommend you to open this account if your tax liability is high (the tax relief is valid till 2024). It is also a good alternative to ASNB fixed price funds based on the ease of investment and recent dividend history. Nonetheless, you have to be aware that the return is only 4% (which is not guaranteed) and perhaps should not let it be your sole investment.