I made my calculation using simple arithmetic calculation based on the following formula. If I have the wrong formulation, please let me know and I shall correct it. I am after all not a very huge fan of numbers
To my knowledge, I have not come across the publication of the dividend rates in the SSPN or PTPTN official website. Thus I do not know if there is any difference in dividend rates based on the account balance. We do all know that most banks provide difference interest rates for different account balance and/or account types at the end of each calendar month. Does this apply to SSPN or not, I do not know this either.
By looking at the table above, it is quite obvious that saving with SSPN is not really a good choice as at the moment most banks offer higher interest rates for school going children. In addition to that, some banks offer cash incentive for account holders who score A(s) in their standard 6 UPSR examination. The only reason I open an SSPN account for my daughter is the tax relief I get. Otherwise, I think it would be a better decision to save with a bank.
For those of you who are interested to know the subsequent years of dividend rates, you can check back this blog post next year. I will update this particular page annually. HOWEVER, please know that SSPN IS an extended arm of the government body hence their rapidity in tabulating the dividend for all members is just... typical government pace. So even though the dividend are given out on January 1 (as per statement) but the updates will not occur until March or April. In simple words, "If you want to know 2013 dividend rates, come back in April 2014 onwards, comprendre?"