How to check PPF balance online and offline?

The Public Provident Fund (PPF) is considered one of the most lucrative options for tax-saving investment available in the market. With a current interest rate of 7.1% compounded annually, a PPF scheme offers an opportunity to create a strong financial cushion in the long term. An individual can start investing in a PPF account with a minimum investment of Rs.500 and can invest up to a maximum of Rs. 1.5 lakhs in a financial year.

As one cannot withdraw money before maturity, thus, it is advised that the PPF passbook be reviewed once a month to get an overview of the amount added to the account and the total available balance.

This blog will explain how to check PPF balance online and other methods to do so.

How to Check the PPF Balance Online?

It is simple to check your PPF balance online by following the steps outlined below:

It is necessary to link your existing bank account to your PPF account
Net banking should be enabled in order to check PPF balance online
Next, access the bank’s internet banking portal
Find a section where you can check your PPF balance and status

Note

The process to check PPF balance might vary from one bank to another bank online
If the net banking facility has not yet been activated, it is recommended that it be done as soon as possible.
It is advised that you link your existing bank account to your PPF bank account in order to perform various banking transactions.

How to Check PPF Balance Offline?

The steps to check PPF balance offline are as follows:

Visit the respective bank’s branch where you opened your PPF account
Connect with the banking personnel to get the PPF passbook updated
The PPF passbook will provide an overview of everything, including transaction details, current PPF balance, etc

Note

When you open a PPF account with the bank, you will be given a passbook. The passbook contains all of the information, such as the PPF account number, bank branch information, account balance, transaction details, and so on.

How to Check PPF Balance through the Post Office?

People in remote and rural areas continue to have limited access to banks and banking services. In such cases, post offices are set up to provide them with all of the banking services they require, including the ability to open a PPF account. If you open a PPF account with a post office, you can check the PPF balance by following the instructions-

You will be given a passbook when you open a PPF account with the post office
To check the PPF balance, have the passbook updated on a regular basis
The passbook contains all PPF-related information, such as the PPF account number, number of transactions, total balance, and so on

Is it Important to Check the PPF Balance?

It is a good habit to check the PPF balance for the following reasons:

By checking the PPF balance, you will be able to determine how much interest you will earn at the end of the fiscal year
PPF interest rates change every quarter, so it’s important to know what you’re getting for your deposited amount
Checking the PPF balance on a regular basis will allow you to determine how much you can partially withdraw in the event of an emergency or urgency
A look at the PPF balance will show you how much loan you can get against the PPF balance

FAQs

What is the current interest rate offered on the PPF account?

The current interest rate offered is 7.1% per annum which is effective from 1st April 2021.

Is it possible to open a PPF account with any bank?

Yes, you can open a PPF account with any of the participating banks.

Can I open multiple PPF accounts under my name?

No, an individual may only have one PPF account in his or her name. Multiple accounts will be deemed invalid.

Can I access my PPF account by using internet banking?

Yes, you can access your PPF account through internet banking; however, you must first link the PPF account to an existing savings or current account.

Can I withdraw my PPF amount?

Yes, you can withdraw 50% of your PPF balance only after 6 years.

What is the PPF account lock-in period?

The PPF account has a 15-year lock-in period.

Is it possible to open a joint PPF account?

No, there is no option for a joint PPF account. An individual can only have one PPF account in his or her name.

Priyanka Juyal

Priyanka Juyal- a Writer with a curious mind & vision to create the best out of words. Other times, see her playing the guitar, sketching or narrating folk tales!