How to Check PPF Account Balance

PPF is one of the oldest and most popular investment schemes in the country. If you have a PPF account and want to know your account balance, read ahead.

What is a PPF Account?

Before we read about how to check PPF account balance, let us take a look at PPF accounts in general. 

PPF stands for the Public Provident Fund and it was made available to the public by the National Savings Institute in 1968. PPF is a long term investment plan which has considerable safety, tax benefits, and good returns. All these qualities make it a good option for small to medium savers.

PPF Account Balance Checking

A PPF account can be opened either online, from your bank, or from the post office. These are the same places where you can check your PPF account balance. 

We will look at the following ways of PPF account balance checking - 

• Online

• By visiting the post office

• By visiting the bank

Let’s take a look at all the methods one by one.

How to Check PPF Account Balance Online

If you are searching for ‘PPF account balance check’ and want to do it online, there are a few prerequisites to it. To check your PPF account balance online - 

• Your PPF account should be connected to your savings bank account

• Internet banking services should be activated for that bank account

• You will need to have a savings bank account at the same bank

If you have ticked all these points, then you can follow these steps to check your PPF account balance online - 

STEP 1: Login to your bank’s internet banking portal using your credentials.

STEP 2: Go over to the ‘Personal Banking’ section, and you will be able to enquire about your PPF account details. 

STEP 3: You can easily click on ‘Check PPF balance’ to check your balance.

STEP 4: In the same section, you can also check your past PPF transactions as well as any other matured or closed PPFs you might have.

How to Check PPF Account Balance by Visiting the Post Office

You check your PPF account balance by visiting the post office where you opened your PPF account. Note that PPF accounts can only be opened at specific post offices where the required facilities are available. 

To check your PPF account balance by visiting the post office, follow these steps - 

STEP 1: Visit the head post office or the sub-post office where you opened your PPF account.

STEP 2: Carry your PPF passbook with you, which was provided to you when you opened your account.

STEP 3: Update the passbook to know about your current PPF account balance, as well as all your transactions.

How to Check PPF Account Balance by Visiting the Bank

Checking your PPF account balance by visiting your bank branch is also an offline process. For this too, there are a few prerequisites - 

• Your PPF account should be connected to your savings bank account

• You will need to have a savings bank account at the same bank

Follow these steps to check your PPF account balance by visiting the bank - 

STEP 1: Visit the bank branch where you opened your PPF account.

STEP 2: Carry your PPF passbook with you, which was provided to you when you opened your account.

STEP 3: Update the passbook to know about your current PPF account balance, as well as all your transactions.

Rules of Withdrawal from a PPF Account

As PPF is a long term investment and savings scheme, there are some rules and regulations when it comes to withdrawing money from it. They are listed here below - 

• Your PPF account reaches maturity after 15 financial years of opening the account

• You can extend your account in blocks of 5 years as many times as you want, post maturity

• After maturity, you may choose to not withdraw the amount and retain it without any further deposits

• You can withdraw funds every year from your PPF account post the 7th financial year

• You can take a loan from the bank where you have opened your PPF account from the 3rd to the 6th financial year. The loan amount will depend on the total amount that has accumulated in your PPF account

Why Should You Check Your PPF Account Balance?

There are many benefits to checking your PPF account balance at regular intervals. Here are a few reasons - 

• As the interest earned in your PPF account fluctuates every quarter, checking regularly helps you keep a track of the interest you have earned 

• You can make a prediction about the corpus amount that will be available to you after maturity

• If you are facing a financial emergency, knowing how much you have accumulated in your PPF account, can help you plan a partial withdrawal or a collateral free loan

The PPF account is a very safe option to invest your money for your retirement. In most cases, the interest offered is a little higher than that of major bank’s Fixed Deposit interest rates. 

The amount of money you invest in your PPF account is exempted from taxes. Even the interest you earn or any withdrawals you make from the account are exempted from taxes. All of these points make PPFs a wise choice for retirement planning.