PPF, or public provident fund, is a government-backed investment with a 15-year maturation period. It is the preferred investment option for millions of Indians since it ensures risk-free rewards and is tax-free. Because this investment is made over a lengthy period of time, a PPF Balance Check should be performed frequently. Your PPF balance is currently available both online and offline. Go to the nearest bank branch to check your PPF account balance. To learn more about the PPF Account Balance Check, read the information below in detail.
PPF Balance Check Highlights
|Full Form||Public Provident Fund Balance|
|Beneficiaries||PPF Account Holders|
|Methods to Check PPF Balance||Offline Mode at a Bank|
Online Net Banking
PPF Account Balance Check
The Public Provident Fund is one of the most profitable options for tax-saving investing available today (PPF). With a 7.1% annual compound interest rate as of right now, a PPF programme offers the potential to build a significant cash reserve over time. A minimum investment of Rs. 500 and a maximum investment of Rs. 1.5 lakhs each financial year are required to start a PPF account. As money cannot be withdrawn prior to maturity, it is advised that the PPF passbook be reviewed once a month to get an overview of the amount deposited to the account and the total available balance.
Benefits of Checking PPF Balance
Some of the key benefits of a PPF Account Balance Check are as follows:
- The amount of interest earned on each investment might easily be ascertained by someone who frequently checks the balance of his PPF account. The Finance Ministry states that this rate could change every three months.
- The interest rate changes throughout the financing. This interest is credited to the user’s PPF account at the end of each fiscal year.
- By routinely checking the PPF account check balance, it is possible to predict the corpus that will be received once an account matures.
- After five years of PPF investment, a partial withdrawal is an option. As a result, monthly checks on the PPF balance will reveal how much money a person will obtain following the withdrawal.
- The most important aspect of the PPF balance check may be the availability of funds in times of need.
- The individual is eligible to receive funds equal to 25% of the outstanding PPF amount in the second year before the credit application period.
- One can borrow money against the PPF balance without putting up any collateral to pay for their basic needs. A borrower has three to six fiscal years to apply for this loan.
PPF Account Balance Check Methods
The various methods to Check PPF Balance are as follows:
- PPF balance check through offline mode at a bank
- PPF balance check through online net banking
- PPF balance check through the post office
PPF Account Balance Check Procedure through Offline Mode at a Bank
If you have a PPF account with any banking institution but have not activated net banking, you can still check your PPF balance offline by going to the bank and updating your passbook. The procedure to check PPF balance through offline mode at a bank is as follows:
- A passbook is given to you when you open a PPF account with a bank.
- Your PPF account number, debits and credits to your PPF account, bank branch information, and the balance of your PPF account are all included in this passbook
- To have your PPF account passbook updated, you’ll need to regularly stop by the bank branch.
- The passbook will display the current amount and show you every transaction that was made on the PPF account in detail.
PPF Account Balance Check Online Through Net Banking
The procedure to check PPF balance through online Net Banking is as follows:
- Your PPF account and your current bank savings account must be linked. In some cases, banking organizations only permit you to open a PPF account if you already have a savings account.
- Verify that you have a bank account with a functional net banking system.
- You must sign up using your net banking credentials to access the details of your various accounts, including the PPF account.
- You can see your current PPF account balance after logging in.
- The digitalized transfer of cash into your PPF account, setting up ongoing security procedures for your PPF account, downloading PPF balance check statements, and other extra features and services are some of the extras available via net banking.
Procedure to Check PPF Balance through Post Office
The Procedure to check the PPF balance through Post Office is as follows:
- Only in sub-post offices or head post offices, where this service is available to everyone, can PPF accounts be opened.
- You’ll need your PF account number and establishment code to check your PPF account balance, and the information is displayed on the page
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