Check PPF Account Balance Online & Offline

To check your PPF balance, log in to the official website or give a missed call to 9223766666 from the registered mobile number.
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Check PPF Account Balance
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4 mins
24 December 2024

Monitoring the balance of your Public Provident Fund (PPF) account is a very important aspect of maintaining financial awareness and security.

As a long-term savings tool, the PPF offers stability and tax advantages. However, staying informed about your account balance is essential for making informed decisions regarding your financial goals. This guide focuses on providing a simple approach to check your PPF balance both online & offline.

Pro tip

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What is Public Provident Fund (PPF)?

Reasons to Check PPF Account Balance

1. Monitor Savings Progress

Checking the PPF account balance regularly helps individuals to monitor their savings progress. It helps individuals to determine how much they have saved and how much more they need to achieve their savings goals. By monitoring their savings progress, individuals can adjust their saving habits or PPF contributions.

2. Track Interest Earnings

PPF is a fixed-income instrument that offers a high rate of interest, which is calculated and compounded annually. Checking the PPF interest rate and  PPF account balance regularly can help individuals track the interest earned on their PPF investment. This can help individuals to estimate their earnings and plan their finances accordingly.

3. Plan Withdrawals

PPF comes with a fixed lock-in period of 15 years, which means that the account can only be withdrawn on maturity. Checking the PPF account balance regularly can help individuals plan their withdrawals in advance. Withdrawals can only be made after the completion of the lock-in period, so keeping track of the tenure and the balance in the account is essential.

Fixed deposit variants

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New Product

FD Max

INTEREST RATES UP TO
8.85% p.a.
Invest Online

Digital FD Only on App/Web

INTEREST RATES UP TO
8.85% p.a.
Invest Online

42 months

INTEREST RATES UP TO
8.85% p.a.
Open FD

FD - Age below 60

INTEREST RATES UP TO
8.60% p.a.
Open FD

FD - Senior Citizen

INTEREST RATES UP TO
8.85% p.a.
Open FD

FD – Special Tenure

INTEREST RATES UP TO
8.85% p.a.
Open FD

Steps to check PPF account balance

You can check your Public Provident Fund (PPF) account balance online, offline, or at the post office:

Step1: Online method

  • Log in to your bank’s online banking portal.
  • Go to the accounts or deposits section to find your PPF account.
  • Click on your PPF account to get your current balance.

Step 2: Offline method

  • Visit the bank branch where you have opened your PPF account.
  • Provide your PPF account number and other necessary details to the bank official.
  • The bank official will provide you with your current PPF account balance. You can also check your PPF account balance by updating your passbook.

Step 3: Post Office method

  • Visit the post office where you have opened your PPF account.
  • Provide your PPF account number and other necessary details to the post office official.
  • The post office official will provide you with your current PPF account balance. You can also check your PPF account balance by updating your passbook at the post office.

Additional Read: How to Withdraw PF Amount Online in 5 Simple Steps

Why is it important to check your PPF account balance

Regularly checking your PPF account balance is crucial for several reasons:

  1. Track investment growth: Checking your balance allows you to monitor the growth of your investment and track the impact of your contributions on your overall savings.
  2. Verify accrued interest: You can verify the calculation of PPF interest credited to your account, ensuring accuracy and identifying any discrepancies.
  3. Plan for future withdrawals: Checking your balance helps you plan for partial withdrawals or maturity proceeds, ensuring you have sufficient funds available when needed.
  4. Assess loan eligibility: PPF accounts allow for loans against the accumulated balance. Checking your account balance helps you determine your loan eligibility and the amount you can borrow.
  5. Monitor account activity: Regular checks can help you detect any unauthorized transactions or discrepancies in your account activity.
  6. Stay informed about your investments: Staying informed about your PPF account balance helps you make informed decisions about your overall financial planning and investment strategy.
  7. Ensure account security: Checking your balance helps you ensure the security of your account and detect any suspicious activity that might indicate a security breach.
  8. Maintain financial discipline: Regularly reviewing your PPF account balance can help you stay disciplined with your savings goals and encourage consistent contributions.
  9. Peace of mind: Knowing your current PPF account balance provides peace of mind and allows you to confidently plan for your future financial needs.

What are the Options Available to Individuals on their PPF’s Maturity?

  • Firstly, they can close the account and withdraw the entire balance along with the interest earned, tax-free.
  • Secondly, they can extend the account for another 5 years without making any additional contributions. This is the default option if the account holder neither closes the account nor extends it with contributions.
  • Thirdly, they can extend the account for another 5 years with additional contributions.

How to build a good corpus in PPF account?

  • Make consistent and regular contributions to your PPF account. The more you contribute, the faster your corpus will grow.
  • PPF follows a compounding interest model. Leave your contributions untouched to benefit from compounded returns, allowing your corpus to grow exponentially over time.
  • PPF has a fixed tenure of 15 years which can be extended to 5 more years. Stick with the investment for a long term to get the most and to ensure your savings grow steadily.
  • Instead of withdrawing the interest earned, reinvest it back into the PPF account. This accelerates the compounding effect, contributing to a larger corpus.
  • Leverage the tax benefits offered by PPF. Since PPF follows the EEE (Exempt-Exempt-Exempt) model of taxation, which means that the principal amount, interest earned, and maturity amount are all exempt from taxes & your corpus grows without the burden of taxation.
  • Although PPF lets you take out some money from the 7th year, avoid unnecessary withdrawals to keep your savings grow.
  • Regularly monitor your PPF account statements. Stay informed about the changes in PPF interest rates and government policies and adjust your contributions ensuring they align with your overall financial plan.

Conclusion

In conclusion, actively monitoring your PPF account balance is not just a routine task but a strategic move for financial empowerment. From leveraging loan facilities to optimizing tax benefits and navigating maturity decisions, staying informed is key. This simple practice ensures that your PPF investments align with your evolving financial goals.
 

Calculate your expected investment returns with the help of our investment calculators

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Frequently Asked Questions

Can I check PPF balance through an SMS?

Yes, just sign up for SMS banking with your bank and send a message from your registered mobile number to get your PPF balance.

Is it possible to avail a loan against the PPF account?

Yes, if you have a PPF account, you can get a loan of 25% of the balance at the end of the second year. This option is available from the third to the sixth year after opening the account.

Is it mandatory to submit the PAN number when opening a PPF account?

Yes, it is mandatory to submit your PAN number when opening a PPF account.

Can I transfer money to a PPF account online?

Yes, online transfers are permitted for PPF accounts. You can transfer funds from your bank account to your PPF account using electronic methods.

Can a PPF account be closed before 15 years?

While premature closure is not allowed before 15 years, certain conditions such as serious illness or higher education expenses may permit early withdrawal.

How can I check my PPF balance through UAN number?

You can check your PPF balance using your UAN by sending an SMS to 7738299899 from your registered mobile number. The format of the SMS should be: EPFOHO UAN (where UAN is your Universal Account Number).

Can PPF be withdrawn?

Yes, partial withdrawals are allowed from the 7th year onwards, subject to specific conditions and limits.

Can we withdraw PPF money online?

Online withdrawal facilities may vary among banks and post offices. Check with your financial institution for their specific online withdrawal options.

What is the minimum lock-in period for PPF accounts?

The minimum lock-in period for a PPF account is 15 years. However, partial withdrawals are allowed from the 7th year onwards.

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Disclaimer

As regards deposit taking activity of Bajaj Finance Ltd (BFL), the viewers may refer to the advertisement in the Indian Express (Mumbai Edition) and Loksatta (Pune Edition) furnished in the application form for soliciting public deposits or refer https://www.bajajfinserv.in/fixed-deposit-archives
The company is having a valid Certificate of Registration dated March 5, 1998 issued by the Reserve Bank of India under section 45 IA of the Reserve Bank of India Act, 1934. However, the RBI does not accept any responsibility or guarantee about the present position as to the financial soundness of the company or for the correctness of any of the statements or representations made or opinions expressed by the company and for repayment of deposits/discharge of the liabilities by the company.

For the FD calculator the actual returns may vary slightly if the Fixed Deposit tenure includes a leap year.