How to Check PPF Balance?

How to Check PPF Balance?

12 December, 2023

Imagine setting aside a small portion of your earnings over time to accumulate into a significant nest egg for your future needs. This is precisely the concept behind a Public Provident Fund, also known as a PPF. A PPF is a long-term savings scheme launched by the National Savings Institute, India in 1968. It provides you with an investment avenue that not only saves on taxes but also earns assured returns. This scheme can play a pivotal role in your financial planning by assisting you in building financial security for your future. You can get information on how to check PPF balance, below.

PPF Account – An overview

Public Provident Fund is a long-term investment option provided by the Indian government. It has a maturity period of 15 years. You can contribute a certain amount of money to their PPF account annually and get tax benefits under section 80C of the Income Tax Act, 1961. The interest rates offered on PPF are set by the government and revised periodically. You can open one PPF Account across the country, either with a bank or a post office.

PPF Balance

A crucial component to monitor in this scheme is your PPF balance. This represents the total amount accumulated in your PPF account at any given point in time. You can deposit a minimum of ₹500 and a maximum of ₹1.5 lakh, per financial year. You can make multiple deposits in multiples of ₹50.

Your PPF balance comprises the principal deposit amount and the accrued interest rate. While the interest is calculated monthly, it is deposited in your account at the end of the financial year. Interest is calculated on the lowest balance between the 5th and the end of the that month.

You can view your PPF balance online and offline.

How to check PPF balance online via bank portal?

You can open a PPF Account with a bank, preferably where you hold a Savings Account. Once you do, you can link it to your bank Account and access it via NetBanking or Mobile Banking. Here are the steps to check your PPF balance with HDFC Bank:

  1. Log into the HDFC Bank NetBanking or Mobile Banking portal with your customer ID and password.

  2. In the Account Summary, you can view the accounts linked to the customer ID. If you have a Savings Account with us, you can view the details in the Account Summary. Similarly, you can view your PPF Account under ‘Savings Scheme Account’.

  3. Click on ‘Savings Scheme Account’ option to expand. Here, you can check your PPF balance.

  4. Click on ‘View’ to get your account statement for Latest one year.

How to check PPF Account balance offline?

You can visit your bank branch to check the PPF balance offline.

All you have to do is visit the bank branch with your PPF passbook issued by the bank (Click here to check the nearest branch). Next, you need to update your passbook at the bank counter and check your balance.

3 Reasons why keeping tabs on your PPF balance is necessary

Thanks to online banking portals, you can track your PPF balance at any time, from anywhere. Here’s why you should track your balance frequently.

  • Better financial planning- By having access to your PPF balance at all times, you can better plan your finances to seamlessly achieve your goals. You can also view the statement and check your interest earnings.

  • Loan against PPF- You can get a loan against your PPF. However, there are various terms and conditions associated with the loan process. For instance, you can take a loan from 3rd year to 6th year of PPF & can avail Loan upto 25% of balance at the end of the second year that immediately precedes the year in which you have applied for the loan. Hence, checking your PPF balance is necessary if you want to avail of financing.

  • Clear idea about withdrawals- Since PPFs allow partial withdrawals after completion of five Financial years , excluding the year of account opening , you can monitor the balance in case of emergency withdrawals.

Bottom line

Managing and checking your PPF balance is a simple yet essential task. Whether it is online or offline, staying updated with your PPF balance and the associated rules and regulations facilitates informed decision-making in financial matters. Enjoy the perks of PPF Account and the convenience of banking with HDFC Bank. Get started here.

*The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. You are recommended to obtain specific professional advice from before you take any/refrain from any action. Investments are subject to changes in tax laws. Please contact a professional consultant for an exact calculation of your liabilities.

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