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Check PPF Account Balance:-
PPF, or public provident fund, is a government-backed investment with a 15-year maturity period. It is the preferred investing choice 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 often. Your PPF balance is currently available both online and offline. To learn more about the PPF Account Balance Check, read the material below in full.
Check PPF Account Balance
The Public Provident Fund (PPF) is one of the most lucrative choices for tax-saving investing currently available. With a 7.1% annual compound interest rate as of right now, a PPF scheme has the potential to amass a sizable financial buffer 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. Since money cannot be withdrawn prior to maturity, it is advised that the PPF passbook be reviewed once a month to get an overview of the amount put into the account and the total available balance.
Article About | PPF Balance Check |
PPF Full Form | Public Provident Fund |
Beneficiaries | PPF Account Holders |
Methods to Check PPF Balance | Offline Mode at a Bank, Online Net Banking, Post Office |
Checking PPF Balance Benefits
PPF Account Check benefits are as follows:-
- Anyone who regularly checks the balance of his PPF account will be able to quickly determine the amount of interest gained on each investment. This rate may fluctuate every three months, according to the Finance Ministry.
- Throughout the financing, the interest rate fluctuates. The user’s PPF account receives this interest at the conclusion of each fiscal year.
- You can forecast the corpus you will get after an account matures by regularly examining the PPF account balance.
- A partial withdrawal is possible after investing in PPF for five years. As a consequence, monthly checks on the PPF balance will show how much money a person would get after the withdrawal.
- The capacity to access money in times of need may be the most crucial factor in the PPF balance check.
- The person is qualified to receive money in the second year prior to the credit application period in an amount equivalent to 25% of the outstanding PPF balance.
- To cover essential expenses, one may borrow money against the PPF balance without putting up any security. To apply for this loan, a borrower has three to six fiscal years.
PPF Balance Check Methods
Check PPF Balance various methods 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 Balance Check Offline Mode
You can check your PPF balance offline by visiting the bank and updating your passbook if you have a PPF account with any bank but have not engaged in net banking. The way to check PPF balance using offline mode at a bank is as follows:-
- When you open a PPF account with a bank, you receive a passbook.
- You must frequently visit the bank branch in order to get your PPF account passbook updated.
- In addition to showing you the current balance and every transaction made on the PPF account in detail, the passbook will also show you the total amount.
PPF Balance Check Online Through Net Banking
The process to check PPF balance through online Net Banking is as follows:-
- You must link your PPF account to your active bank savings account. Some financial institutions will not let you open a PPF account unless you already have a savings account.
- Make sure your bank account has a working online banking system.
- To have access to the PPF account’s information as well as those of your other accounts, you must register using your net banking credentials.
- After logging in, you may view the balance of your PPF account.
- Some of the extras offered by online banking include downloading PPF balance check statements, setting up continuing security procedures for your PPF account, and digitally transferring money into your PPF account.
Steps to Check Post Office PPF Balance
The Process to check the PPF balance through the Post Office is as follows:-
- PPF accounts may opened in sub-post offices or head post offices, where this service is accessible to everyone.
- To check your PPF account balance, you will need your PF account number and establishment code. The information is shown on the page.