How to Check PPF Balance?

Imagine consistently setting aside a small portion of your earnings, gradually building it into a substantial reserve for your future needs. This is the importance of the Public Provident Fund (PPF). Introduced by the Government of India in 1968, PPF is a long-term savings scheme that offers government-backed security and tax benefits. This scheme can be a cornerstone of your financial strategy, helping you secure your financial future. Below, you'll find detailed information on how to check your PPF balance.

The Public Provident Fund is a long-term savings option backed by the Government of India. It has a maturity period of 15 years. You can contribute to your PPF account every financial year and eligible contributions may qualify for a tax deduction under Section 80C of the Income Tax Act under the old tax regime, subject to the overall applicable limit.

The interest rate offered on PPF is set by the government and reviewed every quarter. An eligible individual can generally hold only one PPF account in their own name. The account can be opened with an authorised bank or post office.

A key aspect to monitor in your PPF scheme is your account balance, which reflects the total amount accumulated over time. You can deposit between ₹500 and ₹1.5 lakh per financial year, with multiple deposits allowed in multiples of ₹50.

Your PPF balance includes the principal deposit and accrued interest. Interest is calculated monthly based on the lowest balance between the close of the fifth day and the end of each month. The interest is credited to the account at the end of each financial year.

You can check your PPF balance both online and offline.

You can open a PPF Account with a bank, ideally where you have a Savings Account. Link it to your bank account to access it via NetBanking or Mobile Banking. Here’s how to check your PPF balance with HDFC Bank:

• Step 1: Log into the HDFC Bank NetBanking or Mobile Banking portal with your customer ID and password.
• Step 2: View the accounts linked to the customer ID in the Account Summary. You can view the details in the Account Summary if you have a Savings Account with us. Similarly, you can view your PPF Account under ‘Savings Scheme Account’.
• Step 3: Click on the ‘Savings Scheme Account’ option to expand. Here, you can check your PPF balance.
• Step 4: Click on ‘View’ to get your account statement for Latest one year.

• Step 1: Go to the branch where you opened your PPF account. (Click here to check the nearest branch). 
• Step 2: Bring your PPF passbook and any identification documents required.
• Step 3: Request the bank/post office personnel to update your PPF passbook. This will provide you with the latest balance and transaction details.
• Step 4: Review the updated passbook to see your current PPF balance and recent transactions.
• Step 5: If you have any questions or need further details, ask the bank staff for help.

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- Having constant access to your PPF balance allows you to manage your finances more effectively and easily achieve your goals. You can also view your account statement and monitor your interest earnings.
• Loan against PPF: You can obtain a loan against your Public Provident Fund (PPF), but there are specific terms and conditions to consider. The loan facility is generally available from the third financial year up to the end of the sixth financial year. The maximum loan amount is 25% of the balance at the end of the second financial year immediately preceding the year in which you apply.
• Clear idea about withdrawals: Partial withdrawals are permitted after the completion of five financial years from the end of the financial year in which the PPF account was opened. In practical terms, withdrawals can generally be made from the beginning of the seventh financial year, subject to the applicable limits and conditions.

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. Click here to get started.

*Disclaimer: 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 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.