How to Check The Balance in a PPF Account in SBI?

A public provident fund investment is one of the safest choices. The annual maximum deposit amount is Rs. 1.5 lakh, while the minimum deposit is Rs. 500. The Indian Central Government introduced the Public Provident Fund plan as a long-term savings and investment vehicle, it provides retirement security for independent contractors and workers in the unorganized sector; the Public Provident Fund Act of 1968 was launched. It takes fifteen years for it to mature. However, Indian citizens can renew it indefinitely, up to a maximum of five years at a time.

What is the PPF balance?

 The total amount that has ever been in one of these accounts is known as the PPF balance. Unless there are certain circumstances, premature closure is not permissible.

 It is a long-term investment; therefore, it is advisable to monitor your account. You can check your PPF balance online and offline in several ways.

Make sure the passbook with the most recent transactions is printed so you can see the account balance. It is the traditional approach to checking the balance of your PPF account. However, whatever method you use to check the PPF account balance, the balance should be known to the investor.

Also Read: How to Link Aadhaar With a PPF Account Online?

Reasons to keep an eye on PPF accounts: It is essential to keep an eye on your PPF account balance. The reasons are as follows:

• Once a year, the government sets the PPF interest rate, which is credited to your account. Consequently, you must check the PPF account and balance at least once a year to determine how much interest has been accrued.
• A person’s PPF account may be partially withdrawn after five years of investment. You can choose how much to withdraw and maintain your account balance.
• PPF account holders are eligible for a loan against their account between the third and sixth years of the investment. Therefore, knowing the balance in the PPF account is essential, as only up to 25% of the balance is permissible for a loan.

Prerequisites for checking your PPF account balance in SBI.

When checking your PPF balance online or through a bank, remember the following requirements: 

1.  Opening PPF and savings accounts with the same financial institution is advisable. 
2.  A savings account should be linked to a PPF account to monitor account details conveniently. 
3.  Use your Net Banking login credentials to access and use the online fund deposit option for your savings account. 
4.  It’s possible that, in some cases, a PIN is also necessary to access the PPF account.

How to check your PPF account balance in SBI?

Suppose you want to find out the balance of your PPF account; a few methods can be used. One is the offline method, where you can visit the nearest bank branch. Visit the nearest SBI bank branch to adopt the offline method. You need to carry your passbook with you.

But if you want to know the PPF account balance through the online method, you need to link it to your current savings account. You must submit an online application. There is another method for checking the balance of your PPF account, i.e., online. All you need to do is log into your bank account to access all the essential information online. You may see your current balance, accumulated interest, and deposited cash, among other things. Some other methods are also available, such as SMS, giving a missed call, or using SBI’s YONO app.

By using the online method for checking the PPF account balance in SBI: 

Using this most convenient method, you can view your PPF balance from anywhere at any time. All users of PPF accounts opened at SBI Bank are eligible to use this service, as the moment you open a savings account at the bank, you must link your PPF account to it. Following these simple steps will help you view your PPF balance online:

• Go to the personal banking section of the SBI PPF account portal and enter your username and password to check the balance of your PPF account.
• After logging in, you can see your savings and PPF accounts on the dashboard.
• You must click on your PPF account to view your PPF balance.
• The remaining balance will be displayed when you choose the ‘Click Here For Balance’ option.
• The ten most recent transactions you made with your PPF account will be visible.
• You can check the details of previous closed, matured, dormant, and old PPF accounts with the same bank by choosing “Click here to view the details of matured and closed accounts.”
• The balances of each account will be displayed by clicking “View all balances.”.

By using the SBI YONO app to check the PPF account balance in SBI Bank:

• On your Android smartphone, you must download and install the YONO application from the “Play Store.”.
• To use the mobile banking service, you must acquire authorization from the bank.
• You will receive an mPIN to enable you to use the app.
• The username will match the one you use for net banking.
• You now need to enter your mPIN to log in.
• Create a new password by entering the OTP you received on your registered phone number.
• You can see your PPF account information and balance by selecting ‘My Deposits’.

Check your PPF balance via SMS or missed call. You can also use these methods to see how much money you have in your PPF account. You can check your balance by sending the SMS “BAL” to 9223766666 or a missed call to the same number.

Offline method: If you don’t have a net banking facility, you need to visit the SBI bank’s branch where you have your PPF account. You must carry your passbook with you to provide any information the bank officials require.

 Final words

SBI has created effortless and comfortable banking options to improve the banking experience for its customers. You can check your PPF account balance online at SBI Bank without going in person using these methods.

FAQs.