The Public Provident Fund (PPF) Scheme is one of the safest and most popular savings schemes in India. It is backed by the Government of India, offers an attractive rate of interest, and both the principal invested as well as the interest earned over 15 years is completely tax free.
You can check your PPF account balance in two ways:
Online checking of PPF account balance
If you have opened your PPF account at a bank and you have net banking facilities, then it is very simple to check your PPF balance online. You simply need to log onto your bank website and access your account. You can view each deposit you have made, along with the interest earned and the current balance. Some banks may allow you to link your PPF account to a savings account in another bank. However, typically, you need to have a savings bank account in the same bank as your PPF account.
In addition to checking your PPF balance, you can also transfer funds into your account. In some cases, you can give standing instructions for transfers to be made. This will also ensure that you do not forget to make the minimum deposit every year.
If you do not use net banking facilities as yet, it might be a good idea to register for it right away. You will need to get a username and password in order to start. Using net banking facilities allows you to check your balance, view your statement, transfer funds, pay bills, apply for loans and conduct several other banking transactions entirely online and at your convenience. The great advantage is the convenience - you do not have to carve out time from your working hours or from your leisure hours to visit your branch to conduct routine banking business. You can say goodbye to tedious paperwork and standing in lines to get your work done.
Offline checking of PPF balance at Post Office
If you have opened your PPF account at a Post Office, it might not be possible to view your balance online for all branches. You will need to visit the post office branch where you have your PPF account and check your balance with the passbook that is issued to you at the time of account opening.
Remember, you cannot close your account before the 15 year maturity period. You can, however, make a partial withdrawal starting from the 7th year and you can avail of the loan facility from the 3rd year.