How To Check PPF Account Balance in SBI

How To Check PPF Account Balance in SBI

Often we don’t keep track of the PPF account balance. But this may be our one of the biggest saving so we should check the current balance of PPF account with the SBI. Note, the interest is added at the end of every financial year. Thus, your current PPF balance would also have the interest amount.

In this post, I would tell you the method to check PPF balance online and offline. I would tell you the steps of SBI PPF account. For other banks the steps are similar.

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SBI PPF Account Balance Check Online

It is very easy to check the PPF account online but before that, you must fulfil some conditions.

Conditions for Online PPF balance check

  1. Saving account must – To check your PPF account balance online you must have a saving account with the state bank of India. The bank does not give the online facility for the standalone PPF account.
  2. Same Customer ID – Also, your PPF account and saving account should have the same customer ID. It would be the same if you mention the SBI Saving account at the time of opening the PPF account. As, on the basis of Same customer ID, both the account gets linked. This linking is important as the saving account gets the online facility and the PPF account piggy ride on that facility.
  3. Net Banking Activated-  Your saving account should have the net banking facility. Without the net banking, you would not be able to access the PPF account. This net banking also gives you the online fund transfer service.

Steps To Check PPF Account Balance

Obviously, you have to log in to internet banking for checking the accounts. Hence, Go to the Onlinesbi.com and head to personal banking section. There are 3 ways to login. Use your Username and password. It is the same for all the 3 ways.

  1. Normal Login
  2. YONO login
  3. Lite Login

PPF Account Check Through the Normal Login

  1. Login to the portal using your username and Password.
  2. You would see your transaction account and PPF account in the dashboard. The transaction account is your saving account.
  3. Go to the PPF account and tap on the ‘ Click Here For Balance‘. The account balance would appear in the same place.
  4. You can also check the last 10 transactions of the PPF account. Just click on the given link.
    SBI Online PPF Account Check

PPF Account Balance Check Through YONO Login

The YONO login brings you to a SBI dashboard which compiles all of your SBI Accounts including the Investment accounts.

  1. Log in to the Account by entering the username and password.
  2. In the dashboard itself, you would be able to see all the account and their balance.
  3. Scroll down to the section of ‘ My Deposits’. In that section, you would find the PPF account. The balance would there in front of the PPF account number.
  4. If you have any confusion about the account, you can tap on the account number. It would open the details of the account and transaction statement as well. SBI Online YONO dashboard

Check Balance at SBI Branch

It is a traditional method of balance check. If SBI branch is in your vicinity, you can go there along with your PPF passbook. The easiest way to know the current PPF account balance is to get your Passbook printed. You may find the passbook printing machine at the SBI branch. Else, there would be a counter which prints the passbooks.

To use the Passbook printing machine, your passbook should have the barcode in the backside. The bank executives readily stick barcode to the passbooks. Once a barcode is pasted, the passbook machine can read your account number and print the statement itself. You have to follow the instructions of the machine.

==> Note, you can’t use the missed call service of the SBI to check PPF account balance. It is available only for the Saving account. The number for the missed call is 9223766666. You can also send SMS BAL to this number. It would also send an SMS of saving Account balance.

Is Your PPF Account Balance Less?

Do you find your PPF account balance less than anticipation? There can be many reasons for that.

  • The interest is calculated at the end of the financial year. Hence, for the addition of the interest, you have to wait till 31st March.
  • The interest for a month is not added if the amount is deposited after the 5th day of the month. This amount would start earning interest from the next month.
  • There can be a deduction for the Loan.
  • The interest rate changes every three months. So keep in mind while calculating the PPF account balance yourself.

How To Build a Good PPF Account Corpus

The PPF account balance can be very useful for a long-term saving. It gives you the tax benefits along with the high-interest rate. Hence, you should try to build a big corpus in the PPF account.

  • To enhance your PPF account corpus, you must deposit regularly into this account. For that, you can use the scheduled fund transfer facility of the SBI Account. You can do it online.
  • Don’t wait for the end of the financial year. The PPF deposit should be from the beginning of the financial year.
  • The PPF account gives a better interest rate than the fixed deposit so you should prefer it.
  • Use online banking for the PPF account deposit. It beats the procrastination and increases the chance of regular deposit.

If for any reason you can’t access your PPF account, you can use the PPF calculator to find out the balance. It can be also used to get an estimate of your PPF investment.

Source:- planmoneytax

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