PPF Account Statement Online

The Public Provident Fund (PPF) is a popular investment choice for most Indians because it is government backed and assures risk-free returns while also providing tax-free benefits. Even though it has a long-term tenure with maturity at 15 years, it is beneficial to check your account regularly to monitor the returns. Checking your PPF statement is now easily done anywhere and anytime with the online facility provided by the bank. You can check your PPF account using the internet or mobile banking credentials provided to you by the bank.

Steps to Check PPF Account Statement

The step-by-step procedure to check the PPF account statement is mentioned below:

• Your PPF account must be linked with your current/savings bank account. Most banks provide the option to open a PPF account in case you already have a savings/current account with them.
• Your bank account should have internet banking or mobile banking activated.
• By using your banking credentials, you will need to log in to your account via mobile or internet banking.
• Once you have completed your login procedure, you will be able to view PPF account details, account statement, account balance, etc. You will also be able to transfer funds to the PPF account, submit the PPF loan application, as well as set up standing instructions for the PPF account.

PPF Withdrawal

While it is easy to check your PPF account statement online, the PPF rules relating to withdrawal also must be kept in mind, lest you feel too tempted to withdraw your corpus.

• Partial withdrawals can be made, from the start of the 7th financial year after the account has been created.
• It is important to keep in mind that the timeframe taken into consideration is “financial year” which is from the 1st of April – to the 31st of March the next year.
• Only one partial withdrawal will be allowed every financial year (starting from the 7th financial year on wards).

For example: If Ms. Prarthana had opened a PPF account in the financial year 2019-2020, she will be able to withdraw from her account from 1 April 2025.

The number of financial years will be counted from the time the account was opened. It appears as follows:

Considering the above example of Ms. Prarthana, she will be able to withdraw from her PPF account once every year, starting from April 2025.

The Percentage of Amount that can be Withdrawn

The PPF account attains maturity in 15 years from the date on which it was created.

• 50% of the account balance as at the end of the year immediately preceding the current year, or,
• 50% of the account balance as at the end of the 4th year, immediately preceding the current year.

As in the above example with Ms. Prarthana:

FAQ’s

1. Is it possible for me to have more than one PPF account under my name?

No, you can have only one PPF account under your name. However, you can open another PPF account on behalf of your child if he or she is a minor.

2. Can loan facilities be availed using a PPF account?

Yes, loan facilities can be availed between the third and sixth financial year.

3. Can a PPF account be transferred?

Yes, PPF accounts can be transferred from a bank to a PPF Account post office and vice versa.

4. Can a PPF account be accessed via internet banking?

Yes, a PPF account can be accessed by using internet banking. However, the PPF account must be linked with the savings or current account. Viewing of account statement, transferring of funds, and viewing of PPF account balance are possible by using internet banking.

5. What are the documents required to open a PPF account?

Given below is the list of documents that are required to open a PPF account:

• Passport-size photograph
• PAN card copy or Form 60-61
• Account opening form
• Address proof and ID proof as per Know Your Customer (KYC) norms.
• Nomination form
6. Are there any fines if the minimum amount is not deposited?

A fine of Rs.50 must be paid by customers in case they do not deposit the minimum amount of Rs.500 in a financial year.