To check the claim status online you must link the net banking system of your bank account with your PPF account. After that you can check that status online by logging into your account. The process is simple and easy to do.
The PPF scheme offers excellent benefits – it’s a retirement scheme that promises incredible investment growth and also works as a tax saving instrument.
In order to check your PPF claim status online, you must:
- Intimate the bank to integrate your PPF account with the net banking system of that bank.
- Log into your account and begin the claim process.
- It must be kept in mind that the claim status can only be checked on only once you’ve logged into your account and started the claim process.
- Some banks only accept PPF deposits online, in this case, the PPF withdrawal claim can only be checked online.
- If the PPF account has been created in a post office, the claim status can be checked by a simple process of inquiring from the same post office.
It must be noted that withdrawal from the PPF account is subject to certain rules, which are:
- Partial withdrawals can be made, from the start of the 7th financial year after the account has been created.
- Only one partial withdrawal will be allowed every financial year (starting from the 7th financial year onwards).
- The amount that can be withdrawn is equal to the lower of:
- 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.
- The full amount in your PPF account can only be withdrawn on maturity.
- The PPF account attains maturity in 15 years from the date on which it was created.
For example, Mr. A opens a PPF account in January, 2010.
- Year 1: April 2009 – March 2010 (Account opened within this timeframe – in January 2010).
- Year 2: April 2010 – March 2011.
- Year 3: April 2011 – March 2012 (This is the 4th year immediately preceeding the year in which withdrawals are possible, assuming Mr. A opted for withdrawal option as soon as he legally could. Mr. A can withdraw an amount equal to 50% of this amount if it is lower than that of “Year 6”).
- Year 4: April 2012 – March 2013.
- Year 5: April 2013 – March 2014.
- Year 6: April 2014 – March 2015 (This is the year immediately preceding the year in which withdrawals are possible, assuming Mr. A opted for the withdrawal option as soon as he legally could. Mr. A can withdraw an amount equal to 50% of this amount, if it is lower than that of “Year 3”).
- Year 7: April 2015 – April 2016 (Mr. A can begin withdrawing from his PPF account from this date).
PPF Top Pages
- SBI PPF Interest Rate
- ICICI PPF Account
- Open PPF Account Online
- PPF Account Balance
- PPF Account Opening Form
- PPF Interest rate
- PPF Payment Online
- PPF Withdrawal Rules
- Check PPF Account Statement Online
- Change Nominee Name in PPF
- Bank of Baroda PPF Account
- Central Bank of India PPF Account
- Bank of India PPF Account
- Canara Bank ppf account
- PPF Age Limit
- PPF Deduction
- PPF Closure Form
- PPF Lock-in Period
- PPF Rules