The Public Provident Fund (PPF) is a scheme where investors can deposit up to Rs 1.5 lakh in a financial year. The account has a lock-in period of 15 years and the money received on maturity is tax-free. Also, one can avail tax benefits under Section 80C against deposits in PPF.
Investors generally deposit money in their PPF account but do not make it a habit of keeping a track as checking the account physically from the bank branch sometimes means waiting in long queues.
Here are some steps to maintain your SBI PPF account online.
1) To check the balance online, investors have to link their PPF account to the savings account with internet banking.
2) Simply log in to your net banking using your credentials and you can verify the deposits, total balance and accumulated interest, all at your comfort.
3) Once you sign-in to your SBI net banking, go to personal banking to log in to the SBI PPF account portal using your login credentials and password. After this, your PPF account and your savings account will be displayed on your dashboard. Select the ‘PPF Account’ option and further go to ‘click here for balance’ to view your balance.
4) Up to the last 10 transactions can be viewed under the same tab. You can also see details of inactive, matured, closed and old PPF accounts by selecting ‘click here to view the details of matured/closed accounts section. The balance of all accounts can be tracked under the view all balance section.
5) To check the balance and keep track of your PPF account activities on your mobile, download the SBI YONO app by using your mobile banking username and MPIN. After signing in, navigate to the my deposits section to check the details.
If you are not a SBI mobile banking user, then contact the bank to get access to the services and download the app. Alternatively, you can check the balance via SMS, type ‘BAL’ and send it to 92237666666.