| Published: Tuesday, July 14, 2020, 16:52 [IST] Public Provident Fund (PPF), the popular savings-cum-tax benefit investment instrument in India has been a long favourite among risk-averse investors due to its safe nature. The high-interest rate with tax-free returns is the major attraction of this long-term product. With a 15-year long investment period, it becomes necessary for the investor to keep checking for their PPF account balance. Apart from maintaining investment discipline, keeping a note of the deposits already made allows subscribers to make timely payment so as to keep the account active. Note that investors need to contribute an amount, that is minimum of Rs 500 and a maximum of Rs 1.5 lakh each financial year, to keep their PPF account One can do so online as well as offline depending on the institution they hold the PPF with- that is at a bank or the post office.
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Checking ppf balance offline at bank
October 22 , 2020 |4 Comments
How To Check Account Balance For Ppf Offline
To check their PPF account status offline, individuals have to visit the nearest branch of the bank through which they have opened their account. But before doing so, there are a few pertinent details that need taking care of. These are – * Whenever anyone opens a PPF account with a bank, they are provided with a passbook. This passbook has all the details regarding one’s PPF account number, PPF account balance, bank branch details, account transactions, etc. * A person can get his or her passbook updated from their nearest bank branch while enquiring about their account balance. * Once the passbook is updated, it will reflect the details of the individual’s PPF account transactions and his or her current account balance. To make the process simpler, many banks have introduced the facility of updating passbooks automatically through banking kiosks. This facility is available 24×7 to make it convenient for individuals to check their account balance offline.
Checking Post Office Ppf Balance Offline
Ppf Balance How To Check Ppf Account Balance Online Offline
PPF or Public Provident Fund is a savings-cum-tax saving investment scheme introduced in the year 1968, by the National Savings Institute of India’s Ministry of Finance. The foremost aim of the scheme is to mobilise small savings from an individuals’ income and in turn invest it into a scheme that provides guaranteed returns and tax benefits under Income Tax Act, 1961. The interest accumulated in PPF enables individuals to build a savings corpus that can help to cover their expenses post-retirement. However, due to the nature of this investment, it is crucial for individuals to check their PPF account and keep track of their PPF account balance periodically. Checking the balance of Public Provident Fund is simple, especially with the newly introduced online facilities.
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