How to Check Union Bank of India PPF Balance Online

The Public Provident Fund (PPF) is an investment that allows you to save money for the future without earning too much interest each year.

Once your account has been opened, you can check your PPF account balance online or at any branch by submitting your account number and verification details. Here’s how to check your Union Bank of India PPF account balance online!

What is PPF Public Provident Fund?

The PPF (Public Provident Fund) scheme is a government-backed savings instrument in India. It was introduced in 1968 by the Indian government to mobilize small savings from the public and channel it into productive long-term investments.

PPF is a 15-year scheme, with a lock-in period of 15 years. However, partial withdrawals are allowed from the 7th year onwards. The PPF account can be closed prematurely, but only after the 5th year, and there is a penalty for doing so.

The current rate of interest is 7.9%. The account also offers a tax rebate under section 80C of the Income Tax Act, 1961.

Steps to check UBI PPF account balance online through Net Banking

The steps are simple and are listed below. However, there are a few steps involved, so please ensure you follow them carefully.

Step 1: Visit the Union Bank Of India Bank’s official website.

Step 2: Enter your login name and password to access your account. If you forget your User ID & Password Here is to recover them.

Step 3: From the menu, select Accounts” option.

Step 4: Select “PPF Accounts”

Step 5: Pick “Statement of Linked Act”.

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Step 6: The PPF balance will now be shown in the Account balance column.

Steps to check UBI PPF balance online through Mobile Banking

Step 1: Enter your PIN & Login into U Banking App.

Step 2: Click on Investments & Deposits option.

Step 3: On PPF Account section click on down arrow.

Step 4: you see the Account number of your PPF, click on that arrow.

Step 5: On PPF Details section you’ll see the Account balance.

Features of Union Bank of India PPF

The Union Bank of India offers a Public Provident Fund (PPF) account that allows customers to save money for their future. The account has the following features:

  • The scheme is open to all Indian citizens and resident Indians.
  • The account can be opened with an initial deposit of Rs. 100
  • The minimum amount that can be deposited in a PPF account each year is Rs. 500
  • The maximum amount that can be deposited in a PPF account each year is Rs. 1,50,000
  • The account matures after 15 years
  • The account offers a tax benefit under Section 80C of the Income Tax Act
  • Interest earned on the PPF account is also tax-free
  • Any individual between the age of 18 and 60 can open a PPF account.

Conclusion

Banks have taken a leap toward new technology in order to make things easier for their customers. As such, you can now check your UBI PPF account balance online through U Mobile application, provided by your bank.

The easiest way is to log in and check your bank account with just a few clicks. With Internet banking facilities these days, you need not even set foot outside home and get information about your bank accounts all over India. From loans & credit cards, mutual funds and fixed deposits you name it!

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Thank you for reading our post. We hope that we were able to help you out. Do let us know if there’s anything else that we could help you with. Until next time, goodbye!

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