In this post I will list two ways by which you can check PPF account maturity date in SBI. PPF (Public Provident Fund) is one of the best saving option available to resident Indians. It offers a very attractive rate of interest (interest amount is revised by government once in every three months, Yet PPF rate of interest is usually better than highest Fixed Deposit rate offered by banks). This coupled with fact that returns from PPF account are not taxed makes it a most sought after investment avenue.
PPF account matures 15 years after the end of financial year in which it was opened. As an illustrative example consider a PPF account opened on 15th May 2009. This financial year would end by 31st March 2010. 15 years from this date would be 31st March 2025. The PPF maturiy is 1 day after this date, i.e on 1st April 2025 (one observation you can make here is, all PPF accounts would mature on first day of financial year i.e 1st of April).
Theory and formulas apart, it would be nice to have a simple way how one can confirm the exact date the maturity happens. First method by which you can check this maturity date is by using SBI Netbanking facitliy (www.onlinesbi.com). If for any reason you don’t have login credentials for Netbanking you could use the Second method – check the monthly consolidated account statement sent to your registered email ID. To receive this you should have registered your email id with SBI. You can refer to post How to Check Minimum Balance Required in SBI to know all about the mothly eStatement.
Check PPF account maturity date in SBI Using Netbanking login:
You can find out your PPF account maturity date by generating a statement for same using SBI Net Banking facility. Following is the procedure for the same. Login to SBI Netbanking, and navigate to “Account Statement”. You should be able to find this under the “Quick Links” Menu on left panel, as pointed and shown in below image:
Once you are in “Account Statement” page you should see your PPF account listed (“Account Type” would show “PPF Account”). Select your PPF account, choose “Financial Year” or any other duration of interest to you, Click on the “Go” button. The generated account statement would have a field “Maturity Date”, which is the exact date your PPF account matures. Also, PPF accounts would mature on 1st day of Financial year (April 1st).
Look at below screen shot where Maturity Date is shown after following above steps.
You could use these steps to generate PPF Account Statement for Tax Proof as well. Just select the appropriate financial year and choose “Download in PDF format” instead of using “View” option.
Has your PPF Account just got matured / nearing maturity? check out How to extend PPF account in SBI online for a hassle free way to extend it without having to visit the SBI branch where your PPF account is held.
Check SBI PPF account maturity date using monthly Consolidated account statement:
Each month you would get a consolidated account statement to your registered email ID from “firstname.lastname@example.org”. This statement would have details about all the accounts (Both transactional and Investment) that you hold with SBI. This statment would have a section titled “PPF AND SUKANYA ACCOUNTS”. Here you will be able to find the maturity date, and even the Account Opening date of your PPF account. You would also be able to find rate of interest offered for the current quarter mentioned under column titled “ROI (%)”. Refer to below screen shot for an idea of all the details that you would be able to get.
Can I find PPF Account Maturity Date from my PPF Account's Pass Book ?
No. The PPF account’s passbook provided by SBI did not have this information. Looking into this book is not going to provide that info! You PPF pass book will only help track the day when you opened the account (the date of first transaction recorded in your PPF passbook)
A final note.. PPF account matures after 15 years by default, but you could keep extending the validity of your PPF account in blocks of 5 year period.