If you’re looking to open an account that charges zero fees and provides you with lots of facilities including an overdraft facility, health insurance facility, life insurance, accidental insurance, and much more, then PM Jan Dhan Yojana is a perfect scheme you can go with.
Under the PMJDY scheme, the account can be opened with zero balance in it, and the account holder will have access to banking services through mobile banking, internet banking, and debit cards. The PMJDY objective is to ensure that every household has at least one bank account, especially those who are economically weaker and marginalized.
The government of India provides an un-secured overdraft facility to account holders in which you can withdraw an amount of 10,000 INR per month without submitting any additional documents if you’ve opened an account under the Pradhan Mantri Jan Dhan Yojana scheme.
There are many benefits of this scheme that you need to know, especially if you’re a laborer or belong to an unorganized sector. We’re going to discuss full PMJDY scheme details including, benefits, eligibility criteria, the application process, status checking, and much more. Read the article to the end, and get meaningful Pradhan Mantri Jan Dhan Yojana information.
Pradhan Mantri Jan Dhan Yojana Benefits
Account holders will get so many benefits depending on their transaction history. According to the government’s official website, 47.45 crore total accounts are now opened in private and government banks and about 177,848.48 crore balance is in those accounts, and the numbers are increasing day by day because Jan Dhan Khata provides so many benefits to its users.
- Applicants can open this account with zero account balance in it.
- PMJDY account can be opened in any private or government bank.
- Account holders will get the Interest rate annually by opening a saving account just like any other bank.
- If an applicant opens his/her Jan Dhan account in SBI bank then he/she will get 2.5% interest annually on his/her savings account.
- Jan Dhan account holders will get Rupay Card as their debit card and this card is free to avail.
- If a person has an account in this scheme, he/she uses Rupay Card regularly and he/she met an accidental death then 200,000 INR will be delivered to his/her nominee.
- Jan Dhan Yojana Beneficiaries will get an unsecured overdraft facility of 10,000 INR if a beneficiary uses his/her account for up to 6 months.
- Beneficiaries can avail of other government schemes including Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY), and Atal Pension Yojana (APY).
- Account holders won’t get cheques book but instead of this, they’ll get passbooks and PMJDY debit cards.
- PMJDY withdrawal limit is 10,000 INR per month.
- PMJDY deposit limit is 100,000 INR per year but there’s no limit on the total deposit.
- Account holders can link their PMJDY bank account with the UPI app.
- No annual fees will be deducted from the beneficiary account.
- Transactions can be done easily in any national account.
- Jan Dhan Yojana account holders will also get cash benefits from other government schemes, and those cash benefits will directly DBT in their bank accounts.
Note: PM Jan Dhan Yojana Khata won’t be open in bank branches, but it can be open at customer service points attached to them.
PMJDY Rupay Card Benefits
The rupay card works like any other debit card in India. The main aim to launch PMJDY Rupay Card is to minimize the use of other debit and credit cards. The government of India supports this card because they invest in this program financially. Register yourself in Jan Dhan Yojana and avail of the PMJDY Rupay Card insurance benefits mentioned below.
- The banks won’t deduct any insurance charges when they issue the Rupary Card to the account holders.
- If the account holder has misplaced the card, then the bank won’t deduct any charges from the cardholder’s account for re-issuing a new card.
- With the help of this card, beneficiaries can enable internet banking of their card and can transfer money to any other bank account.
- Rupay debit card covers life insurance for an amount of 30,000 INR.
- Beneficiaries who’ve Rupay cards, will automatically get PMJDY accidental insurance of 200,000 INR.
Note: To avail of the life and accidental insurance, the beneficiary must use his/her rupay card within 90 days before the accidental or natural death.
Pradhan Mantri Jan Dhan Yojana Online Apply
The PM Jan Dhan Yojana online registration is so simple. You can apply for this scheme in any private or government in India but the Jan Dhan bank account can’t be opened in bank branches, instead, it can be opened at a customer service point of that bank. To open the Jan Dhan account, visit the official website of Prime Minister Jan Dhan Yojana which is pmjdy.gov.in.
When you scroll down a bit, you’ll see the e-Documents section, and in that section, click on the option which suits you between Account Opening Form-Hindi, and Account Opening Form-English. When you click on the said option, the Pradhan Mantri Jan Dhan Yojana form will be downloaded to your device. Now you take a printout of that PMJDY account opening form and fill in the required details.
How to Fill the Jan Dhan Account Opening Form?
There are a few steps that you need to follow while filling out the form and these are mentioned below:
- Applicant’s passport-size photo should not be old more than 6 months.
- Don’t fill in the No. and Date: option of the form.
- The bank name will be filled in the section of Name of the Branch.
- The applicant’s residence details will be filled in the next few sections.
- If you don’t know Ward No. and Village code, then you can leave that section because it’s not necessary to fill.
- Fill in the name of your village according to the census 2011.
- Applicant’s personal details will be required in the section of applicant details.
- In the section of No. of Dependents, write the number of family members on how many are dependent on the applicant’s income.
- After filling in the applicant’s details, now the applicant needs to fill in the nominee’s personal details.
- Now you’ve filled in the correct information, visit the bank branch which is nearest to your residence, and submit the form to them.
- Don’t forget to attach the applicant’s aadhar card photocopy with the form.
PM Jan Dhan Yojana Account Balance Check
Are you worried about how to check the account balance of Jan Dhan yojana? Don’t worry, we’ve got you covered. There are so many ways to check your account balance but we’re going to tell you the simplest one. Make sure you’ve written the account number of which you needs to know the account balance.
First of all, visit the official website of the Public Financial Management System which is pfms.nic.in. scroll down a bit until you see the publication section, and in that section, click on the Know Your Payment options and you’ll be redirected to the account details page.
On the new page, you need to select the bank where you’ve opened the account. After that, enter your bank account number and confirm it in the next section. Now, fill in the captcha code in the needed section and click on the search option. After doing the said procedure, all the details related to your bank account will appear on your screen.
If you belong to an unorganized sector and want cash benefits from other government schemes including PM Kisan Yojana, and Atal Pension Yojana, then it’s a must to have a PM Jan Dhan account. The government will directly DBT the other scheme’s cash benefits if your current condition meets the criteria of other schemes. Let’s discuss the Jan Dhan scheme eligibility.
- Pradhan Mantri Jan Dhan Yojana’s minimum age limit is 10 years old.
- There’s no maximum PMJDY age limit. Even a 100-year-old person can open his/her account in PM Jan Dhan Yojana.
- To apply online in the PMJDY scheme, you only need an aadhar card to open the account.
- A beneficiary must be a citizen of India.
- The beneficiary should have no account in any other bank.
PMJDY Overdraft Eligibility
In an overdraft facility, the bank provides you with a credit limit and you may use the cash if necessary, but you must pay back the amount you spent to the bank within a set period of time. There’s an eligibility criteria if you want to take the overdraft facility from the bank. Let’s discuss the criteria.
- PM Jan Dhan khata provides you non-secured overdraft facility in which you don’t have to submit any kind of documents.
- If the applicant’s bank account is maintained for at least 6 months then he/she is eligible for an overdraft facility.
- This facility is to be granted to only one person per family, preferably women of the house.
- There should be regular credits in the applicant’s bank account under BDT/BDTL scheme, or, from other verifiable sources.
- The applicant’s Jan Dhan account must be linked with his/her aadhar card.
- The age of applicant should be between 18 to 65 years.
- The PMJDY OD limit is 10,000 INR per month.
What is Prime Minister Jan Dhan Yojana?
Jan Dhan Yojana is a scheme that develops by the government to digitalize unorganized and economically weaker workers by providing them the free bank account services, and it starts with a zero-balance account. The main aim of this scheme is to ensure that each family has at least one member with a bank account.
The government provides free Rupay debit cards to account holders and also accidental and life insurance on the debit card if the applicant uses it continuously. PM Jan Dhan Yojana is current and also a saving type of account but with zero balance. That means if you’re saving in that account then the bank won’t charge any annual fees on that account and also the account holder will get yearly interest on that savings.
PMJDY’s full form is Pradhan Mantri Jan Dhan Yojana and this scheme is launched by the Indian government for all states in India to provide financial inclusion to every household in the country. This scheme has delivered access to basic banking facilities to millions of Indians who’re unbanked or underbanked. The scheme has also been successful in empowering women by ensuring their inclusion in every household account opened under the scheme.