Pradhan Mantri Jan Dhan Yojana- A step towards Financal Independence and Inclusion of the poor

For a long time, the poor population of our country was devoid from basic financial services. With Pradhan Mantri Jan Dhan Yojana(PMJDY), the government is trying to provide the basic financial services to those who were not able to avail it previously.

Major benefits under this scheme:

  • No minimum balance required.
  • Interest on deposits.
  • Accidental insurance cover upto Rs. 2,00,000.
  • Life cover of Rs. 30,000 payable on the death of the beneficiary, subject to the fulfillment of eligibility criteria.
  • Beneficiaries of government schemes will get Direct Benefit transfer in these accounts.
  • After satisfactory operation of the account for 6 months, overdraft facility is available.
  • Overdraft facility of 10,000 is available in only one account per household, preferably lady of the household.

Who is eligible?

  • Indian citizen
  • Age should be 10 years and above
  • The person should not have any bank account.

If all the above criterias are fulfilled, then the person can open an account under this scheme.

Documents Required:

  • Passport
  • Driving Licence
  • Aadhar Card
  • Voter’s Identity Card
  • Job Card issued by NREGA signed by an officer of the State Government.
  • ID card with photograph issued by Central/ State Government Departments, Statutory/ Regulatory authorities, Public Sector Undertakings, Scheduled Commercial Banks, and Public Financal Institutions; or
  • A letter with duly attested photograph of the person issued by a Gazetted Officer.

What if you don’t have a document?

Well, even if you don’t have a document you can still open a Small Account with the bank by submitting a self-attested photo and signing or giving thumb print in presence of a bank official.

To open an account Click here