The Pradhan Mantri Jan Dhan Yojana (PMJDY) is a transformative initiative aimed at ensuring access to financial services for the excluded sections of society, such as weaker sections and low-income groups. By leveraging technology, PMJDY aims to provide deep penetration of these services at an affordable cost.
Objective of PMJDY
The primary objective of PMJDY is to provide universal access to banking facilities. This includes offering basic savings bank accounts, access to need-based credit, remittance facilities, and providing insurance and pension services to marginalized and low-income groups. The scheme is designed to empower individuals financially and bring them into the formal banking system.
Scheme Details
PMJDY is a National Mission for Financial Inclusion that ensures the provision of the following services:
PMJDY Official Website : https://pmjdy.gov.in/
- Basic savings and deposit accounts
- Remittance facilities
- Credit services
- Insurance
- Pension
Under this scheme, individuals without an existing bank account can open a basic savings bank deposit (BSBD) account at any bank branch or through a Business Correspondent (Bank Mitra) outlet.
Benefits under PMJDY
- Basic Savings Bank Account: Every unbanked individual can open a basic savings bank account without the need to maintain a minimum balance.
- Interest on Deposits: Interest is earned on the deposits made in PMJDY accounts.
- RuPay Debit Card: Account holders receive a RuPay debit card.
- Accident Insurance Cover: Accounts opened after August 28, 2018, are eligible for accident insurance cover of Rs. 2 lakh. For accounts opened before this date, the cover is Rs. 1 lakh.
- Overdraft Facility: Eligible account holders can avail an overdraft facility of up to Rs. 10,000.
- Direct Benefit Transfer (DBT): PMJDY accounts are eligible for Direct Benefit Transfer, enabling beneficiaries to receive funds directly into their accounts.
- Additional Schemes: Account holders can also benefit from schemes such as Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), Atal Pension Yojana (APY), and the Micro Units Development & Refinance Agency Bank (MUDRA) scheme.
What You Need to Open a Jan Dhan Account?
Opening a Jan Dhan account is simple and quick, provided you have the necessary documents. Here's what you'll need:
- Proof of Identity: Aadhaar card, PAN card, voter ID, or passport. Other government-approved identity cards are also acceptable.
- Proof of Address: Aadhaar card, electricity bill, ration card, or driving license.
- Passport Size Photographs: A few recent photographs are required.
Even if you have limited documents, banks will strive to find a solution to help you open an account.
Online Jan Dhan Account Opening: Detailed Steps
Opening a Jan Dhan account online is a straightforward process. Follow these steps:
- Visit the Bank’s Website: Start by visiting the website of the bank where you wish to open the account. Use search engines if needed by searching "open PMJDY account online."
- Find the PMJDY Section: Look for the PMJDY or Jan Dhan account section, usually located on the main page or under the ‘Account’ section.
- Fill the Application Form: Provide your basic information such as name, contact details, and Aadhaar number.
- Upload Required Documents: Upload clear and legible copies of the necessary documents.
- Submit the Form: After completing the form and uploading the documents, click on the 'Submit' button. The bank will process your application.
- Follow-Up: Monitor your email and phone for updates from the bank regarding the status of your account.
How to Open a Jan Dhan Account Offline
For those who prefer an offline process, follow these steps:
Pradhan Mantri Jan Dhan Yojana (PMJDY): Download Form
- Fill the Form: Obtain and complete the account opening form.
- Attach Documents: Attach the required identity and address proof documents.
- Visit the Nearest Bank: Go to the nearest bank branch.
- Submit Your Application: Present the completed form and necessary documents.
- Follow-Up: Keep in touch with the bank for updates on your application.
Frequently Asked Questions
What are the benefits of opening a Jan Dhan account?
The Jan Dhan account offers several benefits, including:
- Easy transfer of funds across India.
- Beneficiaries of government schemes receive direct benefit transfers.
- Overdraft facility granted after six months of satisfactory account activity.
- Access to pension and insurance products.
What are the Jan Dhan Yojana rules?
Under the PMJDY, account holders receive interest on their deposits. Additionally, accident insurance cover of up to Rs. 1 lakh is available, increasing to Rs. A 2 lakh limit applies to accounts opened after August 28, 2018. In case of the account holder's death, the family receives life insurance of Rs. 30,000.
Who can avail the benefits of Pradhan Mantri Jan Dhan Yojana?
Any citizen of India, particularly economically weaker individuals, can open an account under this scheme. Those without an existing bank account are eligible.
What is the limit of a Jan Dhan account?
The total deposits in a financial year for small accounts cannot exceed Rs. 1 lakh. The limit for withdrawals and transfers per month is Rs. 10,000.
How much loan can be obtained in a Jan Dhan account?
Account holders can apply for a loan ranging from Rs. 5,000 to Rs. 20,000 without providing collateral, allowing them to meet their economic and financial needs.
In which bank can a Jan Dhan account be opened?
Jan Dhan accounts can be opened at any bank branch. Enrollment requires submitting a copy of your Aadhaar card and identity proof.
The Pradhan Mantri Jan Dhan Yojana (PMJDY) is a landmark initiative that aims to bring financial inclusion to all sections of society. By offering a range of financial services such as savings accounts, credit, insurance, and pension at an affordable cost, PMJDY empowers individuals and promotes financial stability. Whether you choose to open an account online or offline, the process is designed to be simple and accessible, ensuring that everyone has the opportunity to benefit from this revolutionary scheme.
