Sarkari Yojana

Pradhan Mantri Jan Dhan Yojana or PMJDY

Prime Minister Narendra Modi launched Pradhan Mantri Jan Dhan Yojana or PMJDY in 2014 with the objective of economic inclusion. The main objective of the scheme is to ensure that people belonging to weaker sections and low income groups also have access to financial services at the national level. Its objective is to bring all individuals under the umbrella of opening a bank account. Through PMJDY, individuals can access services such as banking, savings and deposit account, finance, pension and the like.


Individuals can open an account at any bank branch or correspondent bank, also known as a bank friend. Under the Pradhan Mantri Jan Dhan Yojana, individuals can open a zero balance account. However, if the account holder needs a checkbook, he / she will have to meet the minimum balance requirements.

Pradhan Mantri Jan Dhan Yojana – Eligibility Criteria

The eligibility criteria for Pradhan Mantri Jan Dhan Yojana are as follows.

Individuals who are Indian citizens are eligible to open an account under this scheme. Minors above the age of 10 years are also eligible to open an account under this scheme. However, for minors, accounts are managed by parents. Minors are eligible for a card that can be used to withdraw money four times a month.

Individuals who already have a savings account can also open an account under this scheme. They can transfer their account balance to PMJDY scheme to enjoy the benefits.

If a person is not able to meet the above and there are no documents to establish their nationality, the bank conducts a preliminary check on that person and classifies them as low risk individuals. These individuals are allowed to open a temporary account on a permanent basis by submitting the required documents within 12 months from the date of account opening.

Jan Dhan Yojana Account – Essential Documents and How to Open an Account

Individuals are required to have valid address proof to open an account under PMJDY.

  • Some of these documents include passport, driving license, Permanent Account Number (PEN), voter ID card and Aadhaar card.
  • Aadhaar card is an essential document for opening an account. If individuals do not have a valid Aadhaar number, they must first register for it and submit it later.
  • Individuals are also required to submit two passport size photographs.
  • If individuals are not able to meet the criteria given above, then small accounts can be opened and classified as low risk individuals.

To open an account under PMJDY scheme, one can visit the nearest bank branch or correspondent bank, also known as bank friend. Individuals can also open their bank accounts by registering themselves in camps organized in their areas. For individuals who are classified as low risk individuals, they can open small accounts. These accounts are opened on the basis of self-attested photographs and by keeping fingerprints and / or signatures in the presence of bank officials. However, there are limitations regarding the number of withdrawals, deposits and bank balances in such an account. These accounts are valid for a period of 12 months. After this period, the account will be allowed to continue for a further period of 12 months, if individuals submit a document that they have applied for proof of recognition.

Pradhan Mantri Jan Dhan Yojana- Details

Age criteria
Individuals 10 years or older can open an account under the PMJDY scheme. However, he will be considered a minor until he reaches the age of 18. At the top, individuals can open an account till the age of 60 years.

Minimum investment
No minimum deposit is required to open an account under the PMJDY scheme. Individuals can open a zero balance account under this scheme. However, if they want to keep a checkbook, they need to meet the minimum balance criteria.

Maximum clearance
With the PMJDY account, people can withdraw money up to four times a month. The maximum amount to be withdrawn from the account each month is 10,000.

Maximum Deposit An account holder can deposit a maximum amount of rupees under a PMJDY account.

Benefits of Pradhan Mantri Jan Dhan Khat

Jan Dhan Khat has many benefits. Some of them are discussed below.

  • It is not mandatory to keep minimum balance in the account under PMJDY scheme. Individuals can also maintain zero balance.
  • Under the PMJDY scheme, deposits in a bank account earn an interest of 4% p.a.
  • The plan includes contingency insurance cover of INR 1 lakh.
  • The scheme also provides a life cover of Rs 30,000 payable to the beneficiary on the death of the account holder. However, in this case, individuals are required to meet certain criteria. Beneficiaries of government schemes will get direct benefit transfer to this account.
  • Individuals can access insurance and pension related schemes.
  • The female member of the household is allowed overdraft facility in the account preferably up to Rs 5000. This facility can be availed after 6 months of satisfactory operation of the account.

So, if you want to enjoy the benefits of banking, insurance, government benefits and other financial assistance, open a bank account today, Pradhan Mantri Jan Dhan Yojana.

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