Pradhan Mantri Jan-Dhan Yojna

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Pradhan Mantri Jan-Dhan Yojna​

Scheme Details

Pradhan Mantri Jan Dhan Yojana (PMJDY) is a National Mission for Financial Inclusion that aims to make sure that everyone has the accessibility to financial services, specifically, banking/ Savings & Deposit Accounts and Remittance, Credit, Pension, Insurance in a cost-effective manner.

Accounts can be opened at any branch of any bank and the Business Correspondent (Bank Mitr) outlet. PMJDY accounts are opening with zero balance. However, if the owner of the account wants to obtain a cheque book they must satisfy the minimum balance requirement.

Required Documents

  • If Aadhaar Card/Aadhaar Number is available then no other documents is required. If address has changed, then a self certification of current address is sufficient.
  • If Aadhaar Card is not available, then any one of the following Officially Valid Documents (OVD) is required: Voter ID Card, Driving License, PAN Card, Passport & NREGA Card. If these documents also contain your address, it can serve both as Proof of Identity and Address.
  • If a person does not have any of the officially valid documents mentioned above, but it is categorized as low risk’ by the banks, then he/she can open a bank account by submitting any one of the following documents:
  • Identity Card with applicant’s photograph issued by Central/State Government Departments, Statutory/Regulatory Authorities, Public Sector Undertakings, Scheduled Commercial Banks and Public Financial Institutions;
  • Letter issued by a gazette officer, with a duly attested photograph of the person.

PMJDY Scheme Benefits

  • Interest on deposit.
  • Accidental insurance cover of Rs.1.00 lac
  • No minimum balance required.
  • Life insurance cover of Rs.30,000/-
  • Easy Transfer of money across India-
  • Beneficiaries of Government Schemes will get Direct Benefit Transfer in these accounts.
  • Access to Pension, insurance products.
  • After satisfactory operation of the account for 6 months, an overdraft facility will be permitted.
  • Access to Pension, insurance products.
  • Accidental Insurance Cover, RuPay Debit Card must be used at least once in 45 days.
  • Overdraft facility upto Rs.5000/- is available in only one account per household, preferably lady of the household.