Pradhan Mantri Jan Dhan Yojna (PMJDY) : Scheme Details, Apply Online & Documents
Pradhan Mantri Jan Dhan Yojana(PMJDY) Scheme Overview
PMJDY is a National Mission on Financial Inclusion encompassing an integrated approach to bring about comprehensive financial inclusion of all the households in the country. This scheme was announce by our PM Shri Narendra Modi on 15th August 2015.
The plan envisages universal access to banking facilities with at least one basic banking account for every household, financial literacy, access to credit, insurance and pension facility. In addition, the beneficiaries would get RuPay Debit card having inbuilt accident insurance cover of र 2lakh.
The plan also envisages channeling all Government benefits (from Centre / State / Local Body) to the beneficiaries’ accounts and pushing the Direct Benefits Transfer (DBT) scheme of the Union Government. The technological issues like poor connectivity, on-line transactions will be addressed.
Mobile transactions through telecom operators and their established centres as Cash Out Points are also planned to be used for Financial Inclusion under the Scheme. Also an effort is being made to reach out to the youth of this country to participate in this Mission Mode Programme.
Special Benefits Under PMJDY Scheme
- Interest on deposit.
- Accidental insurance cover of Rs. 2.00 lac
- No minimum balance required.
- The scheme provide life cover of Rs. 30,000/- payable on death of the beneficiary, subject to fulfillment of the eligibility condition.
- Easy Transfer of money across India
- Beneficiaries of Government Schemes will get Direct Benefit Transfer in these accounts.
- After satisfactory operation of the account for 6 months, an overdraft facility will be permitted
- Access to Pension, insurance products.
- The Claim under Personal Accidental Insurance under PMJDY shall be payable if the Rupay Card holder have performed minimum one successful financial or non-financial customer induced transaction at any Bank Branch, Bank Mitra, ATM, POS, E-COM etc. Channel both Intra and Inter-bank i.e. on-us (Bank Customer/rupay card holder transacting at same Bank channels) and off-us (Bank Customer/Rupay card holder transacting at other Bank Channels) within 90 days prior to date of accident including accident date will be included as eligible transactions under the Rupay Insurance Program 2016-2017.
- Overdraft facility upto Rs.10,000/- is available in only one account per household, preferably lady of the household.
Documents Required To Open An Account Under PMJDY
An account can be opened by presenting an officially valid document in the bank.
- Driving licence,
- Permanent Account Number (PAN) Card,
- Voter’s Identity Card issued by Election Commission of India,
- Job card issued by NREGA duly signed by an officer of the State Government,
- Letter issued by the Unique Identification Authority of India containing details of name, address and Aadhaar number.
- Any other document as notified by the Central Government in consultation with the Regulator.
Check Here : Atal Pension Yojana
How to Open Pradhan Mantri Jan Dhan Yojana (PMJDY) Account?
For opening an account under Pradhan Mantri Jan Dhan Yojana, candidates are requires to follow some simple steps mentioned as under:
- Firstly, visit a Government authorized bank for Jan dhan yojana scheme.
- Then you go to the branch of that bank near your location and inquire about account.
- The Banker will provide you with the application form than you can fill and submit along with a valid ID Proof and the work would be done.
How to get Life Insurance under PMJDY?
In Pradhan mantri jandhan yojana, a citizen can take Life Insurance for this scheme. All the account holders of jan dhan yojana can apply for an accidental Insurance of 2 lakh in this Scheme. So, each and every candidate can open this account and take these benefits.
Loan Benefits under PMJDY
All the account holder under this PMJDY can take a lot of Loan benefits. For taking up a loan under this scheme, your account has to be atleast 6 months old. So, the candidates who have their accounts 6 month old or more can take a loan of 5000 Rupees.
Mobile Banking Facility under the scheme
Enabling carrying out transactions through a mobile phone facilitates such account holders in checking of balance and also transferring funds with ease across India.
The other benefits being:
- The account holders would be eligible for interest on their deposits
- They are not mandated to have a minimum balance in the account
- The scheme allows Direct Benefit Transfer for beneficiaries of Government Schemes.
- Account-holders can get easy access to pension and other insurance products with the PMJDY scheme.