The Pradhan Mantri Jan Dhan Yojana (PMJDY) scheme was launched by Government of India on 28 August 2014. PMJDY announced by the Prime Minister Shri Narendra Modi on his first Independence Day speech on 15 August 2014.The aim of this scheme is to ensure that all the citizens of India can access the financial services. Those who do not have bank account, can open a bank account with zero balance under this scheme. If you want to open an account under this PMJDY, then you can visit the official website at http://www.pmjdy.gov.in/scheme.
What is Pradhan Mantri Jan Dhan Yojana?
PMJDY is a nationwide scheme launched by the Government of India to ensure financial inclusion of every citizen of India who does not have a bank account. This financial inclusion campaign was launched by the Prime Minister of India Narendra Modi on 28 August 2014. Under this scheme 15 million bank accounts were opened on inauguration day. This scheme aims at providing access to financial services, namely, Banking / Savings & Deposit Accounts, Remittance, Credit, Insurance, and Pension in an affordable manner to all.
An individual can open an account under this scheme with any bank branch or Business Correspondent (Bank Mitra) outlet. These can be opened with Zero balance. If the account-holder want to get a cheque book, then he/she will have to fulfil minimum balance criteria. Account holders will be given a RuPay debit card which can be used across all ATMs for cash withdrawal under this scheme.
Documents required to open an account under PM Jan Dhan Yojana?
- To apply for this scheme, the applicant must have an Aadhaar card. If the applicant have their Aadhaar card, then no other documentation is required.
- In case, address of the applicant is changed, then a self-attested certificate showing the current address is sufficient.
In case the Aadhaar card is not available, then any other government-issued identity proof should be submitted:
- Driving licence
- Voter ID card
- PAN card
- Passport
- NREGA card
If the applicant doesn’t have any of the above documents but the applicant is categorised as ‘low risk’, then a bank account can be opened using the below documents:
- Any proof of identity with the applicant’s photograph has been issued either by the central or state government, public sector undertakings, scheduled commercial banks, and public financial institutions.
- A letter from a gazetted officer along with an attested photograph of the applicant.
Eligibility Criteria for PMJDY
- To get the benefits of PMJDY, the applicant must be a citizen of India.
- Applicant should be older than 10 years of age.
- Applicant should not have an existing bank account with any other bank.
Benefits of PMJDY
- Even people who do not have a bank account can open a basic savings bank account.
- Under these Yojana, account holders are not required to keep the minimum balance in this account.
- Account holder will get the interest on the deposit amount.
- Account holder will be provided with a RuPay debit card.
- The Pradhan Mantri Jan Dhan Yojana account holder is provided with an accident insurance cover of Rupees one lakh. Those who opened accounts after 28th August 2018, the insurance cover has been increased to rupees 2 lakhs.
- After adequate operation of the account for 6 months, the account holders get the benefit of overdraft up to Rs.10,000.
- The Pradhan Mantri Jan Dhan Yojana account holders are eligible for other different schemes like Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), Atal Pension Yojana (APY) and Micro Units Development and Refinance Agency Bank (MUDRA).
- Account holders can get the life insurance cover of Rs.30,000 and this amount is payable on the death.
How to Apply for PMJDY Online?
- If you want to apply for Pradhan Mantri Jan Dhan Yojana account online, then first you have to visit the official website at http://www.pmjdy.gov.in/scheme.
- After that Download the application form that are available in both Hindi and English.
- Then, fill the financial inclusion account opening form.
- After that submit the necessary documents.
The financial inclusion account opening form has three sections.
- Details of the account holder
- Details of the nominee
- Details of the bank where the account is being opened
Banks Offering PMJDY Scheme
One can open a Pradhan Mantri Dhan Yojana account under 27 public sector banks in India.
- Allahabad Bank
- Andhra Bank
- Bank of Baroda
- Bank of India
- Bank of Maharashtra
- Bharatiya Mahila Bank
- Canara Bank
- Central Bank of India
- Corporation Bank
- Dena Bank
- IDBI Bank
- Indian Bank
- Oriental Bank of Commerce
- Punjab National Bank
- Punjab & Sind Bank
State Bank of India, including affiliated banks like:
- State Bank of Bikaner and Jaipur
- State Bank of Hyderabad
- State Bank of Mysore
- State Bank of Patiala
- State Bank of Travancore
- Syndicate Bank
- Union Bank of India
- Vijaya Bank
The private sector banks
- Axis Bank Ltd.
- Dhanlaxmi Bank Ltd.
- Federal Bank Ltd.
- HDFC Bank Ltd.
- ICICI Bank Ltd.
- IndusInd Bank Ltd.
- ING Vysya Bank Ltd.
- Karnataka Bank Ltd.
- Kotak Mahindra Bank Ltd.
- Yes Bank Ltd.
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