Pradhan Mantri Jan Dhan Yojana (PMJDY) Details & Benefits

Jan Dhan Yojana | Pradhan Mantri Jan Dhan Yojana | PM Jan Dhan Yojana | PMJDY

The government of India launched Pradhan Mantri Jan Dhan Yojana in the year 2014. The Yojana was established as a step towards financial inclusion. The main objective of the Jan Dhan Yojana was to spread awareness regarding the opening of bank accounts. Also, every citizen or individual should have at least one bank account opened in any bank.

Click to read in Hindi: प्रधानमंत्री जन धन योजना

Jan Dhan Yojana is the prime minister who takes one of the most significant and the best initiatives. The scheme’s primary focus is to provide every household with financial services and create awareness of owning a bank account. It also allows the beneficiaries to access credit cards, remittances facility, insurance, and pension. 

What is Pradhan Mantri Jan Dhan Yojana? 

Launched by India’s government in 2014, Pradhan Mantri Jan Dhan Yojana is a nationwide scheme. The objective of the plan is to provide financial bank services to every household. These services include banking, credit and debit card access, savings, deposit banking account, and many other benefits. Right after the Pradhan Mantri yojana scheme launch, four crore bank accounts have been opened under this scheme till September 2014. 

Who offers the Pm Jan Dhan Yojana scheme? 

Any individual who wants to get their bank account to be opened can get it done in any nearby bank branch. Bank accounts under this scheme are opened at zero balance. If any individual requests the bank to provide him or her with the checkbook, the person must maintain the minimum amount of compensation in the bank account. People with this bank account are issued with Rupay debit cards to be used across all the bank ATMs. 

Eligibility criteria for the PM Jan Dhan Yojana scheme: 

Make sure you check the eligibility criteria for the scheme before applying for it: 

  1. To open primary savings account under the Pradhan Mantri Jan Dhan Yojana scheme, you need to be India’s citizen. 
  2. Your age should be 10 years and above.
  3. You should not have any other existing bank account. 

Essential documents required for the opening of bank account under the scheme Pradhan Mantri Jan Dhan: 

Make sure you own these verified documents before you apply for the pradhan Mantri Jan Dhan yojana

  • The Voter’s ID issued by the Election Commission of India
  • The Aadhar Card
  • Permanent account number (PAN)
  • The passport
  • The driving license
  • Any other document as notified by the Central Government

What are the exclusive benefits of the pradhan Mantri Jan Dhan Yojana scheme? 

There are many benefits of the Jan Dhan Yojana scheme. Let’s have a look in detail at all the system’s benefits.

  1. The scheme’s beneficiaries will get accidental insurance of about Rs 1 lakh and a cover of Rs 30,000- a payment on beneficiaries’ death.
  2. People under the scheme can avail of an overdraft facility of upto rs 5000/-. This feature is available for only one account per household. Though the overall amount may look small, it is still a boon for the people below the poverty line. This feature allows them to invest in a more profitable avenue. 
  3. Beneficiaries are also provided with a mobile banking facility. They can quickly check the balance and make a transaction from all over the world. 
  4. The account holders are also eligible for interest on their deposit.
  5. They are not mandated to maintain a fixed amount in the bank. They can keep their accounts at zero balance too. 
  6. All the account holders can easily access pension services and other insurance tools under this scheme. 

Different Banks who are offering Pradhan Mantri Jan Dhan Yojana scheme services:

Mentioned below are names of the banks that will provide you with assistance as mentioned above of the scheme: 

Private Sector Banks:

  • HDFC Bank
  • ICICI Bank
  • Axis bank
  • Kotak Mahindra Bank
  • YES Bank
  • IndusInd Bank, and many more

Public Sector Banks

  • State Bank of India (SBI)
  • Punjab National Bank (PNB)
  • Bank of Baroda
  • Union Bank of India
  • Central Bank of India
  • Canara Bank
  • Bank of India, and many more

How to apply for the Jan Dhan Yojana scheme?

The application process of the Jan Dhan Yojana scheme is straightforward and requires filling out the Jan Dhan Yojana scheme form with your relevant details. All you need to do is download the form and, after filling the details, attest it with all the required documents and submit it to the bank authorities. Once you are done with this, make sure to keep track of your hand Dhan yojana scheme status. 

How to track the status of the pradhan Mantri Jan Dhan Yojana scheme? 

To check the pradhan Mantri Jan Dhan Yojana scheme’s status, you can visit the system’s official portal. On the page, search for the status inquiry tab and enter your application reference if. Click on the check, and you will know the present status of your Jan Dhan Yojana scheme. 

Conclusion

Hence, here is everything that you need to know about the pradhan Mantri Jan Dhan Yojana scheme. You can also apply for the system directly from the official portal and submit your application form to the designated authorities. The plan has helped many Indian citizens in improving their financial conditions with the help of this scheme. 

Also, many private bank sectors provide the Jan Dhan Yojana scheme’s benefits to all the individuals. 

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