Pradhan Mantri Jan Dhan Yojana was launched in the year 2014 with the aim to increase the reach of banking facilities in the country so that there will be at least one bank account in every household. The scheme aims to ensure access to all kinds of financial services including banking, credits, savings, deposits, pension, and insurance to people from low-income groups.
Accounts under PMJDY can be opened with zero balance and minimum paperwork. So far, more than 42 crore accounts have been opened under PMJDY.
Features of Pradhan Mantri Jan Dhan Yojana
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Account holder receives a RuPay debit card
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Jan Dhan account includes an accident cover of 2 lakh rupees
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Zero minimum balance required
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Only Aadhar card or Voter ID is required to open the account, no other documents needed
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Life Insurance of Rs. 30,000 with Jan Dhan account for all the first-time account holders. On the demise of the account holder, the person nominated by him gets this money
Transaction in Every Three Months
If the account holder dies in an accident, the nominee of the account holder can claim an amount of Rs. 2 lakh and Rs. 30,000. But for this, the account holder must have done the transaction through the account or RuPay card from the date of the accident to 90 days in advance. So, the Jan Dhan account holder should do the transaction at least once in three months.
One more Special Feature
Jan Dhan account gives a special facility that even if there is no money in the account, an account holder can withdraw up to Rs. 10,000. This facility is available after 6 months of opening the account.
