Pradhan Mantri Jan Dhan Yojana (PMJDY) is a financial inclusion program launched in 2014 to ensure universal access to banking service - such as saving accounts, credit, insurance, and pension - especially for the underserved and unbanked population in India
Benefits Offer Under the Scheme
- Basic Savings Bank Account with zero minimum balance requirement
- RuPay debit card for easy cash withdrawals and digital transactions
- Accidental insurance cover (typically up to Rs2 lakh, subject to conditions)
- Life insurance cover (available for eligible beneficiaries enrolled initially)
- Overdraft facility (up to Rs10,000 for eligible account holders)
- Direct Benefit Transfer (DBT) access for government subsidies and welfare schemes
- Access to micro-credit, pension, and insurance products
- Financial inclusion support, especially for rural and unbanked populations
Eligibility
- Indian Citizen
- Minimum age:10 years (minors can open accounts with a guardian)
- Must not already have a basic savings bank account (or can convert an existing account into a PMJDVaccount)
- Requires basic KYC documents (Aadhaar card, voter ID, PAN, etc.)
- If KYC documents are not available, a Small Account can be opened with simplified documentation (subject to certain limits)
- Priority given to unbanked and financially excluded individuals, especially in rural areas
Application Details
- Visit the nearest bank branch or Business Correspondent (Bank Mitra) outlet
- Request and fill outthePMJDYaccount openingform (available at banks or online)
- Submit required KVC documents (Aadhaar, voter ID, PAN, etc.) or opt for a Small Account with simplified KYC
- Provide passport-sizedphotograph (if not linked with Aadhaar)
- Submit the form and documents to the bank for verification
- Once approved, the bank account is opened
- Receive account details, passbook, and RuPay debit card
- Activate the account by making a first transaction (if required)
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