Pradhan Mantri Jan Dhan Yojana Scheme: Account Eligibility and Benefits

Blog

Pradhan Mantri Jan Dhan Yojana Scheme: Account Eligibility and Benefits

Registrationwala

Pradhan Mantri Jan Dhan Yojana has been in news headlines since it recently completed 10 years. PM Shri. Narendra Modi has called this scheme a success. Further, he said on X (Formerly Twitter), “Jan Dhan Yojana has been paramount in boosting financial inclusion and giving dignity to crores of people, especially women, youth, and the marginalized communities.” As of 14.08.2024, the scheme has over 53.01 crore beneficiaries with total deposits of Rs. 2.3 lakh crore. Approximately 30 crore beneficiaries of the PMJDY scheme are women. To know about Pradhan Mantri Jan Dhan Yojana Scheme, along with its account eligibility and benefits, continue scrolling through this article.

About Pradhan Mantri Jan Dhan Yojana

On 15th August, 2014, the world’s largest economic participation scheme Jan Dhan Yojana was announced by PM Shri. Narendra Modi. Then within a few days, on 28th August, this scheme was launched. PMJDY scheme is a national initiative with an objective to make economic participation possible. It has integrated the goal of providing comprehensive economic participation and banking services to every family in India. 

 

Facility to open a basic savings bank account, facility to obtain loan based on need, transfer facility, insurance and pension are some economic facilities offered under the PMJDY scheme. The achievements made under this scheme have been acknowledged by the Guinness World Records. It has certified that “the Department of Economic Services, Government of India has opened the highest number of bank accounts in a week as part of the Economic Participation Campaign, a record 18,096,130”.

What is PMJDY Account Eligibility Criteria?

You must fulfill the following conditions to be eligible for opening a basic savings bank deposit account (BSBDA) with zero balance under Jan Dhan Yojana scheme.

List of Banks Offering PMJDY Accounts

The following banks offer Jan Dhan account benefits:

What are the Documents Required for a PMJDY Account? 

For the KYC process for PMJDY, you are required to submit a document. By providing any of the below documents, you can easily open a PMJDY account.

 

In a Press Release dated 26.08.2014, the Reserve Bank of India (RBI) has clarified as under: 

 

"Those persons who do not have any of the ‘officially valid documents' can open "Small Accounts" with banks. A "Small Account" can be opened on the basis of a self- attested photograph and putting his/her signatures or thumb print in the presence of an official of the bank. Such accounts have limitations regarding the aggregate credits (not more than Rupees one lac in a year), aggregate withdrawals (nor more than Rupees ten thousand in a month) and balance in the accounts (not more than Rupees fifty thousand at any point of time). 

 

These accounts would be valid normally for a period of twelve months. Thereafter, such accounts would be allowed to continue for a further period of twelve more months, if the account-holder provides a document showing that he/she has applied for any of the Officially Valid Document, within 12 months of opening the small account.”

Process for PMJDY Account Opening Online

If you want to open a PMJDY account online, you must follow the below-mentioned steps:

Visit the Bank’s Website

As a first step, you need to visit the website of the bank in which you want to open the Jan Dhan Account. Make sure the bank of your choice has an online process for opening a PMJDY account. Certain banks require you to visit their branch to open an account under Pradhan Mantri Jan Dhan Yojana. 

Look for the PMJDY Section

Look for the PMJDY section on the website. Generally, it is available on the homepage or in the ‘accounts’ section. You can take help of the search option if you’re unable to locate it.

Fill Out Application Form

In the next step, you must fill out the Jan Dhan account opening application form. You will be required to provide basic information in the form such as your name, aadhaar number, contact details, etc.

Upload all the Required Documents

You must upload all the documents asked on the bank’s portal in PDF or JPG format, whichever is required. Make sure you provide copies which are clear and readable.

Submit PMJDY Form

Once you are done filling the form and attached all the required documents, click on the ‘submit’ button. Now, the bank will receive your application and begin processing it. 

Successful Opening of PMJDY Account

If the bank is satisfied with your application, you will receive a mail or a call regarding the approval. If any additional information or documentation is required, the bank will let you know. 

 

By following the above-mentioned simple steps, you can easily open a Jan Dhan account without any hassle. 

 

What are the Benefits of a Jan Dhan Account?

There are many PMJDY account benefits.

Conclusion

Pradhan Mantri Jan Dhan Yojana, also known as PMJDY Scheme, is one of the most successful schemes launched by the Government of India. Recently, the scheme completed 10 years of being in existence. Crores of Indians have benefitted from this scheme, out of which more than half of them were women. Most major banks in India have an online facility of opening a PMJDY account online or by visiting their branch. You can open a PMJDY account in the bank of your choice after confirming they’re offering account opening under the Jan Dhan Yojana.

Related post

Subscribe to our newsletter