How to open a Pradhan Mantri Jan Dhan Yojana Bank Account without Aadhar Card or valid documents?

The one question that has always dogged any financial inclusion plan in India is how the deprived class would ever furnish documents like a PAN card to open any form of account.

But, to open a Pradhan Mantri Jan Dhan Yojana Bank Accounts (PMJDYBA) there are some relaxations. At least for the first one year you can do with no Aadhar Card for opening a Pradhan Mantri Jan Dhan Yojana Bank Accounts.

In fact, as per a RBI directive all you need in the first one year is just two photographs.

What about after one year?

Until one year these accounts would be treated as small accounts. For continuance of the account one has to prove that one has applied for any of the official documents needed to apply for the PMJDYBA. After that the accounts would be regularized if you furnish one of the proofs required.

But, these accounts come with certain clauses. You would have to ensure that at no time the balances in these accounts cross the threshold limit of Rs 50,000. Also, the total credit in these small accounts should not exceed Rs 1 lakh and withdrawals per month are limited to Rs 10,000 per month.

Quick features of opening a Pradhan Mantri Jan Dhan Yojana Bank Accounts without AADHAR Card or official documents?

1) You just need two photographs initially to open a PMJDYBA.

2) For the first year these accounts would be treated as "Small Accounts".

3) Within one year you have to prove that you have applied for one of the official documents needed to open a PMJDYBA, after which they would be treated as PMJDYBA.

4) Withdrawal limit has been restricted to Rs 10,000 per month with the small accounts.

5) Total credits cannot exceed Rs 1 lakh into the account every year.

Conclusion

The Pradhan Mantri Jan Dhan Yojana Bank Accounts is an excellent opportunity and a super financial inclusive drive. The free insurance and a Rupay Debit Card make them even more attractive. If you know of any folks who have no bank accounts as yet, it's a must you get them to apply for these accounts.

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