Special Benefits Of Pradhan Mantri Jan-Dhan Yojna, Don't Miss

Pradhan Mantri Jan-Dhan Yojana (PMJDY) is a National Mission on Financial Inclusion. The plan envisages universal access to banking facilities with at least one basic banking account for 'every adult', financial literacy, access to credit, insurance and pension facility. Check below the key features:

How is Pradhan Mantri Jan-Dhan Yojna different from earlier Financial Inclusion Plan (Swabhiman)?

PMJDY focuses on coverage of 'every adults' as against the earlier plan which focused on coverage of villages. It focuses on coverage of rural as well as urban areas. PMJDY entails to cover entire country by extending banking facilities to 'every adult' against the earlier goal to cover 'every household', according to information available at State Bank of India official website.

Who Can Open PMJDY Account?

Any individual can open PMJDY account at branch channel and there is no age restriction. If you seek to pen at BC (Business Correspondents) channel, the age limit is 10 years and above.

Can you open a joint account in Pradhan Mantri Jan-Dhan Yojana?

Yes, joint account can be opened at branches only. Account can be opened in any bank branch or CSP (Customer Service Point) outlets.

What is the minimum balance account?

The minimum account balance in Pradhan Mantri Jan-Dhan Yojna is NIL.

What are the direct/special benefits attached to PMJDY?

There are various direct and special benefits available in PMJDY that can be described below as:

1. You can avail Interest on deposit.

2. You can seek accidental insurance cover of Rs.1.00 lac (Rs 2.00 lac for new PMJDY accounts opened after 28.08.2018)

3. There is no minimum balance required.

4. It offers easy transfer of money across India
Beneficiaries of government schemes will get direct benefit transfer in these accounts.

5. After satisfactory operation of the account for 6 months, an overdraft facility will be permitted, subject to eligibility criteria.

6. You can avail access to pension and insurance products.

How much interest savings would earn in PMJDY account?

Interest rate applicable for Saving Bank Accounts shall be admissible to accounts opened under PMJDY Scheme.

How much interest will be charged by bank on overdraft facility in PMJDY?

It will be 3% above 1 year MCLR.

Will cheque book be issued in accounts opened under PMJDY?

No, there is no cheque book issued in accounts opened under PMJDY