PMJDY

PRADHAN MANTRI JAN-DHAN YOJANA (PMJDY)

Pradhan Mantri Jan-Dhan Yojana (PMJDY) is National Mission for Financial Inclusion to ensure access to financial services, namely, a basic savings & deposit accounts, remittance, credit, insurance, pension in an affordable manner. Under the scheme, a basic savings bank deposit (BSBD) account can be opened in any bank branch or Business Correspondent (Bank Mitra) outlet, by persons not having any other account.

PMJDY Information

The Indian Government launched the Pradhan Mantri Jan Dhan Yojana (PMJDY) in order to provide financial services and products to individuals who do not have access to a bank account.

  • No minimum balance to be maintained
  • As per bank’s saving’s account interest rate
  • Transfer of money is simple

PMJDY Eligibility

In order for individuals to open a PMJDY account, the below given criteria must be met:

  • You must be citizen of India
  • You should be at least 10 years of age
  • You should not have a bank account

Documents required to open PMJDY account:

In case individuals wish to open an account, viable documents must be submitted. The list of documents required for PMJDY account under the scheme are mentioned below:

  • Passport
  • Permanent Account Number (PAN) Card
  • Aadhaar
  • The National Rural Employment Guarantee Act (NREGA) issued job card.
  • Driving license
  • Voter ID
  • Identity card with photo which has been issued by the central or state government departments, public sector undertakings, scheduled commercial banks, public financial institutions and statutory or regulatory authorities.

Benefits under PMJDY:

  • One basic savings bank account is opened for unbanked person.
  • There is no requirement to maintain any minimum balance in PMJDY accounts.
  • Interest is earned on the deposit in PMJDY accounts.

PMJDY accounts are eligible for Direct Benefit Transfer (DBT), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), Atal Pension Yojana (APY)schemes.

 

https://www.pmjdy.gov.in/ – official website of PMJDY