The Prime Minister had announced a comprehensive financial inclusion scheme “Pradhan Mantri Jan Dhan Yojana 2023” in his Independence Day speech on 15 August 2014. Under which people with low income can be connected to the main banking stream. Taking forward the campaign of “Har Ghar Jan Dhan Account”, a target has been set to open at least one bank account from each family.
This scheme was a revolutionary step which has the power to connect almost all the population of the country with banking facility. Crores of accounts have been opened in banks under this scheme. In return, insurance of 1 lakh or 2 lakh and loan up to Rs 10,000 will be available without any guarantee.
Pradhan Mantri Jan Dhan Yojana Purpose
The only objective of Pradhan Mantri Jan Dhan Yojana is that the banking services should reach the underprivileged sections of the society and they consider themselves to be connected with the mainstream. After this, the help of the upcoming scheme or money given by the government can be given directly to that person’s bank account, so that government corruption can be reduced. Let us tell you that during the Corona period, the government had given help of Rs. 500 per woman in Jan Dhan account for 3 months.
Pradhan Mantri Jan Dhan Yojana Information 2023
| Scheme Name | Pradhan Mantri Jan Dhan Yojana 2023 |
| Starting Date | 28.08.2014 |
| Launched By | Shri Narendra Modi |
| Eligibility Age | Minimum Age – 18 Years Maximum Age – 64 Years 364 Days |
| Important Document | Aadhaar Card |
| Where to Open Jan Dhan Account | Bank Branch or bank Help Center |
| Benefits | 30,000रु Life Insurance 2 Lakhs Rupees Accidental Insurance 10,000 रु Overdraft Benefit |
| Application Forms | PMJDY Application Form download PDF (Hindi) PMJDY Application Form download PDF (English) |
| Customer Care No. | 1800-11-0001 1800-180-1111 |
| Official Website | pmjdy.gov.in |
PMJDY Eligibility
- Must be an Indian citizen
- Eligibility Age ( 18 Years – 64 Years 364 Days )
- Guardian / parent’s consent will be required to open Jan Dhan account of a minor above 10 years
PMJDY Documents
- Aadhaar Card (as identity proof and address proof)
- Voter Card, PAN Card, Passport, MNREGA Card (if Aadhaar Card is not available)
- mobile number
- passport size photo
NOTE: If the present residential address is different from the address entered in the above mentioned document. A self-declaration of the current residential address will have to be given in writing.
NOTE: If you do not have any of the above documents, then Jan Dhan account can be opened by giving the ID card of the institution where you work.
PMJDY Features
- This is a Zero Balance Account, in which there is no charge for not maintaining the minimum monthly amount.
- According to the bank, the monthly minimum amount has to be kept for taking the check book service.
- Interest will be given on the amount deposited in Jan Dhan account.
- The amount of assistance given by the government can be received in the account through DBT.
Mudra Yojana, Jeevan Jyoti Bima Yojana, Suraksha Bima Yojana, Atal Pension Yojana etc can be opened in this account.
- During the Corona period, Rs 500 per woman Jan Dhan account holders were received by the government for 3 months.
- On opening a Jan Dhan account, a RuPay Debit Card is available, through which you can easily withdraw from ATMs and do online offline shopping.
- The account holder is given Accident Insurance up to 2 lakhs. Due to which the account holder or his family gets an amount of 2 lakhs on accidental death or total disability.
- 45 or 90 days before the accident to get insurance cover
- There should be at least one transaction in the inner bank
- For more information read Accident Insurance (Jan Dhan Yojana)
- Insurance of 2 Lakh – If Jan Dhan account is after 28.08.2014
- Insurance of 1 Lakh – If Jan Dhan account is before 28.08.2014
- Life insurance of Rs 30,000 is given to the account holder. Due to which the family will be given financial assistance of Rs 30,000 in case of death of the account holder due to any reason.
- This life insurance will be available only to those account holders who have
- Jan Dhan account was opened between 20.08.2014 to 31.01.2015
- For more information read Life Insurance (Jan Dhan Yojana)
10,000 overdraft / loan facility can be availed by the account holder.
- Overdraft: It is like a loan, the bank gives this money on some interest.
- Overdraft up to 2000 is available without any conditions
- Account must be at least 6 months old to avail overdraft above Rs.2000
- 4 times the average amount of 6 months or Rs 10,000 whichever is less
- Minor account holders below 5 years cannot avail overdraft facility
- There are no Fees or Charges for opening an account.
- Excellent facility is provided for money transfer across the country.
PMJDY Updates 18.08.2023
- So far 46.18 crore Jan Dhan accounts have been opened, the total amount deposited in those accounts is Rs 1,72,255 crore.
- So far 31.91 crore RuPay Debit cards have been given to the account holders. Due to which the indigenous card is also being promoted.
- Jan Dhan account number in rural area – 30.18 crore
- Jan Dhan account number in urban areas – 15.33 crore
- Now the target of this scheme has changed from “every house” to “every man”, so that banking service has to reach every man and woman.
Pradhan Mantri Jan Dhan Account Open Online
Let us tell you that only a few private banks provide the facility to open PMJDY Account online / Jan Dhan account online sitting at home. Rest you will have to go to the bank yourself and get the Jan Dhan account opened.
The process given below is of one such bank “Bank of Baroda” whose Jan Dhan account can be opened online by visiting the net banking site.
First go to the net banking site of Bank of Baroda. If you are already a customer of this bank and have net banking facility. If you use , then first of all do “LOGIN”.
Otherwise, even if you are not a customer of the bank, you can open an account without logging in.
By visiting the link given above, a “HOME PAGE” of Bank of Baroda will open, there click on “Accounts” and select “Pradhan Mantri Jan Dhan Yojana Account”.
After this a screen like the following will appear. You will see eligibility, documents, benefits etc. about Pradhan Mantri Jan Dhan Yojana, along with “APPLY NOW” will also be visible, click on it.
On clicking, a form-like page like the following will appear, in which you enter name, email, mobile number etc. and then “Submit”.
After this, within 4-5 days, the bank employees will contact you through phone call or SMS and your Jan Dhan account will be opened sitting at home.
Pradhan Mantri Jan Dhan Account Open Offline
- First of all, you have to visit the nearest branch of the desired bank.
- Meet any bank employee there and express your desire to open a Jan Dhan account.
- After all the conversation they will give you a PMJDY application form
- After entering the required details like account holder name, address, Aadhaar number, nominee name, etc., submit it to the bank along with proper documents
- After knowing the veracity of the documents, your Jan Dhan account will be opened as “Zero Balance Account”.
- A RuPay Debit Card along with Accidental Insurance of 2 Lakh will also be given.
How to take loan on Jan Dhan account?
I would like to clarify one thing that the accounts opened under the Pradhan Mantri Jan Dhan Yojana are not overdrafts, but loans. Before proceeding further let us know the difference between loan and overdraft,
| Name | Loan | Overdraft |
|---|---|---|
| Target | Paying money to the account holder at some interest rate | Paying money to the account holder but the amount to be paid depends on the continuity of your account |
| Documents | You may have to give a bundle of documents in the bank | No Documents Needed |
| Interest Rate | Interest rate fixed by the bank | Fixed by the bank (can be same in both) |
| Loan Closure | Loan Closure Bank charges 3 to 4% penalty for premature closure of loan account | You can return the entire money whenever you want without any charges |
Example:
- In case of Loan: 1 lakh loan at 11% annual interest rate. (The loan amount does not depend on the average amount of the account)
- In case of Overdraft: If the average amount of an account is Rs. 40,000, then 3 to 4 times of this amount is given as an overdraft with an equal interest rate. (The last month’s record of your account tells you how much you will get the overdraft amount),
- Your Jan Dhan account should be at least 6 months old only then you will be able to get an overdraft.
- There is no average amount required in the account to get an overdraft of Rs. 2000, except that the age of your account is 6 months or more.
- Overdraft facility is given even if there is no balance in the account.
- For overdrafts above Rs.2000, 4 times the average amount for 6 months or Rs.10,000, whichever is less, is sent to the account in 2 to 3 days.
- With the help of RuPay Debit Card, you can withdraw this Rs 10,000 from ATM.
PMJDY Official Information 2023
| Official Website | pmjdy.gov.in |
| Toll-free Number | 1800-11-0001 1800-180-1111 |
| State Wise Toll-free Number | State wise Toll-free number |
| Mission Documents | Mission Document |
| PMJDY Application Form (Hindi) | PMJDY Account Opening Form Hindi |
| PMJDY Application Form (English) | PMJDY Account Opening Form English |