PMJDY – Pradhan Mantri Jan Dhan Yojana

Pradhan Mantri Jan Dhan Yojana is a scheme launched by the government in favour of the weaker sections of our society so that they can get access to financial services provided by the government easily. These financial services are Insurance, Pension, Credits, Savings and Deposit accounts, etc. 

This scheme named Pradhan Mantri Jan Dhan Yojana (PMJDY) was launched by the government in August 2014 and as per the data of the Ministry of Finance, there were over 4 crores accounts were opened under this scheme till September 2014, which is a good number. These bank accounts are for the underprivileged section of the society which does not have access to regular banks and has no bank account. This scheme helps people to open a bank account with zero charges and have access to financial services like pension, insurance, and banking.

With the benefit of opening a bank account with zero charges (zero balance account), this scheme also allows maintaining the bank account at a minimum balance and provides a cheque facility.

How to open a Pradhan Mantri Jan Dhan Yojana Account?

If you want to open a Pradhan Mantri Jan Dhan Yojana account you need to follow some steps, and these steps are given below: 

1. First of all, you need to log on to the official website of PMJDY for the application form as you want to apply for opening the account. 
2. After login, you will find an application form on the same website and you will see that the particular form is available in the English language, as well as the Hindi language. You can choose the language of the form as per your preference. 
3. The name of the form available for the application of opening a Jan Dhan account is the financial inclusion account opening form, you need to fill this form and submit it along with the required documents as there is a whole list of the documents required along with the application form. 
4. This form is very easy to fill and has three sections in the first section you will be filling in your basic details like your name, address, etc., another section is for the details related to the nominee and one more section for the information about the bank in which the account is being opened.

PMJDY – Eligibility Criteria

There are not many requirements to open an account just a few of them, these are:

• The candidate applying should be an Indian.
• The age of the candidate applying should be above 10 years.
• Candidates applying should not be having any bank account. 
• People who are eligible to pay tax based on their annual income are not eligible for this scheme, even the families of the taxpayers are also not eligible for the PMJDY scheme. 
• People who already are subscribers of the Aam Admi Bima Yojana which is another scheme by the government for underprivileged citizens are also not eligible for the PMJDY scheme. 

Documents required for PMJDY Account

If a candidate wants to open an account under the scheme of PMJDY, some documentation is required to ensure that you are the right candidate to apply for the scheme. The documents required are:

• Passport 
• PAN card
• Aadhaar Card
• Driving license
• Voter ID card
• Job card issued under NREGA
• Passport size photograph attested by a Gazetted Officer along with a letter.
• Also, an identity card is issued by the Central or State Government.

Rate of Interest under PMJDY

The rate of interest under PMJDY depends upon the bank in which the account will be opened, the rate of interest will be decided by the bank according to their policies.

Benefits of Prime Minister Jan Dhan Yojana

Our government keeps on launching different schemes for the people and especially for the less privileged section of our society. Different schemes have different benefits but we have schemes for every kind of financial problem of this section of society, at least the government have tried to launch these schemes for the betterment of the people. 

Just like all the other schemes, PMJDY also has so many benefits. As there are several benefits under this scheme they are mentioned below: 

1. Whatever the amount that will be deposited in the account opened under this scheme, will be offered with the interest over that particular amount.
2. Candidates do not have to maintain any minimum balance in the account. But, if you wish to take the cheque facility, you need to have a minimum balance.
3. Bank provides an overdraft facility to the candidate if the account is maintained for 6 months with good manners.
4. The candidate can also receive Accidental cover insurance of up to Rs.1 lakh under the scheme of RuPay.
5. If the account was opened between August 20, 2014, and January 31, 2014, and by any chance, if the beneficiary passes away life cover of Rs. 30,000 will be provided.
6. Insurance and pensions are easily accessible under this scheme.
7. If the candidates are the beneficiaries of any government schemes, there is an option of Direct Benefit Transfer is provided.
8. Candidates can check their account details by using the facility of mobile banking.

Banks providing PMJDY scheme

An individual can open an account under the PMJDY scheme in a public bank and private banks too. The list of banks is: 

Private Banks:

• Dhanlaxmi Bank Ltd.
• YES, Bank Ltd.
• Kotak Mahindra Bank Ltd.
• Karnataka Bank Ltd.
• Federal Bank Ltd.
• HDFC Bank Ltd.
• Axis Bank Ltd.
• ING Vysya Bank Ltd.
• ICICI Bank Ltd.
• Induslnd Bank Ltd.

Public Banks:

• Union Bank of India
• Punjab National Bank (PNB)
• Allahabad Bank
• Syndicate Bank
• Dena Bank
• Oriental Bank of Commerce (OBC)
• Punjab and Sind Bank
• Central Bank of India
• Indian Bank
• IDBI Bank
• Corporation Bank
• Canara Bank
• Bank of Maharashtra 
• Andhra Bank
• Bank of Baroda
• State Bank of India (SBI)
• Vijaya Bank

Withdrawing funds from the PMJDY account

If you are willing to withdraw (PMJDY Withdraw) any funds from the PMJDY account, you can do it by using a RuPay Debit Card. It is a type of bank account that enables an account holder to withdraw funds whenever there is a need for money. However, there is a withdrawal limit which is Rs.10,000 at a time from a bank account under the PMJDY scheme. The candidate can only deposit an amount of Rs.1 lakh in this account.

Application Form for PMJDY

Below the steps for download the PMJDY application form:

1. You can download the application form for the PMJDY scheme from the official website of Pradhan Mantri Jan Dhan Yojana. This form has three sections which include personal details, details of the nominee, and bank details. You can download the application form in Pdf format and choose a language according to your preference. 
2. In the downloaded form, you will fill the band name, along with the code of the bank. Also, the branch of the bank and the name of the village or town, sub-district, block name, district, ward number, village code, and town code.
3. Next, you will fill in your details such as your name, address, occupation, Aadhar number, annual income of the candidate, existing bank accounts of family members, and also fill in the details of your Kisan credit card. You also need to fill the checkbox for the requirement of a RuPay Debit card.
4. Next, you will fill in the details for the nominee and submit the form to the bank branch nearest to you.
5. Make sure you fill the form properly if you feel any difficulty in any part of the form, you can reach to the bank officials for clarification before submitting your form.
6. With the application form remember to attach all the required documents to avail all the benefits of the scheme.

Small Account under PMJDY scheme

If you are willing to open an account under the scheme of PMJDY but are short of the documents required, you can open a short account or Chota khata under the same scheme for 12 months period and can submit the rest of the documents within that time limit.

A small account holder can deposit a maximum amount of Rs. 50,000 into this account. There is a maximum credit limit of Rs.1 lakh for this account and the withdrawal limit for this account are Rs. 10,000 at once.

A small account under the scheme of PMJDY can provide help to those candidates who can not afford to open a regular account for savings.

Frequently Asked Questions

Q1. In which bank small account can be opened?
Ans. A small account can be opened in any of the banks listed under the scheme of PMJDY.

Q2. What is the source to get the application form for the PMJDY scheme?
Ans. You can visit the official website of Pradhan Mantri Jan Dhan Yojana and can download the application form in pdf in whatever language you prefer.

Q3. Is the application form available in the Hindi language?
Ans. Yes, the application form for Pradhan Mantri Jan Dhan Yojana is available in the Hindi language, you can simply switch the language of the form and can download the form.

Q4. What are the eligibility criteria for PMJDY?
Ans. The eligibility criteria for the PMJDY scheme is:

• The nationality of the candidate applying should be Indian.
• The age of the candidate applying should be above 10 years.
• Candidates applying should not be having any bank account.

Q5. Is Aadhar Card required for the PMJDY scheme?
Ans. Yes, Aadhar Card is also mandatory as a document for PMJDY scheme application.