Pradhan Mantri Jan Dhan Yojna (PMJDY) Savings Bank A/c
know more about our pradhan mantri jan dhan yojana savings bank account
Learn more about the exclusive Pradhan Mantri Jan-Dhan Yojana Savings Deposit Bank Account Scheme.
The National Mission of Financial Inclusion named as the Pradhan Mantri Jan Dhan Yojana seeks to integrate the poorest of the poor with bank accounts.
Salient Features of the Scheme:
- All households across the country - both rural and urban are to be covered under the scheme. Bank accounts will be opened for 6 crore account in villages and 1.5 crores in urban areas.
- All bank accounts opened under the scheme are to have an overdraft facility of Rs. 5,000.00 for Aadhar-linked accounts after satisfactory operation in the account for 6 months.
- Issuance of RuPay Debit Card with inbuilt Rs. 1 lakh personal accident insurance cover provided by HDFC Ergo and a life cover of Rs. 30,000/- provided by LIC.
Salient Features:
- Purpose
- Provision of affordable financial services of the excluded sections. Identification of household without any bank account and providing Basic Banking Accounts with Overdraft facility and RuPay Debit Card with inbuilt accident insurance cover of Rs. 1 lakh to them.
- Eligibility
- Resident Individual. Age of the account holder should be over 18 years. There is no stipulation on the Income of the person.
- Type of Account
- Single-Domestic Savings Bank Accounts only.
- Documents for Opening Account
- If one has an Aadhaar Card / Aadhaar Number - No other Document required. If address has changed, then a self certification current address is required.
- If one does not have an Aadhaar Card, then any one of these: Voter ID Card, Ration Card, Driving License, Letter from a recognized Public Authority or Public Servant or Sarpanch.
- If one does not have both 1 and 2, any one of these as identity proof: Identity Card of any Accredited Institution, Job Card issued by NREGA and any one of these as address proof: Electricity or Telephone Bill, Birth or Marriage Certificate.
- Minimum / Maximum Balance
- No stipulation / Limit.
- Free Credits allowed into the account
- Deposit of cash at bank branch and Receipt / credit through all electronic payment channels or by means of deposit / collection of cheques drawn by Central / State Government agencies and departments.
- Number of free withdrawals allowed
- 4 withdrawals are free in a month. (Through all channels including ATM, internal transfers, RTGS / NEFT / Standing Instructions / EMI etc). Balance inquiry at ATM is not reckoned for the purpose of determining the number of withdrawals. Rs. 10.00 per withdrawal will be levied for withdrawals exceeding 4 per month.
- RuPay ATM-cum-debit Card Fresh / Renewal
- Allowed free of charge & No Annual / Renewal Fees.
- Mobile Banking & SMS alert
- Allowed.
- Cash Remittance at Parent branch and at Satellite Branches
- No Limit.
- Cash Withdrawals Amount
- Any amount but restricted to Parent Branch Only.
- Restrictions on number of savings bank accounts
- An Individual can hold only one Savings Bank Account and he / she is not allowed to have any other type of SB account.
- Other Products / Services / Deposits
- Account Holder can have any number of Term / Fixed Deposit, RD etc. accounts.
- Special Benefits
- Withdrawal of money from any ATM with a RuPay debit card.
- Accidental insurance cover of Rs. 1 lakh.
- No minimum balance required.
- Additional Benefits
- Easy transfer of money across India.
- Beneficiaries of government schemes will get Direct Benefit Transfer.
- After satisfactory operation of the account for 6 months, an overdraft facility will be permitted.
- About OD Facility
- After 6 months of satisfactory performance on the account, the Bank may optionally consider providing an Overdraft facility starting from Rs. 1,000.00. On regular servicing of the overdraft interest the amount of overdraft may be increased up to Rs. 5,000.00.
- Other Services and Charges not defined
- As applicable for ordinary Saving Accounts.
PMJDY - LIC cover of Rs. 30,000.00
- Occupations covered under AAM AADMI BIMA YOJANA (Format: Adobe "PDF" Document)
- Claim Settlement Procedure (Format: Adobe "PDF" Document)
- Claim Form (Format: MS Word "DOC" File)
Most Important Terms & Conditions governing SB Account Operations:
Download the Application Form:
