Pradhan Mantri Jan Dhan Yojana: Pradhan Mantri Jan Dhan Yojana 2020: Pradhan Mantri Jan Dhan accounts can be opened in the name of a child below 18 years, but above 10 years while his or her parents will be operating the account. An ATM is also issued in the name of the child. At the age of 18, after submitting identity proof, the bank will be handed the account to the name of the real beneficiary.
Parents are required to submit any valid proof such as an Aadhaar card, passport or ration card, etc. along with their address proof. If the parents do not have any of these documents, then they can submit any one of the documents issued by the central government through which the identity is revealed.
To open a bank account under the Pradhan Mantri Jan Dhan Yojana, you can download the form from the PM Jan Dhan Yojana website or from the website of any bank. Its forms are also available at branches of banks where you can directly go and fill-up the form in the bank itself.
Special Benefits under Pradhan Mantri Jan Dhan Yojana
- Interest on deposit.
- Accidental insurance cover of Rs. 2 lakhs
- No minimum balance required.
- The scheme provide life cover of Rs. 30,000/- payable on death of the beneficiary, subject to fulfillment of the eligibility condition.
- Easy Transfer of money across India
- Beneficiaries of Government Schemes will get Direct Benefit Transfer in these accounts.
- After satisfactory operation of the account for 6 months, an overdraft facility will be permitted
Access to Pension, insurance products. - The Claim under Personal Accidental
Insurance under PMJDY shall be payable if the Rupay Card holder has performed a minimum of one successful financial or non-financial customer-induced transaction at any Bank Branch, Bank Mitra, ATM, POS, E-COM, etc. Channel both Intra and Inter-bank i.e. on-us (Bank Customer/rupay card holder transacting at the same Bank channels) and off-us (Bank Customer/Rupay card holder transacting at other Bank Channels) within 90 days prior to the date of the accident including accident date will be included as eligible transactions under the Rupay Insurance Program 2019-2020.
- Overdraft facility upto Rs. 10,000/- is available in only one account per household, preferably lady of the household.
- About PMJDY
- Pradhan Mantri Jan Dhan Yojana (PMJDY) was launched in August 2014 as a step towards overall financial inclusion. The objective was to ensure that every individual/family should have at least one bank account. This would give every citizen access to not just banking facilities, but also to various financial subsidies passed by the government. If you are interested in opening a PMJDY account, here is everything you need to know.
Pradhan Mantri Jan Dhan Yojana: Important Links
- Official Notification: Click Here
- Home Page: Click Here