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, Banking/ Savings & Deposit Accounts, Remittance, Credit, Insurance, Pension in an affordable manner.

Account can be open in any bank branch or business correspondent outlet. With the zero balance the PMJDY accounts are being opened. However, he/she will have to fulfil minimum balance critera if the account holder wishes to get cheque book.

Documents required opening an account under Pradhan Mantri Jan-Dhan Yojana:

No other document is required if Aadhaar Card/ Aadhaar Number is valid. If the address is changed then self certification of current address is sufficient.
If the Aadhar card is not available then any one of the following official valid documents is required: Driving License, Voter ID, Passport, PAN Card & NREGA Card. It can serve both as proof of Identity and Address if these documents also contain your address.
If a person does not have any of the officially valid documents but by the bank it is categorized as low risks, then by submitting any one of the following documents he/she can open a bank account:
Identity Card with applicants photograph issued by Central/ State Government Departments, Statutory/ Regulatory Authorities, Public Sector Undertakings, Scheduled Commercial Bank and Public Financial Institutions.
Letter issued by a gazette officer, with a duly attested photograph of the person.


Special Benefits under PMJDY Scheme:

  • Interest on Deposit.
  • Accidental Insurance cover of Rs. 1. 00 lac.
  • No minimum balance required.
  • Life insurance covers of Rs. 30, 000.
  • 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.
  • Accidental Insurance cover, RuPay Debt card must be used at least once in 45 days.
  • Overdraft facility up to Rs. 5000/- is available in only one account per household, preferable lady of the household.


Ministry of Finance Issues Clarifications with Regard to Different Aspects of the Pradhan Mantri Jan Dhan Yojana (PMJDY) Including about Availing of Benefits under the Yojana:

With regards to different aspects of the Pradhan Mantri jan Dhan Yojana (PMJDY) from time to time various queries or questions have been raised. The Minnistry of Finance has responded to those queries and issued various clarifications in that regard from time to time.

Now for the benefit of account holders under PMJDY the Ministry of Finance has further issued the following classifications:

  1. Frequently Asked Questions (FAQs) on the Yojana are available on the website
  2. A person who is already having a bank account with any bank NEED NOT to open a separate account under PMJDY.
  3. He/ She will just have to get issued a RuPay Card in his existing account to get benefit of accidental insurance. If it is being operated separately in the existing account then over draft facility can be extended.
  4. Accidental Insurance coverage under PMJDY:
    In the age group of 18-70 accidental insurance of Rs. 1 lakh is available to all where once in 45 days of receipt RuPay card need to be used.
  5. Claim information should be given his or her bank where account is maintained within 30 days from the date of accident.

Life Insurance Coverage under PMJDY:

Basic eligibility conditions:-

  • Persons opening bank account for the first time, with RuPay card in addition, during the period from 15th Aug 2014 to 26th January 2015.
  • The persons should normally be Head of the family or an earning member of the family and should be in the age group of 18-59.
  • Account holder need to have valid RuPay card.
  • The account can be any bank account including a small account.
  • Only one person in the family will be covered and in case of the person having multiple cards / accounts, the benefit will be allowed only under one card i.e. one person per family will get a single cover of Rs. 30,000/-, subject to eligibility conditions.
  • The claim of Rs.30,000/- is payable to the nominee(s) of account holder who need to submit necessary documents to the Nodal Branch of the concerned Bank.
  • Government employees (serving/retired) and their families, persons filing Income Tax Return/TDS deductees and persons covered under the Aam Adami Bima Yojana, are ineligible for Life insurance under PMJDY.


The Guidelines and Features of Life Cover under Pradhan Mantri Jan Dhan Yojana (PMJDY):

Download Policy DetailsĀ 


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