Do you know you can withdraw up to Rs 10,000 even if you do not have any balance in your account? It may sound strange, but it’s true. What all you need to do is to open a PM Jan Dhan account under the Pradhan Mantri Jan Dhan Yojana.
According to reports, the number of PM Jan Dhan accounts on zero balance has now crossed 41 crores.
The PM Jan Dhan account holders, apart from withdrawing Rs 10,000, get many facilities. They get a Rupay Debit Card, through which you can withdraw money from the account and can also make purchases.
It is worth mentioning that Prime Minister Narendra Modi launched the Jan Dhan Yojana in 2014. Under this scheme, by January 6, 2021, the total number of Jan Dhan accounts increased to 41.6 crore.
According to reports, the number of accounts with zero balance has decreased continuously since 2015. In March 2015, there were 58% accounts in which there was no balance, but on 6 January it has come down to 7.5%. That is, now people are also depositing money in it.
Benefits under PM Jan Dhan account
- Children below the age of 10 years can also open account under the Jan Dhan Yojana.
- One basic savings bank account is opened for unbanked person.
- There is no requirement to maintain any minimum balance in PMJDY accounts.
- Interest is earned on the deposit in PMJDY accounts.
- Rupay Debit card is provided to PMJDY account holder.
- Accident Insurance Cover of Rs.1 lakh (enhanced to Rs 2 lakh to new PMJDY accounts opened after 28.8.2018) is available with RuPay card issued to the PMJDY account holders.
- An overdraft (OD) facility up to Rs. 10,000 to eligible account holders is available.
- PMJDY accounts are eligible for Direct Benefit Transfer (DBT), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), Atal Pension Yojana (APY), Micro Units Development & Refinance Agency Bank (MUDRA) scheme.
Documents required to open Jan Dhan account
You need to produce your Aadhaar card to open Jan Dhan account. However, if you do not have Aadhaar Card/Aadhaar Number, then you can give your Voter ID card, driving license, PAN card, passport & NREGA Card. If these documents also contain your address, it can serve both as proof of identity and address.
If a person does not have any of the ‘officially valid documents’ mentioned above, but it is categorized as low risk by the banks, then he/she can open a bank account by submitting any one of the following documents:
- Identity Card with applicant’s photograph issued by Central/State Government Departments, Statutory/Regulatory Authorities, Public Sector Undertakings, Scheduled Commercial Banks and Public Financial Institutions;
- Letter issued by a gazette officer, with a duly attested photograph of the person.