PMJDY - Pradhan Mantri Jan Dhan Yojana Last Updated : 26 May 2020

The Indian Government launched the Pradhan Mantri Jan Dhan Yojana (PMJDY) in order to provide financial services and products to individuals who do not have access to a bank account.

  • No minimum balance to be maintained
  • Rate of interest of 4% p.a.
  • Transfer of money is simple
  • Overdraft facility available

Update from India Govt about Covid-19

As part of the Pradhan Mantri Garib Kalyan Yojana that was announced by the Government of India as part of the Covid-19 economic stimulus, more than 20 crore account holders of the Pradhan Mantri Jan Dhan Yojana, who are women, will receive Rs.500 per month for the next three months. This will be transferred directly to their bank accounts. This will help to ease the economic impact of the Covid-19 pandemic on women in the lower socio-economic strata in India.

Pradhan Mantri Jan Dhan Yojana
Pradhan Mantri Jan Dhan Yojana

About Pradhan Mantri Jan Dhan Yojana

The scheme was launched in August 2014, and according to the Ministry of Finance, over 4 crore banks accounts have been opened till September 2014. Under the PMJDY scheme, some of the financial services that are offered to individuals are pension, insurance, and banking.

Under PMJDY zero balance account can be opened by individuals. However, in case individuals would like to have access to the cheque facility, maintenance of a minimum balance is mandatory. No charges will be levied on the individual to open an account under the PMJDY scheme.

For more information, Check out related articles PMJDY Online, PMJDY Withdrawal, PMJDY Form & Pradhan Mantri Ujjwala Yojana

Withdrawal schedule drawn up by IBA for women Jan Dhan account holders

In a move to maintain orderly withdrawal of money and to ensure social distancing, a staggered schedule has been drawn by the Indian Banks’ Association (IBA). The new schedule is between 4 May 2020 and 11 May 2020.

During this period, women Jan Dhan account holders will be able to withdraw the Rs.500 that has been provided by the government for the month of May. Under the PMGKY scheme, Rs.500 will be deposited by the government during the months of April, May, and June to women Jan Dhan account holders. The first instalment was paid in the month of April. The schedule for the disbursement of the amount will depend on the last digit of the individual’s account number. Depending on the number, individuals will be able to withdraw the money on 4 May, 5 May, 6 May, 7 May, 8 May, and 11 May. According to IBA, the main aim of the staggered schedule is to maintain social distancing. The IBA further added that the intimation in regards to the withdrawal will be sent via SMS. According to a statement made by the IBA, individuals can withdraw the money at any ATM after 11 May 2020. According to the directions given by the government, until 30 June 2020, no withdrawal charges will be levied.

PMJDY Eligibility

In order for individuals to open a PMJDY account, the below given criteria must be met:

  • Under the scheme, accounts can only be opened by Indian citizens.
  • Individuals can visit any bank branch or Business Correspondent (Bank Mitr) outlet to open an account under the PMJDY scheme.
  • The savings account can be opened at a bank by minors who are above the age of 10 years old.
  • The account opening form is available in both English and Hindi and is available on the official website of PMJDY (

Documents required to open PMJDY account

In case individuals wish to open an account, viable documents must be submitted. The list of documents required for PMJDY account under the scheme are mentioned below:

  • Passport
  • Permanent Account Number (PAN) Card
  • The National Rural Employment Guarantee Act (NREGA) issued job card. However, a state government officer must sign the card.
  • Driving licence
  • Voter ID
  • Any other documents that have been requested by the central government after consulting with the regulator must be submitted.
    • A photograph which has been attested along with a letter from a Gazetted officer must be submitted.
    • Any ID card that has been issued by the State or Central Government, Scheduled Commercial Banks, Statutory or Regulatory Authorities, Public Financial Institutions, and Public Sector Undertakings must be submitted. However, the ID card must have a photo of the applicant present on it.

Rate of interest under PMJDY

The rate of interest that is offered by most banks under the scheme is 4%.

Benefits of the PMJDY scheme

Given below are the main benefits of PMJDY scheme:

  • Interest is offered on the deposits that are made towards the savings account opened under the scheme.
  • Individuals need not maintain a minimum balance under the scheme. However, in case they wish to avail cheque facilities, a minimum balance must be maintained.
  • In case individuals maintain the account in a good manner for 6 months, an overdraft facility is provided.
  • Individuals receive Accidental Insurance cover of Rs.1 lakh under the RuPay scheme.
  • In case the account was opened between 20 August 2014 and 31 January 2015, life cover of Rs.30,000 is provided in case the beneficiary passes away.
  • Under the scheme, insurance products and pension access are provided.
  • In case individuals are beneficiaries of government schemes, Direct Benefit Transfer option is provided.
  • An overdraft facility of Rs.5,000 is provided to one account in the household. The facility is usually provided to the lady in the house.
  • The Personal Accident cover can be claimed only after the RuPay Card holder has made a successful non-financial or financial transaction. Transactions made within 90 days of the accident are considered to be PMJDY eligible transactions under the scheme. However, the transaction must be made at an E-COM, POS, ATM, Bank Mitra, bank branch, etc.
  • Account holders can check their balance using the mobile banking facility.

Banks that provide the PMJDY scheme

Individuals can open an account under the PMJDY scheme at both public and private sector banks. Given below are the list of banks that participate in the scheme:

Private Sector Banks:

  • Dhanalaxmi Bank Ltd.
  • YES Bank Ltd.
  • Kotak Mahindra Bank Ltd.
  • Karnataka Bank Ltd.
  • IndusInd Bank Ltd.
  • Federal Bank Ltd.
  • HDFC Bank Ltd.
  • Axis Bank Ltd.
  • ICICI Bank Ltd.

Public Sector Banks:

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


  1. Can I open a joint account under Pradhan Mantri Jan Dhan Yojana?
  2. Yes, you can open a joint account under Pradhan Mantri Jan-Dhan Yojana.

  3. Where do I open a bank account under PMJDY?
  4. You can open a bank account under PMJDY with a nominated bank providing this scheme or any other Business Correspondent outlets.

  5. Can I link my link mobile number with my bank account opened under PMJDY?
  6. Yes, you can link your mobile number with your bank account. You can do so by contacting your bank where you have opened your bank account under PMJDY. Bank will enter your mobile number in the CBS system based on the information provided by you.

  7. What is a small account or chota khata account under PMJDY?
  8. A small account is a kind of bank account opened under PMJDY for 12 months. A small account PMJDY can be opened by a person who does not have valid documents to open an account. However, after 12 months, the account holder needs to submit required documents to continue the account.

  9. Am I eligible to enjoy life insurance coverage under my PMJDY Bank Account?
  10. Yes, your family members would receive life insurance cover in case something unexpected happens to you.

  11. How much life insurance cover is offered under PMJDY?
  12. The scheme offers a life insurance cover of Rs. 30,000.

  13. If I have multiple bank accounts under PMJDY, will my dependents receive multiple health insurance cover?
  14. No, your family members will not receive multiple life insurance cover. Only one account will be considered and based on it, the life insurance cover will be issued to one individual.

  15. Does the PMJDY scheme offer accident life insurance cover?
  16. Yes, the scheme offers accidental insurance cover as well. The scheme offers up to Rs. 1 lakh as accidental life insurance coverage.

  17. Is overdraft/loan facility available under PMJDY?
  18. Yes, it is available under the Pradhan Mantri Jan Dhan Yojana. An account holder can avail loan up to Rs. 5000 against his/her bank account opened under PMJDY. However, in order to avail this benefit any account holder needs to continue the account for six months.

  19. Is it possible to extend my loan amount taken against my PMJDY Bank Account?
  20. Yes, it is possible to extend your loan/overdraft taken against your PMJDY Bank Account. Bank may increase this amount, provided you make your repayments on time.

  21. How much processing fees do I need to pay for processing g the loan against my account?
  22. You don’t have to pay any processing fees to get a loan against your account.

  23. What about mobile banking facility? Does my account opened under the PMJDY scheme provide mobile banking?
  24. Yes. You can enjoy mobile banking facility with your bank account opened under the PMJDY scheme. You can transfer can check and transfer balance by using a normal cell phone.

  25. What is death benefit eligibility under PMJDY?
  26. The death benefit eligibility is applicable to nominee chosen by the account holder. The select nominee would receive a death benefit of Rs. 30,000 in case something unexpected happens to the life assured.

  27. Is a minor eligible to open a bank account under PMJDY?
  28. Yes, a minor is also eligible to open a bank account under PMJDY under the guidance of seniors.

  29. What is the minimum age required for minors to be eligible for a bank account under PMJDY?
  30. The minimum age of a minor should be 10 years.

  31. Are minors eligible to receive RuPay Cards offered under PMJDY Bank accounts?
  32. Yes, minors are also eligible to get RuPay Cards. They can use the card 4 times in a month for cash withdrawal.

  33. What are the documents required for opening a bank account under PMJDY?
  34. Any of the following documents is required for opening a bank account under PMJDY:

  35. What if I don’t’ have a valid residential proof? Will I be able to open a bank account under PMJDY?
  36. Yes. You can still open a bank account. What you have to do is to provide an identity proof issued by the government of India.

  37. Can a RuPay Card be availed by illiterate account holders?
  38. Yes. It can be availed by illiterate account holders as well. RuPay Card is a kind of debit card issued for the purpose of ATM withdrawal and making PoS payments. The concerned bank officials will educated the illiterate RuPay Card holders as to how to use this card and keep it safe at the time of card issuance.

  39. Will I get a cheque book against my bank account?
  40. Usually, the accounts opened under PMJDY are Zero balance accounts. If an account-holder wishes to get cheque book, he/she will have to fulfill the minimum balance criteria required by a bank.

  41. How much interest do I receive on my savings account opened under PMJDY?
  42. Normally, the applicable rate of interest is 4%. However, it is subject to change.

  43. What is the applicable rates of interest on overdraft or loan under the PMJDY scheme?
  44. The applicable rate of interest is 12%. It is usually counted as base rate +2% or 12 %, whichever is lower.

  45. Do banks charge account opening fees for opening an account under PMJDY?
  46. No. As per rules banks cannot charge any account opening fees. These accounts are completely free from any charges.

  47. Is the bank account opened under PMJDY transferrable? What if I want to transfer my account to one city to another or one state to other?
  48. Yes, you can easily transfer your PMJDY account from one city/state to another as all banks offering bank accounts have core banking solutions. You can do this by simply requesting the bank.

  49. What is Bank Mitr?
  50. Bank Mitr refers to the business correspondents agents who provide banking services at select locations. The Bank Mitr represents the bank and helps it expand its outreach. It offers banking services at low cost at areas where establishing a brick and mortar branch is not feasible. Retired Bank Employees, Retired Teachers, Retired Government Employees and Ex-Servicemen can join as a Bank Mitr.

  51. What is the minimum balance do I need to put in my bank account?
  52. The accounts opened under the PMJDY scheme are zero balance accounts. You don’t have to put any minimum balance in your account.

  53. What is a PoS machine?
  54. It is a small device installed at business centers to help you enjoy cashless purchases. PoS stands for point of sale.

  55. What if I don’t use my RuPay Debit Card for 1 month?
  56. Your RuPay Debit Card will remain operative even if you don’t use it for one. But, if you don’t use it for 45 days, it will stop being operative. You need to use this card at least one time in 45 days.

  57. I am an existing customer of a particular bank and I want to open another bank account under PMJDY, am I eligible?
  58. It depends on banks. Some banks may allow you to open a one while others may not. So, it is advisable you persuade one of your family members who don’t have a bank account to reap this benefit offered by PMJDY.

  59. If I am an income tax payer, will I be to enjoy the benefits of life insurance cover offered by the PMJDY scheme.
  60. No, income taxpayers and their dependents are not allowed to enjoy life insurance cover offered by PMJDY Bank accounts.

  61. What is the exit age determined by this scheme?
  62. The exit age determined by this scheme is 60 years. The moment you turn 60 years, you need to quit the scheme.

  63. Do I need to pay service tax if I am a banking correspondent?
  64. No. You don’t have to service tax if you are a banking correspondent under PMJDY. This is a new inclusion made by the PMJDY scheme.

  65. What is the minimum age required for opening a BSBDA account.
  66. The minimum age required for opening a BSBDA account is 10 years.

  67. Can I renew my debit card offered by my PMJDY Bank Account?
  68. Yes, you renew your debit card once its validity is over. The expiry date of your debit card will be written on your card only. So, check your date and opt for a new card before the expiry date is over.

  69. Is it possible to open a bank account under PMJDY, if I don’t have an Aadhaar Card?
  70. Yes, you can open an account without an Aadhaar Card. But, you need apply for an Aadhaar Card and submit it your bank in the future. In the absence of Aadhaar Card, you submit any one of the following documents -Voter ID Card, Driving License, PAN Card, Passport or NREGA Card.

  71. What if I don't have any documents? How will I open an account then?
  72. You can still open a bank account under the PMJDY scheme and continue it for 12 months. This account is called Small Account. After completion of 12 months, you need to submit required documents to continue the account.

  73. Can I change my address in the bank account?
  74. Yes. You can change your address by proving a self-declaration certificate or submitting supporting documents.

News About Pradhan Mantri Jan Dhan Yojana

  • Only 30% of Jan Dhan account holders received money according to survey

    According to a study conducted by a group of researchers, 64% of households who earn less than Rs.10,000 per month do not hold a Jan Dhan account. The survey consisted of 3,000 households in the same category and the researchers from the Centre of Sustainable Development from the Azim Premji University have pointed out that accounts under the Pradhan Mantri Jan Dhan Yojana have not been opened for 64% of the beneficiaries.

    Among the total number of people who hold a Jan Dhan account, only 30% of them have received amount transfers to their account. The survey was conducted in collaboration with various civil society organisations in the country and a detailed phone survey was conducted of 4,000 workers from the unorganised sectors.

    18 May 2020

  • Banks directed by the IBA to deposit Rs.500 in women Jan Dhan accounts from 3 April

    On 2 April 2020, the Indian Banks’ Association (IBA) instructed banks to start remitting Rs.500 every month in the accounts under the Pradhan Mantri Jan Dhan Yojana (PMJDY) scheme that are held by women.

    According to a statement made by IBA, the money will be deposited between 3 April and 9 April under the Pradhan Mantri Garib Kalyan Yojana scheme that was recently announced by the government. In order to ensure social distancing, the money will be deposited in a staggered fashion. The money will be transferred to the beneficiary’s account for the next three months. Recently, Finance Minister Nirmala Sitharaman announced several measures to help the economy during the coronavirus outbreak. A schedule that the banks must follow to transfer the money has also been chartered by the IBA so that the money is withdrawn in an orderly fashion. The money will be disbursed based on the last digit of the account number. Depending on the number, the amount will be deposited between April 3, April 4, April 7, April 8, and April 9. The statement by the IBA further added the beneficiaries need not rush to withdraw the money.

    07 April 2020

  • Central Schemes in Meghalaya to Transform Lives, says State Defence Minister

    Addressing a gathering when inaugurating Mudra Promotion Campaign, State for Defence Union Minister Subhash Ramrao Bhamre urged people of Meghalaya to take advantage of Central government programmes and schemes, such as Stand Up India and Jan Dhan Yojana to bring a huge transformation in the lives of Meghalaya youths.

    The minister said around 9 crore loans amounting to Rs.4 lakh crore have been sanctioned since the launch of the Pradhan Mantri Mudra Yojana. Almost 6.89 crore or 76% of these loans have been sanctioned to women entrepreneurs, and almost 55% to SCs/STs. These entrepreneurs have, in turn, created job opportunities for others.

    The minister said that ‘Stand Up India’ is an important scheme, aimed to encourage entrepreneurship by giving loans ranging from Rs.10 lakh to Rs.1 crore.

    Under the scheme, 40,769 beneficiaries have availed Rs.8757 crore as loans. Of these, 5827 entrepreneurs in SC category and 1747 entrepreneurs in ST categories have received loans to the tune of Rs.1091 crore and Rs.346 crore respectively. 33,142 women also secured loans.

    Highlighting schemes for social security, the minister said its 3 components – PM Suraksha Bima Yojana, PM Jeevan Jyoti Bima Yojana, and Atal Pension Scheme, have 11 crore, 3.5 crore and 67 lakh people enrolled respectively, to receive benefits.

    10 October 2017

  • Income Tax Department Will Verify Cash Deposits Made in Jan Dhan Accounts

    Pradhan Mantri Jan Dhan Yojana (PMJDY) is a scheme introduced by the Prime Minister of India, Narendra Modi to help common people, mostly those below the poverty line open savings account and enter the main banking stream. About 25 crore savings account was opened under this scheme since August, 2014. After the Government of India cancelled Rs.50o and Rs.1,000 as legal tender and announced demonetization, many people who possess black money are abusing the Jan Dhan Accounts to deposit cash. To fight against black money and to avoid people abusing the Jan Dhan Accounts, The Income Tax Department will check all Jan Dhan Accounts with more than Rs.50,000 cash deposits. PMJDY website clearly states that almost one fourth of accounts opened under the PMJDY Scheme was zero balance till November 2 but after the announcement of demonetization, cash deposits in these accounts have increased as many are trying to park their unaccounted money in these accounts.

    5 December 2016

  • Jan Dhan Yojna: Maharashtra with a total of 1.56 crore accounts

    With demonetization affecting each and every domain of financial transaction, it is essential to have a look at the Jan Dhan Yojna trends. According to reports, Maharashtra has a total of 1.56 crore Jan Dhan Yojna (JDY) bank accounts opened till 9 November 2016. Jan Dhan Yojna website reports the numbers as 78 lakh and 78.5 lakh for urban and rural accounts respectively. Uttar Pradesh and Bihar are the states with the highest number of Jan Dhan Yojna accounts. Of all the JDY accounts opened till date, only 79.19% accounts are linked to RuPay debit card on a national level. But compared to Uttar Pradesh and Bihar, Maharashtra has better percentage figures in terms of RuPay debit card linkage. Chandigarh is the only UT that has a more than 90% JDY accounts linked to RuPay debit cards. It is followed by the states Punjab and Karnataka with a success rate of 89% each.

    28 November 2016

  • Deposits under Pradhan Mantri Jan Dhan Yojana see spurt

    The Pradhan Mantri Jan Dhan Yojana (PMJDY), a brainchild of PM Narendra Modi has seen a huge spurt in the last two years, with the average deposit going up by 118%. Launched in 2014, the programme aims to achieve financial inclusion, offering a number of benefits to individuals. While the average deposit in September 2014 stood at Rs. 795, this has now gone up to Rs. 1,735 as of May 2016, a jump of 118%. The overall funds under the scheme saw a remarkable increase, with a four-fold growth from 53 million in September 2014 to 219 million in May 2016. These numbers indicate the eagerness of Indians to open accounts and become part of the financial system, with the linking of MGNREGA and LPG aiding subscribers immensely.

    Deposits under the scheme stood at Rs. 34,048 crores as of May 2016, up from Rs. 4,273 crores in September 2014. In addition to the deposits, the number of zero-balance accounts also came down to 25.7%, a fall from 76% in 2014. The scheme, which has been immensely popular since its launch, also created a record when over 18 million bank accounts were opened in a span of 7 days in 2014.

    8 July 2016

  • Pradhan Mantri Jan Dhan Yojana (PMJDY) Gains Momentum

    Pradhan Mantri Jan Dhan Yojana (PMJDY) has gained momentum in Maharashtra. This financial inclusion programme launched by the government has witnesses a rise in deposit in recent times. Currently, the deposits available in these accounts are worth up to Rs. 36,000 Crore. The Union Minister, Mr. Chaudhary Birender Singh, mentioned the same during a press conference in Aurangabad. The Speaker of the Maharashtra Legislative Assembly, Mr. Haribhau Bagde, was also present during the meeting.

    14 June 2016

  • Around 26,000 PMJDY accounts in Goa have zero-balance

    Around 14% of the bank accounts opened in Goa under the PMJDY scheme have no money in them according to reports.

    The PMJDY scheme has reported that a total of around Rs.51.6 crore have been deposited in accounts opened in the state of Goa, but many of the bank accounts still report zero-balance (i.e. there were never any transactions in those accounts, and the account balance has always been Rs.0).

    Experts suggest that the probable reason that there are so many zero balance accounts is that almost every Goan has at least 2 bank accounts. This is the reason that Goa is known as an “overbanked” zone. There are 14 lakh people in Goa, but around 23 lakh bank accounts.

    On the national level, around 26% of all PMJDY accounts opened are still running with Rs.0 balance.

    9 June 2016

  • Pradhan Mantri Jan Dhan Yojana deposits amount to over Rs 1,400 crore in Gujarat.

    Pradhan Mantri Jan Dhan Yojana deposit accounts in Gujarat currently amount to a whopping Rs. 1404 crores. Additionally, the number of accounts with zero balance has reduced to 2.5% from 24%, the previous year. Banks in Gujarat have been able to open 78.33 lakh deposit accounts under the Pradhan Mantri Jan Dhan Yojana, since its launch in August 2014. Gujarat has been able to get 100% coverage, including 1.22 crore households in December 2014. The drop in zero balance accounts has been attributed to the fact that subscribers have become more familiar with banking services.

    6 June 2016

  • Central Government saves Rs.36,000 Crores by cutting out Bogus Beneficiaries

    After linking the Aadhaar cards to the customer’s bank accounts, the Central Government has saved Rs.36,000 crores. Linking Aadhaar Card helped in stopping the leakages in central government welfare programs which would have otherwise led to heavy loss. The amount of Rs.36,000 crore which was saved, will be used for the development of states. It is also Pradhan Mantri Jan Dhan Yojana, over 22 crore accounts have been created and over Rs.37, 000 crores have been deposited in PMJDY bank accounts.

    2 June 2016

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