PMJDY - Pradhan Mantri Jan Dhan Yojana

Pradhan Mantri Jan-Dhan Yojana is a government scheme launched by the government of India to provide easy access to financial services such as Remittance, Credit, Insurance, Pension, Savings and Deposit Accounts to poor and needy section of our society.

PMJDY Information

Interest Rate Based on the saving’s account interest rate offered by the bank
Minimum Balance Zero balance account
Accidental Insurance Cover Under Rupay Scheme, Rs.1 lakh. Accounts opened after 28 August 2018, Rs.2 lakh
Overdraft Facility Provided

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
  • As per bank’s saving’s account interest rate
  • Transfer of money is simple
  • Overdraft facility available

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 Withdrawal & PMJDY Form

How to open a Jan Dhan Yojana Account?

To open a Jan Dhan Yojana Account, you need to get the application form, that is available in both English and Hindi and is available on the official website of PMJDY ( Fill it up and submit it along with the necessary documents. The application form is called the financial inclusion account opening form. It consists of three sections where in you need to provide details of yourself, nominee and the bank where the account is being opened.

PMJDY Eligibility

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

  • You must be citizen of India
  • You should be at least 10 years of age
  • You should not have a bank account
Pradhan Mantri Jan Dhan Yojana
Pradhan Mantri Jan Dhan Yojana

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
  • Aadhaar
  • The National Rural Employment Guarantee Act (NREGA) issued job card.
  • Driving licence
  • Voter ID
  • Identity card with photo which has been issued by the central or state government departments, public sector undertakings, scheduled commercial banks, public financial institutions and statutory or regulatory authorities.
  • A photograph which has been attested along with a letter from a Gazetted officer must be submitted.

Rate of interest under PMJDY

Based on the savings account interest rate offered by the bank.

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.
  • ING Vysya 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

  • 41.94 crore PMJDY Accounts Opened

    The Union Minister of State for Finance & Corporate Affairs, Anurag Singh Thakur had said that 41.94 crore accounts have been opened so far under Pradhan Mantri Jan Dhan Yojana. The Minister had also said that the Centre had announced Rs.1.70 lakh crore ‘Pradhan Mantri Garib Kalyan Yojana’ relief package for fighting the economic impact of Coronavirus.

    18 Mar 2021

  • More than 41 crore bank accounts have been opened under Pradhan Mantri Jan Dhan Yojana

    Under the Pradhan Mantri Jan Dhan Yojana (PMJDY) scheme, 41.75 crore bank accounts have been opened. There are 35.96 crore operational accounts in total. This data is from Public Sector Banks PSBs, Regional Rural Banks (RRBs), and Private Sector Banks (PSBs). It is effective as of 27 2021. Under this scheme, a bank account can be opened with any branch of any bank or with a Business Correspondent (BC) of banks as listed above. There are 40.48 crore accounts opened under the PSBs and RRBs and 1.27 crore accounts opened under PSBs.

    16 Feb 2021

  • Jan Dhan accounts increased by 60% during the coronavirus pandemic

    There was an increase of 60% in the number of new Jan Dhan accounts that were opened since 1 April 2020, during the coronavirus pandemic. This was probably driven by the fear of rising infections which led to increased use of digital payments through bank accounts. There were 3 crore new Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts with Rs.11,060 crore being the composite rise in the value of deposits. For the same period last year, the number of new accounts opened was 1.9 crores and the increase in the deposit amount was Rs 7,857 crore. Under the Atmanirbhar package, accounts of PMJDY belonging to women were credited with Rs.500 per month. The average balance in the PMJDY accounts rose to Rs.3,400 in April 2020. By September 2020, it declined to Rs.3,168. In October, the average balance rose to Rs.3,185. As of 14 October 2020, the total number of PMJDY accounts was 41.05 crores. The total balance was Rs.1,30,741 on that date.

    28 Oct 2020

  • Women have over 50% accounts in Pradhan Mantri Jan-Dhan Yojana

    Over half of the bank accounts under the scheme, Pradhan Mantri Jan-Dhan Yojana (PMJDY) belong to women. One should note that there is no gender-wise data regarding the amount of money held by all the women and men.

    The total number of accounts in September 2020, had been 40.63 crore. Of this number, 22.44 crore accounts belonged to women. Men held 18.19 crore accounts.

    22 Oct 2020

  • 40 crore bank accounts added under PM Jan Dhan Yojana in 6 years

    Under the Pradhan Mantri Jan Dhan Yojana aimed at making bank accounts available for all Indian citizens has added 40 crore accounts in the last 6 years. The Department of Financial Services has stated that this milestone has been achieved under the world’s largest financial inclusion initiative.

    The PM Jan Dhan Yojana has provided infrastructure support to the government in making schemes meaningful which are related to Direct Benefit Transfers. The bank accounts opened under the financial inclusion scheme have around Rs.1.3 lakh crore as deposits and was launched in 2014.

    The account holders under the PM Jan Dhan Yojana also were ensured four social security schemes which are the Pradhan Mantri Suraksha Bima Yojana, the Pradhan Mantri Jeevan Jyoti Yojana, Atal Pension Yojana and the Pradhan Mantri Mudra Yojana.

    03 Aug 2020

  • 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.

    27 Jul 2020

  • 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.

    23 Jun 2020

  • 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.

    03 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.

    02 Apr 2020

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