Pradhan Mantri Jan-Dhan Yojana (PMJDY) is National Mission for Financial Inclusion to
ensure access to financial services, namely, a basic savings & deposit accounts,
remittance, credit, insurance, pension in an affordable manner. Under the scheme, a
basic savings bank deposit (BSBD) account can be opened in any bank branch or
Business Correspondent (Bank Mitra) outlet, by persons not having any other account.
Benefits under PMJDY
a. One basic savings bank account is opened for unbanked person.
b. There is no requirement to maintain any minimum balance in PMJDY accounts.
c. Interest is earned on the deposit in PMJDY accounts.
d. Rupay Debit card is provided to PMJDY account holder.
e. 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.
f. Life Insurance Cover of Rs. 30,000 to eligible PMJDY account holders who opened their
account for the first time between 15.8.2014 to 31.1.2015 is available.
g. An overdraft (OD) facility up to Rs. 10,000 to eligible account holders is available.
h. 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.
