Samavesh Se Samriddhi

  • Benefits
  • Features
  • Documents Required
  • Most Important Terms and Conditions (MITC)

Pradhan Mantri Jan Dhan Yojana : Benefits

Pradhan Mantri Jan Dhan Yojana : Features

  • BSBD account holder should not be maintaining any other savings bank account with any bank/branch to ensure compliance with RBI directives
  • Accidental insurance cover of Rs. 1 Lakh under Rupay Scheme and for accounts opened after 28/08/2018 accidental Insurance Cover is of Rs. 2 lakhs
  • The scheme provide life cover of Rs. 30,000 payable on death of the beneficiary, subject to fulfilment of the eligibility condition i.e. accounts opened between 15/08/2014 - 31/01/2015
  • 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
  • The claim under personal accidental insurance under PMJDY shall be payable if the Rupay card holder have performed minimum one successful financial or non-financial transaction at any of bank's Channel both Intra and Inter - bank i.e. on-us (ATM/ Micro-ATM/ POS/ Business Correspondent of the bank at locations by any payment instrument) within 90 days prior to date of accident including accident date of RuPay PMJDY Cardholders or off us (same bank channels - Bank Customer /RuPay cardholder transactions at other bank channels).
  • Overdraft facility up to Rs. 10,000 is available in only one account per household, preferably lady of the household subject to eligibility and overdraft for Rs. 2000 is hassle-free

Pradhan Mantri Jan Dhan Yojana : Documents Required

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

  • If Aadhaar Card/Aadhaar Number is available, then no other documents is required. If address has changed, then a self-certification of current address is sufficient.
  • If Aadhaar Card is not available, then any one of the following officially valid documents (OVD) is required: 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.

Pradhan Mantri Jan Dhan Yojana : Most Important Terms and Conditions (MITC)

  • BSBD account, which is operated satisfactorily for at least six months.
  • OD to be granted to the earning individual of the family subject to only one member from a family can be granted limit.
  • There should be regular credits under DBT/DBTL scheme/other verified sources.
  • BSBD account holder should not be maintaining any other savings bank account with any bank/branch to ensure compliance with RBI directives
  • Age of applicant between 18 years to 65 years.
  • Minor i.e. customer below the age of 18 years are not eligible for OD under PMJDY.
  • KCC/GCC borrower is not eligible for PMJDY OD.
  • Minimum OD amount Rs, 2,000/- without any assessment subject to fulfilling the above eligibility criteria For amount beyond Rs.2000/-, eligible amount for overdraft is 4 times of average balance of preceding six months or 50% of credit summation in the preceding six months or Rs. 10,000 whichever is lower.

Dedicated Toll free no. for Pradhan Mantri Jan Dhan Yojana (PMJDY) customers and other Financial Inclusion scheme: 18001027788

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Frequently Asked Questions (FAQs)

  • What is PMJDY?

    Pradhan Mantri Jan Dhan Yojana (PMDJY) is a national savings scheme launched to ensure access to financial services, including a saving account, remittance, credit, insurance, and pension.

  • What is the maximum amount under PMJDY?

    Individuals can open the Bank of Baroda PMJDY account with no upper limit.

  • Who is eligible for a PMJDY account?

    All citizens of Indian nationality are eligible.

  • What is the main benefit of the Jan Dhan account?

    The main benefit – is financial freedom for all under the scheme. 
      
     Some of the salient features are:

    • Minimum balance not required
    • Interest earned every month
    • Free ATM or RuPay debit card is issued
    • Accident Insurance Cover of Rs.1 lakh (enhanced to Rs. 2 lakhs to new PMJDY accounts opened after 28.8.2018)
    • An overdraft (OD) facility of up to Rs. 10,000 to eligible account holders

    No restriction on the number or amount of deposits

  • Can I open a PMJDY account online?

    No. A PMJDY account needs to be opened at the Bank of Baroda branch.

  • How to open a Jan Dhan account online?

    No. This service is not available while opening the Bank of Baroda Jan Dhan Account.

  • What is the scheme of PMJDY?

    PMJDY scheme allows an Indian national to open a basic savings account with the intention to gain financial freedom with hassle-free banking.

  • How can I check my PMJDY account?

    Bank of Baroda Jan Dhan Account holders is eligible for mobile banking, internet banking, debit card, and passbook. You can check your balance from any of these channels.

  • Can I open a joint account under Pradhan Mantri Jan Dhan Yojana?

    Yes, you can proceed to open one, but must necessarily be done at your nearest branch.

  • Can I link my link mobile number with my bank account opened under PMJDY?

    Yes. Go ahead and visit any Bank of Baroda branch.

  • What is a small account/chota khata account under PMJDY?

    A small or chota khata account is precisely for individuals with no officially valid documents (OVDs). This account has the following features:

    1. A maximum of Rs.50,000 as the upper limit
    2. Annual turnover should not exceed Rs. 1,00,000
    3. Monthly cash withdrawal should not go beyond Rs. 10,000

    Apply here for the Bank of Baroda Jan Dhan account with simplified forms. 

  • Is an overdraft/loan facility available under PMJDY?

    An overdraft up to Rs.10,000 is allowed subject to other conditions.

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