PM Jan Dhan Yojana was launched by the Modi government to bring every person into the banking fold. But, even today people are not clear about the facilities provided by the Jan Dhan account. People are still making the mistake of considering these Jan Dhan accounts as Savings Account. Here we will provide you with all the details of PM Jan Dhan account.
It is to be noted that, the accounts opened under Pradhan Mantri Jan Dhan Yojana are also basic savings bank deposit accounts, but some of these facilities are more than the rest of the savings account. Now, you may be wondering that what is so special about these Jan Dhan accounts. Read below to know more-
Special Insurance & Overdraft Facilities
Along with all the facilities of saving account (facility of no minimum balance, ATM card, withdrawal of money 4 times a month) in Jan Dhan accounts (PMJDY), the account holder also gets an insurance of Rs 30,000 with opening the account. Adding to it, Accidental Death Cover Insurance of Rs 2 lakh and overdraft facility of Rs 5,000 is also given with this account, which is not available in Basic Savings Account.
In other words, even if you have zero money in your account, you can withdraw up to Rs 5,000 through overdraft facility if you have Jan Dhan account. However, for this facility you have to agree to one condition of the bank and that is your Jan Dhan account should also be linked to the Aadhar card.
It is important to keep money for 6 months you can use overdraft facility, but only when your account is at least 6 months old & you have money in the account during these 6 months. Also, you have done transactions from time to time.
The ones who want to open Jan Dhan account don’t need any kind of extra documents. They can open it by taking your basic documents to bank. The PMJDY account is more important at this time as all the facilities provided by the government comes in this account.
