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PMJDY Update: Know How Much Interest You Can Earn in Your Jan-Dhan Account!

According to the Pradhan Mantri Jan Dhan Yojana (PMJDY)website, 46.25 crore beneficiaries have banked Rs 173,954 crore balance so far in their beneficiary accounts with 6.55 lakh Bank Mitras delivering branchless banking services in the country. Read more to know how much interest savings will you earn in the PMJDY account.

Binita Kumari
In PMJDY accounts, there is no requirement to maintain a minimum balance.
In PMJDY accounts, there is no requirement to maintain a minimum balance.

PMJDY latest news: In contrast to the earlier strategy, which concentrated on covering villages, PMJDY focuses on coverage of "every adult." It concentrates on covering both urban and rural areas. In contrast to the prior goal of covering "every home," PMJDY calls for providing banking services to "every adult" in the country.

There is no age restriction while opening a PMJDY account at a branch. The age requirement to write for the BC (Business Correspondents) channel is 10 years of age or older. Any bank branch or CSP (Customer Service Point) outlet can be used to open an account. In the Pradhan Mantri Jan-Dhan Yojna, there is NO minimum account balance.

What are the benefits of PMJDY?

  1. The following list of direct and unique benefits offered by PMJDY are a few examples:

  2. For those without bank accounts, one simple savings account is opened.

  3. In PMJDY accounts, there is no requirement to maintain a minimum balance.

  4. In PMJDY accounts, interest is earned on deposits.

  5. PMJDY account holders receive Rupay Debit cards.

  6. RuPay cards given to PMJDY account holders come with an accident insurance cover of Rs. 1 lakh (increased to Rs. 2 lakh for new PMJDY accounts opened after 28.8.2018).

  1. To qualifying account holders, an overdraft (OD) facility up to Rs. 10,000 is provided.

  2. The Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), Atal Pension Yojana (APY), and Micro Units Development & Refinance Agency Bank (MUDRA) schemes are all available to PMJDY accounts.

  3. You can benefit from interest on deposits.

  4. You can purchase accidental insurance for one million rupees (Rs 2.00 lac for new PMJDY accounts opened after 28.08.2018)

  5. There is no necessary minimum balance.

  6. It allows for simple money transfers within India. Direct benefit transfers will be made to government programme beneficiaries in these programs.

  7. An overdraft facility will be allowed, subject to eligibility requirements when the account has been operating satisfactorily for six months.

  8. You have access to insurance and pension options.

How much interest you can earn in the PMJDY account?

Accounts opened under the PMJDY Scheme are eligible for the interest rate that is applicable for Saving Bank Accounts.

According to the Pradhan Mantri Jan Dhan Yojana (PMJDY) website, 46.25 crore beneficiaries have banked Rs 173,954 crore balance so far in their beneficiary accounts with 6.55 lakh Bank Mitras delivering branchless banking services in the country.

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