Insurance Benefits
The account holders under Jan Dhan Yojana gets an accidental insurance cover of Rs 1 lakh & a life cover of Rs 30,000. The payment will be given on the death of the beneficiary.
Loan Benefits
Jan Dhan Yojana account holders can also avail an overdraft facility of up to Rs 5,000. This facility is available against one account per family. The amount of loan may look small but it is definitely a boon to those below poverty line in India.
Mobile Banking Facility
Enabling carrying out transactions via mobile phone facilitates the account holders in checking balance and transferring funds easily across India.
Other benefits:
- Account holders will be eligible for interest on their deposits
- They are not authorized to have a minimum balance in account
- PMJDY allows Direct Benefit Transfer (DBT) for beneficiaries of Govt. schemes
- Account-holders also get easy access to pension as well as other insurance products with this scheme.