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PMJDY – Pradhan Mantri Jan Dhan Yojana Features & Eligibility

Written by - Akshatha Sajumon

December 20, 2021 5 minutes

The Government of India has introduced various saving schemes to benefit citizens. These schemes are designed with a common objective of supporting people from all walks of life. One noteworthy scheme is the Pradhan Mantri Jan Dhan Yojana, that was launched by the Prime Minister of India in 2014.

What is Pradhan Mantri Jan Dhan Yojana(PMJDY)?

PMJDY is slated to being one of the “largest financially inclusive initiatives in the world” since it adopts a non-discriminatory approach to making financial services available for every household of India. The scheme offers financial services through provisions like:

  1. Bank savings accounts, 
  2. Credit, 
  3. Remittance, 
  4. Insurance, 
  5. Pension, etc.

Any bank branch in the country can open this account with zero balance needed. Account holders who prefer the cheque book facility must maintain a minimum balance in the account as per the terms of the plan.

What are the features of PMJDY?

Some of the noteworthy features of PMJDY are:

  • Regulated across urban and rural households in India, this yojana offers to open more than 15 crore bank accounts for the poor
  • The accounts under this facility will provide an overdraft facility of Rs. 5,000/-. The conditions for the same are:
    • Account must be Aadhaar linked 
    • Account must operational for a minimum of 6 continuous months
  • The scheme offers Rupay Debit card to the account holder along with a personal accidental insurance cover of up to Rs. 1 lakh
  • Account holders also receive life cover of up to Rs.30,000/- from LIC
  • Business correspondents can receive up to Rs.5,000/- as a credit towards minimum monthly remuneration

Eligibility criteria for PMJDY

Stated below are the eligibility criteria to be met by an individual for opening an account under this scheme:

  • Applicant should be an Indian citizen
  • Minimum age requirement is 10 years
  • Individuals holding a savings account can open a Jan Dhan account by transferring the existing account to the Jan Dhan account
  • Individuals paying income tax and their families cannot avail this scheme
  • Employees of central or state governments cannot avail this scheme 
  • Those registered for the Aam Aadmi Bima Yojana cannot avail this scheme unless they give up the latter

What are the documents required for opening an account in PMJDY?

Mentioned below are the documents required to open an account under PMJDY:

  • PMJDY Account opening form – filled and signed by applicant
  • Address proof – applicant can submit Aadhaar card or passport
  • Identity proof – applicant must submit 2 passport sized photographs along with a driving license or voter’s ID. 

How to open an account in PMJDY scheme?

Here are the steps to be followed for successfully opening a savings account under PMJDY scheme:

  • Fill the application form with all necessary details, including KYC details
  • Attach required documents with the application form. Ensure to sign and self-attest all the documents.
  • These need to be submitted at the respective bank with which you want to open the account
  • Furnish the documents to the Jan Dhan Mitr nominated by the bank for enrolling applicants
  • Upon submission and approval, the account will be operational within a few days

Which banks offer PMJDY account?

Many public and private sector banks offer PMJDY account opening facilities. Listed here are the banks that provide this facility:

Private sector banks

  • Axis Bank
  • Karnataka Ltd. Bank
  • Yes Bank
  • Federal Bank Ltd.
  • IndusInd Bank Ltd.
  • HDFC Bank
  • ICICI Bank
  • Kotak Mahindra Bank Ltd.

Public Sector Banks

  • Bank of India (BOI)
  • Punjab & Sind Bank (PSB)
  • Punjab National Bank (PNB)
  • Union Bank of India
  • Central Bank of India (CBI)
  • Indian Bank
  • Dena Bank
  • Canara Bank
  • Bank of Maharashtra (BOM)
  • State Bank of India (SBI)
  • Bank of Baroda (BOB)
  • Vijaya Bank
  • Indian Overseas Bank (IOB)
  • IDBI Bank

Benefits of having a PMJDY account

Some of the benefits offered by PMJDY scheme are:

  • Direct Benefit Transfer for account holders
  • Account holders under this scheme can avail enjoy annual interest on deposit at 4%
  • Accidental Insurance cover of up to Rs. 2 lakhs
  • Life cover of Rs. 30,000 if eligibility criteria are met. This amount is paid in case of death of the account holder
  • Easy money transfer across India
  • Overdraft facility after 6 months of active operation
  • Seamless access to financial facilities like pension and insurance
  • Overdraft facility of maximum Rs. 10,000 can be availed for 1 1 individual per household (preferably a woman)
  • Personal accidental insurance claim is payable if the account holder holds a Rupay Card. It must have had at least one successful transaction at any ATM, bank branch, bank Mitra, POS, e-commerce, etc.
  • No minimum balance to be maintained


Pradhan Mantri Jan Dhan Yojana holds an entry in the Guinness book of world records for the maximum number of bank accounts opened within a week’s time. With large-scale account openings in the country, it has gained immense success since its launch. The government continues to promote this scheme to ensure more individuals in rural and urban areas can avail direct benefits through the account.


Who can open a Jan Dhan Account?

An Indian citizen above the age of 10 years and not an Income Tax payee can open a Jan Dhan account. He/she should not have an Aam Aadmi Bima Yojana account while opening a Jan Dhan account.

Where can I open the PMJDY account?

PMJDY savings account can be opened through any bank across the country that offers the scheme.

What is a small account under Pradhan Mantri Jan Dhan Yojana?

PMJDY offers a small account or Chota Khata bank account that can be opened for a period of 12 months.

Can I seek extension of loan amount taken against PMJDY scheme?

Yes, you can seek extension of loan amount under PMJDY if the repayments have been made on time.

What is the maximum withdrawal limit in PMJDY?

The maximum withdrawal limit per month is Rs.10,000/- in PMJDY.

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