PMJDY Account Benefits, Features And Documents

Pradhan Mantri Jan-Dhan Yojana (PMJDY) is a national mission for financial inclusion to ensure access to financial services, namely, banking/ savings and deposit accounts, remittance, credit, insurance, pension in an affordable manner. Account can be opened in any bank branch or business correspondent (Bank Mitr) outlet. PMJDY accounts are being opened with zero balance

Interest on Deposit
No minimum balance required

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
Free Issuance of Rupay Debit Card.
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

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
Indian Passport
NREGA Card

If the above 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