New Delhi. Account holders of Pradhan Mantri Jan-Dhan Yojana (PMJDY) are eligible for several financial benefits along with universal access to banking services.
The benefits include –having one basic savings bank account for unbanked person; no requirement to maintain any minimum balance; earning interest on the deposit in PMJDY accounts; and getting access to Rupay Debit card is provided to PMJDY account holder.
Among a prominent financial benefit is free Accident Insurance Cover. PM Jan Dhan Yojana Bank Account holders are eligible for getting Rs 1 lakh (enhanced to Rs 2 lakh to new PMJDY accounts opened after 28.8.2018) as Accident Insurance Cover, available with RuPay card issued to the PMJDY account holders. General Insurance Cover of Rs 30,000. They are also eligible for an overdraft (OD) facility up to Rs 10,000.
PMJDY accounts are eligible for Direct Benefit Transfer (DBT), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), Atal Pension Yojana (APY), Micro Units Development & Refinance Agency Bank (MUDRA) scheme.
However, it is to be noted that the benefits upto Rs 1.3 lakh can be availed only if the account is linked with Aadhaar card. The government has made it mandatory to link the Pradhan Mantri Jan Dhan Yojana bank account to your Aadhaar card under the Prevention of Money Laundering Act.
How to link Aadhaar with PM Jan Dhan Yojana Bank Account?
There are four ways using which you can link your Aadhaar with PM Jan Dhan Yojana Bank Account –by going to the bank physically, by using SMS facility and by going to your ATM.
Important Documents required for linking Aadhaar with Pradhan Mantri Jan Dhan Yojana Bank Account
– Aadhaar number
– ATM Card
– Aadhaar registered mobile number to receive the OTP and send SMS
– Bank passbook
The PMJDY was announced by Prime Minister Narendra Modi in his Independence Day address on August 15, 2014, and was simultaneously launched on August 28, 2014, to foster financial inclusion.
This national mission was launched to ensure people have access to financial services, namely, banking, remittance, credit, insurance, pension in an affordable manner.