The central government introduces new schemes for its citizens every year, keeping their interests in mind. In 2017, Prime Minister Narendra Modi launched the Jan Dhan Yojana. Under this scheme, bank accounts were provided to millions of people across the country. Zero-balance accounts were opened under this initiative, along with additional benefits. What are the benefits of the Pradhan Mantri Jan Dhan Yojana? Who can apply for it? Let’s find out.
Benefits of Pradhan Mantri Jan Dhan Yojana
The Pradhan Mantri Jan Dhan Yojana, run by the central government, offers more than just zero-balance accounts. This scheme provides several benefits, including:
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- Accident insurance of up to ₹2 lakh.
- Life cover of up to ₹30,000.
- Interest on deposits in the account.
- Overdraft facility of up to ₹10,000.
Pradhan Mantri Jan Dhan Yojana.
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Who Can Open a Jan Dhan Account?
To open an account under the Pradhan Mantri Jan Dhan Yojana, you must be a citizen of India. This scheme is mainly for economically weaker sections.
- Anyone without a bank account can apply.
- No minimum balance is required.
- There is no time limit to open an account.
Over 52.39 Crore Jan Dhan Accounts Opened
Under this scheme, the government allowed people to open bank accounts with zero balances. No specific identification was required for this. According to government data, the number of beneficiaries has now exceeded 52.39 crore.
How is a ‘Jan Dhan Account’ Different from a ‘Savings Account’?
There are key differences between a Jan Dhan Account and a regular savings account. In a Jan Dhan Account, you receive interest on deposits, accident insurance of ₹1 lakh, and life cover of ₹30,000. There is no minimum balance requirement, and account holders get an overdraft facility of ₹10,000. Additionally, beneficiaries receive a RuPay debit card. You can open a Jan Dhan account at both banks and post offices using a PAN card and an Aadhaar card. It can also be opened online.
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This article discusses: PM Jan Dhan Yojana 2025: Who is Eligible? Check New Benefits and Updates