The government’s flagship programme PM Jan Dhan Yojana was started in 2014 after Narendra Modi’s government took office. The scheme has several benefits including the government’s target of opening accounts for all.
Many people are going to banks for opening the Jan Dhan account with zero balance because they hope that like last year, this time also the central government may credit Rs 500 in these accounts as a relief.
If you are not yet connected with the Jan Dhan account (Pradhan Mantri Jan Dhan Yojana) or you already have a normal savings account in the bank, then you can get it converted into Jan Dhan account. The process is very easy.
In order to apply for PMJDY, you just have to fill a form online. You must be an Indian citizen in order to open the account under this scheme. Minors above 10 years of age are also eligible to open a bank account under this scheme.
Convert savings account into Jan Dhan account-
According to bank rules, customers can convert their Savings account into a Jan Dhan account. For this, customers have to visit their respective banks and put up a written application to the bank for issuing RuPay card against their existing savings bank account.
After submission of this form, once RuPay debit card is issued, savings account will automatically get converted into the Jan Dhan Khata.
Benefits of Jan Dhan account:
1. This account does not have a requirement of maintaining a minimum balance. You will be required to maintain a minimum balance only if you avail the cheque book facility.
2. The Jan Dhan account holder gets interest on the amount deposited in the bank.
3. The account holder gets a mobile banking facility free of cost.
4. Along with this account, the account holder is covered for an accident cover of Rs 2 lakh.
5. The Jan Dhan account holder can avail an overdraft facility of Rs 10000 which means that even if there is no money in the account, you will still get Rs 10000. But this facility is given to the account holder only after a few months of the opening of the account.
6. You can also do an insurance cover of Rs 30000. On the death of an account holder, the nominee gets the insured amount.
Documents needed to open new account-
To open a new Jan Dhan account, you have to go to the bank and fill a prescribed form. In this, you will have to fill in information about account holder name, address, mobile number, bank branch name, business/employment, number of dependents, annual income, nominee, village code or town code etc. With this form, you may need aadhaar card, PAN card, passport, MNREGA job card, driving license, voter ID card.