Jan Dhan Account: Zero Balance Account, Overdraft, Insurance And All Other Benefits

Benefits of Opening Jan Dhan Account:  Pradhan Mantri Jan Dhan Yojana, is a central government scheme that allows citizens to open bank accounts without any deposit. Citizens can open a bank account with zero balance.

To open an account under Pradhan Mantri Jan-Dhan Yojana i.e. PMJDY, one will have to go to the bank or contact Bank Mitra or an authorized institution. You have to fill out an account opening form and will have to provide all the documents that are asked for.

Benefits in Jan Dhan Account

Accident insurance cover of Rs 1 lakh

No minimum balance required

Under Pradhan Mantri Jan-Dhan Yojana, the customer gets life insurance of Rs 30000.

Beneficiaries of government schemes will get benefits directly in these accounts

An overdraft facility will be provided after the satisfactory operation of Jandhan accounts for 6 months.

An overdraft facility of up to Rs 5,000 is available in one account per family, especially for the woman in the family.

Mobile Banking, Net Banking and all other services are free.

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Overdraft Facility

Even if there is no balance in the account opened under Jan Dhan Yojana, you get the facility of overdraft up to Rs 10,000. Overdraft is like a short-term loan. Earlier, the limit of overdraft was Rs 5,000, which has been increased to Rs 10,000.

For the overdraft facility from the Jan Dhan account, the maximum age limit of the account holder should be 65 years. Additionally, to avail of the overdraft facility, the Jan Dhan account should be at least 6 months old.

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