PMJDY Scheme Details and Benefits | Withdrawal 5000 Rupees – When not Available Balance in the ATM Card.
PMJDY is National Mission for Financial Inclusion to confirm access to financial services, namely, Banking/ Savings & Deposit Accounts, Remittance, Credit, Insurance, Pension in an inexpensive manner.
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Account is opened in any bank branch or Business Correspondent (Bank Mitr) outlet. Accounts opened under PMJDY are being opened with Zero balance. However, if the account-holder wishes to induce cheque book, he/she will must fulfill minimum balance criteria.
Document required to open an account –
- the passport,
- the driving license,
- the Permanent Account Number (PAN) Card,
- the Voter’s card issued bye election Commission of India,
- job card issued by NREGA duly signed by a politician of the government,
- the letter issued by the Unique Identification Authority of India containing details of name, address and Aadhaar number,
Special Benefits under PMJDY Scheme-
- Interest on deposit.
- Accidental insurance cover of Rs. 2 lakhs
- No minimum balance required.
- The scheme provide life cover of Rs. 30,000/- payable on death of the beneficiary, subject to fulfillment of the eligibility condition.
- Easy Transfer of cash across India
- Beneficiaries of presidency Schemes will get Direct Benefit Transfer in these accounts.
- After satisfactory operation of the account for six months, an overdraft facility are going to be permitted
- Access to Pension, insurance products.
- 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 customer induced transaction at any Bank Branch, Bank Mitra, ATM, POS, E-COM etc. Channel both Intra and Inter-bank i.e. on-us (Bank Customer/rupay card holder transacting at same Bank channels) and off-us (Bank Customer/Rupay card holder transacting at other Bank Channels) within 90 days before date of accident including accident date are going to be included as eligible transactions under the Rupay Insurance Program 2019-2020.
- Overdraft facility upto Rs. 10,000/- is out there in barely one account per household, preferably lady of the household.