What are the benefits of PMJDY Scheme?

Abha Toppo
Abha Toppo

Insurance Benefits

The account holders under Jan Dhan Yojana gets an accidental insurance cover of Rs 1 lakh & a life cover of Rs 30,000. The payment will be given on the death of the beneficiary.

Loan Benefits

Jan Dhan Yojana account holders can also avail an overdraft facility of up to Rs 5,000. This facility is available against one account per family. The amount of loan may look small but it is definitely a boon to those below poverty line in India.

Mobile Banking Facility

Enabling carrying out transactions via mobile phone facilitates the account holders in checking balance and transferring funds easily across India.

Other benefits:

  • Account holders will be eligible for interest on their deposits
  • They are not authorized to have a minimum balance in account
  • PMJDY allows Direct Benefit Transfer (DBT) for beneficiaries of Govt. schemes
  • Account-holders also get easy access to pension as well as other insurance products with this scheme.

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