Jan Dhan Yojana: What It Is, Eligibility, and Documents Required

The Pradhan Mantri Jan Dhan Yojana (PMJDY) is one of the biggest financial initiatives in India, designed to bring every household under the umbrella of the banking system. With a Pradhan Mantri Jan Dhan Yojana (PMJDY) account, you do not just get a simple savings option. It gives access to an overdraft facility ranging from ₹5,000 to ₹10,000, offering you extra financial flexibility whenever you need it. 

If you are planning to open a PMJDY account in 2025, here is everything you should know. It includes eligibility, benefits, required documents, and the step-by-step process, which will help you make a smart and confident decision.

Key Highlights

• PMJDY comes with an accidental insurance coverage of up to ₹2 lakh.
• There is no processing fee on the loan or overdraft against your PMJDY account.
• 4 cash withdrawal allowed in a month from PMJDY account.

What is the Jan Dhan Yojana Scheme?

The Prime Minister of India launched Jan Dhan Yojana in August 2014 under the National Mission for Financial Inclusion (NMFI). It aims to promote universal banking services for all households and unbanked adults in India. 

This scheme additionally provides accidental insurance coverage on RuPay cards between ₹1 lakh and ₹2 lakh based on the date of account opening. You can open an account under the scheme to get the insurance coverage.

Eligibility Criteria for Jan Dhan Yojana

• You need to be a citizen of India.
• Minors above 10 years need to apply under the administration of a legal guardian.

Documents Required for Jan Dhan Yojana Account Opening

• Aadhaar card
• PAN card, voter ID card, or ration card as a government ID proof
• Permanent address proof, such as a driving license, passport, water bill, electricity bill or telephone bill
• Filled-in application form
• Passport-sized photographs
• Additional documents, if mentioned by the Central Government, will be based on regulatory guidelines.

Jan Dhan Yojana Benefits

No Minimum Amount Required

As an Indian national, you do not need any minimum balance to open or maintain your PMJDY account. Further, you can access your account from bank branches, ATMs and bank correspondents or mitras (in rural areas).

Notably, you can withdraw cash from the account 4 times every month. 

Small Account

You can open a PMJDY account without any legal documents. The account remains valid for 12 months, during which you need to submit officially valid documents. Banks can extend account validity for up to an additional year based on your documents.

Accidental Insurance Coverage

The account comes with a free RuPay debit card with an inbuilt accidental insurance coverage of ₹2 lakhs if the account has been opened after 28th August 2018. If you opened the account before the mentioned date, you will get a ₹1 lakh accidental insurance cover.

Overdraft Facility

If you need additional funds for your expenses, you can avail an overdraft facility up to ₹10,000 with your PMJDY account.

Jan Dhan Yojana Application Process

Step 1: Visit the official PMJDY website.

Step 2: Navigate to the ‘Account Opening Form’ option under ‘e-documents’.

Step 3: Select the language as English or Hindi.

Step 4: Download the form in PDF format and take a printout.

Step 5: Fill in personal details and bank data such as bank branch, town or village name, district/block, Aadhaar number, income, profession, Kisan credit card details and others.

Step 6: Submit the filled-in form at your nearest bank branch.

Ensure you mention your mobile number and email ID correctly for seamless contact by the bank, if required. Notably, you can earn the same interest rate as your savings account on a PMJDY account.

If you want to earn higher interest than a savings account, you can check out fixed deposit interest rates by Stable Money partners. Stable Money-partnered banks offer up to 8.40% interest rate per annum with DICGC insurance coverage up to ₹5 lakh.

Download the Stable Money app now to book multiple fixed deposits 24*7 online!