PMJDY Scheme: Benefits, Eligibility And How To Link Aadhaar With PMJDY Account

Aadhaar

The Pradhan Mantri Jan Dhan Yojana (PMJDY) is a financial scheme operated by the Ministry of Finance. The scheme was introduced by the Union Government in 2014 with the mission to make basic banking facilities available to everyone, especially the economically weaker sections of society.

What is Pradhan Mantri Jan Dhan Yojana (PMJDY)?

The PMJDY scheme aims to offer financial services such as savings or fixed deposit accounts, insurance, pension, remittance and credit. Till now, more than 32.41 crore PMJDY accounts have been opened, which hold approximately Rs. 81,200 crores of deposit balance. In the last 8 years, the scheme has successfully offered financial freedom to the poor and needy section of our society. 

Read on to know the eligibility criteria and documents required to open a PMJDY account. 

How to Open a PMJDY Account?

One can open a zero-balance savings account under this scheme. Here are the steps that you can follow to open a PMJDY account with a bank:

Step 1: Collect the application form, which is known as the ‘financial inclusion account opening form’. You can collect it from the branch of your preferred bank or download it from the official website of PMJDY. It is available in both English and Hindi. 

Step 2: Fill up the form with the details required, such as bank details, applicant and nominee details. 

Step 3: Attach the required documents to the form. In the case of an online application, you are required to upload the scanned copies of the documents. 

Step 4: Submit the form. Your account will be opened after the successful verification of the documents. 

PMJDY Eligibility Criteria

The eligibility criteria for opening an account under the Jan Dhan Yojana are minimal. They are as follows:

• You must not have an existing bank account 
• You should be at least 10 years old
• You must be a citizen of India

Documents Required to Open a PMJDY Account 

Individuals can open a PMJDY account by submitting any of the documents listed below:

• PAN card
• Aadhaar card
• Passport
• Driving lisence 
• Voter ID 
• NREGA (National Rural Employment Guarantee Act) card 
• A duly-attested letter with your passport size photograph issued by a Gazetted officer

Please note that you do not need to submit all the documents that have been mentioned above. You are required to submit any one of them to prove your identity and residential address. 

In case you are unable to provide these documents, you can also open a ‘Chota Khata account’ under this scheme. 

Also Read: Pradhan Mantri Jan Arogya Yojana: PMJAY Scheme Features And Eligibility Criteria

How to Link Aadhaar with Jan Dhan Account Online?

You can link your Jan Dhan account with Aadhaar online through the official portal of PMJDY. The online process is quite fast and simple. Here’s what you need to do:

Step 1: Go to the official portal of Pradhan Mantri Jan Dhan Yojana.

Step 2: Now, enter your credentials and log into your account. 

Step 3: Locate and click on the ‘Link Aadhaar with bank account’ option on the homepage.

Step 4: A new webpage will open. Here, you have to provide your 12-digit Aadhaar number and then click on ‘Submit’. 

Step 5: Now, choose your bank from the list and click on ‘Submit’. 

Step 6: You will receive an OTP on the mobile number that is registered with your Aadhaar card. Enter the OTP and tap on ‘Submit’.

The process for linking Aadhaar with your Jan Dhan account will be initiated and will be complete within a few days.

How to Link Aadhaar with Jan Dhan Account Offline?

If you do not have a mobile number registered with your Aadhaar, you can link your Jan Dhan account with your Aadhaar offline by visiting the nearest bank branch. Follow these steps:

Step 1: Go to your bank branch and ask for the Aadhaar linking form. You should remember to take the bank passbook and original Aadhaar card. In addition, you will require self-attested copies of your passbook and Aadhaar card.

Step 2: Fill out the form correctly. Provide all necessary information such as bank account number, address, Aadhaar number, etc. Recheck the details before submitting. 

Step 3: Submit the form along with self-attested copies to the concerned officer.

Once you complete the process, your bank account will be linked with your Aadhaar card within 2-3 working days. 

Link Aadhaar with Jan Dhan Account via SMS

The process to link Aadhaar with the PMJDY account through SMS is highly convenient. However, you have to send the SMS from the mobile number that you have registered with your Jan Dhan account. 

Every bank has a unique format in which the customers should send the SMS for linking their account with Aadhaar. Moreover, the number to which you have to send the SMS also varies from one bank to another. 

After checking the SMS format, the mobile number provided for your bank, send the SMS. Your Jan Dhan account will be successfully linked with your Aadhaar. 

Also Read: Pradhan Mantri Suraksha Bima Yojana (PMSBY): Features, Benefits, Eligibility And How To Apply

Link Aadhaar with Jan Dhan Account via ATM 

In addition to the three above-mentioned processes, you can link your PMJDY bank account with Aadhaar by using your ATM card. Here’s what you need to do:

Step 1: Visit your nearest ATM along with your Aadhaar card. 

Step 2: Insert the ATM card and enter your PIN. 

Step 3: Choose the ‘Service’ option from the list of options displayed on the screen.

Step 4: Tap on ‘Link Aadhaar’ and then enter your Aadhaar number. Re-enter the number for confirmation.

Step 5: Finally, click on ‘Submit’ to complete this process. 

What Is the Interest Rate for PMJDY?

To avail the benefits of Pradhan Mantri Jan Dhan Yojana, you have to open a savings account that is linked to the scheme. You can open a PMJDY account in your preferred bank; however, make sure that the scheme is offered by your chosen bank. 

The interest rate offered on your PMJDY account will depend on the savings account interest rate offered by that bank. This rate may vary from time to time. 

Benefits of Pradhan Mantri Jan Dhan Yojana 

PMJDY aims to make basic banking facilities available to everyone by offering unique benefits to its account holders. Here are the benefits one can enjoy under Jan Dhan Yojana:

• Zero deposit savings account
• No minimum balance requirement 
• Insurance cover of up to Rs.1 lakh for accidents to RuPay card holders; for accounts opened after 28.08.18, this cover has been extended to Rs. 2 lakh. 
• Life cover of Rs.30,000 by LIC.
• Government scheme holders get the benefit of Direct Benefit Transfer, Pradhan Mantri Jeevan Jyoti Bima Yojana, Pradhan Mantri Suraksha Bima Yojana, Micro Units Development & Refinance Agency Bank and Atal Pension Yojana.
• Facility of overdraft available after 6 months of opening and operating the account.
• Rs.10,000 of overdraft available for every individual in a household.
• Access to insurance and pension products.
• Death benefit of Rs. 30,000 to the nominee due to the unfortunate demise of the account holder. 

Also read: Everything You Need To Know About Aadhaar KYC 

Banks that Provide PMJDY Scheme

One can open a PMJDY account in either a public or private sector bank. Given below is the list of private and public sector banks which provide the facilities available under Jan Dhan Yojana. 

Final Word

Pradhan Mantri Jan Dhan Yojana does not only focus on providing financial freedom to the rural areas or villages but to the whole country. It aims to ensure that each and every individual gets access to basic financial facilities, including the benefits of pension and insurance. The zero-balance account policy also helps people who belong to the economically weaker sections of society. Individuals can also link Aadhaar with the Jan Dhan account in any of the above-mentioned ways.

FAQs on Pradhan Mantri Jan Dhan Yojana

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This article has been prepared on the basis of internal data, publicly available information and other sources believed to be reliable. The information contained in this article is for general purposes only and not a complete disclosure of every material fact. It should not be construed as investment advice to any party. The article does not warrant the completeness or accuracy of the information, and disclaims all liabilities, losses and damages arising out of the use of this information. Readers shall be fully liable/responsible for any decision taken on the basis of this article.

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