Pradhan Mantri Jan Dhan Yojana (PMJDY): Who Qualifies and What You Get
Learn how to open a basic savings account with a debit card and overdraft options through the PMJDY scheme.
This scheme allows individuals to open a basic savings account to help manage their finances more easily.
Who it's for
This is for any individual who does not currently have a formal bank account.
What you get
You receive a basic savings account that comes with a RuPay debit card. The account also offers an overdraft facility, which is a way to access extra funds if needed.
What it costs you
Opening and maintaining this account is free, as it is a zero-balance account. To set it up, you will need to provide your Aadhar card for the identity verification process.
The catch to know
While an overdraft facility is available, you cannot use it immediately. You must operate your account satisfactorily for at least 6 months before you become eligible.
How to apply
- Visit your nearest bank branch or authorized agent.
- Provide your Aadhar card for identity verification.
- Complete the necessary paperwork to open the account.
- Check the official portal for more details: https://pmjdy.gov.in/