Which people get benefits under Jan Dhan Yojana, who is entitled to all these benefits!
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Giving priority to the welfare of its citizens, the Central Government introduces new schemes for them every year. In 2017, Prime Minister Narendra Modi launched the Jan Dhan Yojana, which aimed to provide bank accounts to millions of people across the country. Zero-balance accounts were opened under this scheme with additional benefits. Let us find out the benefits and eligibility criteria of Pradhan Mantri Jan Dhan Yojana.
Key Features of Pradhan Mantri Jan Dhan Yojana:
Zero Balance Accounts: This scheme focuses on providing banking facilities to everyone irrespective of their financial status. Zero-balance accounts can be opened ensuring accessibility for all.
Accident Insurance Cover: Under this scheme, account holders are entitled to accident insurance coverage of up to Rs 2 lakh. It provides financial assistance in case of unexpected accidents.
Life Cover: With accident insurance, beneficiaries get a life cover of up to thirty thousand rupees, providing additional financial security.
Interest on Deposits: These accounts earn interest on deposits, thereby providing small but significant financial benefits to the account holders.
Overdraft Facility: Account holders can avail overdraft facility of up to Rs 10,000, which provides financial flexibility during emergencies.
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Eligibility Criteria for Opening an Account:
To open an account under Pradhan Mantri Jan Dhan Yojana, individuals must fulfil the following criteria:
Indian Citizenship: Applicant must be a citizen of India.
Financial Inclusion: The scheme mainly targets the economically weaker sections of society, making it accessible even to those who do not have a bank account.
No minimum balance required: There are no minimum balance requirements for these accounts, making them accessible to everyone.
No time limit: The scheme does not impose any time limit for opening an account, allowing individuals to enrol at their convenience.
Persons interested in opening an account can visit the nearest branch of any nationalized bank and submit the required documents.
