Pradhan Mantri Jan Dhan Yojana Benefits

Introduction

The Pradhan Mantri Jan Dhan Yojana was launched in the year 2014 to ensure that the poor of the country have better and easy access to the banking system in the country. The scheme had the aim to ensure that the underprivileged are introduced to how banking functions, and that they can ensure the safety and security of their earnings. There are various benefits of Pradhan Mantri Jan Dhan Yojana including facilities of chequebook, debit card, insurance cover, mobile banking, and much more. The Jan Dhan Yojana benefits apply to individuals over the age of ten without access to any bank account.

Jan Dhan Yojana benefits

• Jan Dhan Yojana benefits of loan: 

Jan Dhan account benefits include a loan of Rs. 5,000 after completion of six months of the Jan Dhan account.

• Jan Dhan account benefits of mobile banking: 

This feature makes things easier for the account holder and allows them to utilise the benefits without having to visit a bank every time.

• Insurance benefits of Jan Dhan account: 

The scheme provides a life insurance cover of Rs. 30,000 coverage, and Rs. 2 Lakhs insurance sum if there is a death caused by an accident.

Macro benefits of Jan Dhan Yojana

Pradhan Mantri Jan Dhan Yojana benefits also include:

• Accounts for all family members for savings. 

• RuPay card for every family.

• There is no minimum balance that you need to maintain.

• Overdraft facility provides Rs. 5,000.

• Since aadhar is linked to the PMJDY account, there are no chances of fraud. 

• You may transfer money from any private or public bank in the country

Pradhan Mantri Jan Dhan Yojana benefits include a kit that contains a financial literacy guide as well.

Pradhan Mantri Dhan Jan Yojana benefits explained

Here are detailed explanations of several benefits of Pradhan Mantri Jan Dhan Yojana for you to understand why the scheme is so widely popular:

1. Zero balance account:  Among other benefits of Jan Dhan account is the fact that it has no requirements of a minimum balance.

2. Interest rates:Benefits of Jan Dhan account include earning interest depending upon the deposits that are made.

3. Chequebook: Pradhan Mantri Dhan Jan Yojana benefits come with the option for you to avail as per your need a chequebook. This, however, requires a minimum balance.

4. Debit card:Pradhan Mantri Dhan Jan Yojana benefits also come with a debit card for each family which makes it easier to withdraw money from the ATM at times of urgency.

5. Accident insurance coverage: Pradhan Mantri Jan Dhan Yojana benefits include coverage in case of an accident if -

• the one with a RuPay card should have completed one transaction within 90 days from the accident date
• this could be a transaction at any bank, ATM, or E-commerce channel
• transactions that are customer-induced would also count

6. Aadhar linking:This feature would add the advantage of receiving money directly into their Dhan Yojana account for schemes such as LPG subsidy, and would ensure transparency

7. Pension scheme:Jan Dhan account benefits also includes facilities of pension for retired and old-age people

Through the multiple benefits of Pradhan Mantri Jan Dhan Yojana, the scheme would ensure that farmers and other daily wage workers do not end up being exploited by local money lenders. Pradhan Mantri Jan Dhan Yojana is a scheme that provides multiple options for the underprivileged, making it easier for them to be introduced to the banking system and providing easy access through online mobile banking platforms as well.