Avail benefit of Rs 10,000 even on zero balance, know how PM Jan Dhan account holders can do it
Prime Minister Narendra Modi had announced PM Jan Dhan scheme in his Independence Day address on August 15, 2014.
- PMJDY was announced by PM Narendra Modi in 2014.
- It was launched on August 28, 2014
- PMJDY fosters financial inclusion.
New Delhi. The account holders of the Pradhan Mantri Jan-Dhan Yojana (PMJDY) gives you several financial benefits along with universal access to banking services.
PMJDY accounts are eligible for Direct Benefit Transfer (DBT), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), Atal Pension Yojana (APY), Micro Units Development & Refinance Agency Bank (MUDRA) scheme. (Also read: Financial assistance upto Rs 18 lakh for 3 years, know details of the scheme)
Avail overdraft (OD) facility up to Rs 10,000 on Pradhan Mantri Jan-Dhan account
Pradhan Mantri Jan-Dhan Yojana account holders can get an overdraft (OD) facility up to Rs 10,000 in this zero balance account. The overdraft limit was earlier Rs 5,000, which was then doubled to Rs 10,000. Overdraft upto Rs 2,000 is available without conditions. To avail the overdraft facility, your Jan Dhan account should be at least 6 months old, else you can only get overdraft of up to Rs 2,000. There has also been an increase in upper age limit for overdraft from 60 to 65 years.
The PMJDY was announced by Prime Minister Narendra Modi in his Independence Day address on August 15, 2014, and was simultaneously launched on August 28, 2014, to foster financial inclusion.
This national mission was launched to ensure people have access to financial services, namely, banking, remittance, credit, insurance, pension in an affordable manner.