Jan Dhan Yojana Benefits: What are the 6 major benefits available with Jan Dhan account? Can banking facilities be availed in Jan Dhan account even without minimum balance? On what conditions do Jan Dhan account holders get the benefit of overdraft and insurance facility?
Pradhan Mantri Jan-Dhan Yojana, launched to promote financial inclusion in the country, has connected crores of people with the banking system. Today most of the families in the country have at least one Jan Dhan account. But the surprising thing is that a large number of account holders are still not aware of many important facilities available from this account.
Jan-Dhan Yojana is not limited to opening a bank account only. Insurance, overdraft, direct benefits of government schemes and many other facilities are also associated with it. The special thing is that through this scheme, it has helped in financially empowering more than 32 crore women. Let us know the 6 big benefits of Jan Dhan account, about which every account holder should be aware.
Also read: Mamata Banerjee’s troubles increased! FIR on inflammatory remarks, on the other hand rebellion in TMC gained momentum
1. Account opens on zero balance
The biggest feature of Jan Dhan Yojana is that it is not necessary to deposit minimum amount to open an account. That means you can open your bank account even with zero balance. This facility has proved to be very useful for those people who could not open traditional bank accounts due to financial reasons.
2. Interest is available on the deposited amount
Interest is also given on the amount deposited in Jan Dhan account as per the prescribed rate of the bank. That is, it is not only an account for transactions, but also a medium to increase savings. Account holders can save as per their need and can also get the benefit of interest on it.
3. Get accident insurance cover
Very few people know that the benefit of accident insurance is also associated with Jan-Dhan account. Under the scheme, accident insurance cover of up to Rs 1 lakh is provided to eligible account holders. In case of any accident, this financial assistance can prove to be a great relief for the family.
4. Benefit of life insurance also
Under Jan Dhan Yojana, eligible beneficiaries can also get the facility of life insurance. As per the prescribed conditions, on the death of the account holder, his family can get a life insurance benefit of up to Rs 30 thousand. However, for this it is necessary to fulfill the eligibility and rules of the scheme.
5. Money from government schemes directly into the account
The benefits of various welfare schemes of the government are sent directly to Jan Dhan accounts. The amount of gas subsidy, pension, scholarship and other government assistance schemes is transferred directly to the bank account of the beneficiary. This has reduced the role of middlemen and made it easier for beneficiaries to get timely assistance.
6. Overdraft facility can be available
If the Jan-Dhan account is operated satisfactorily for six consecutive months, the account holder can avail the benefit of overdraft facility. Under this facility, additional amount can be obtained from the bank if needed. It proves to be very helpful for those people who face sudden financial needs.
How to open Jan Dhan account?
If you do not yet have a Jan Dhan account, you can open it by going to any government or private bank. The following documents are generally required to open an account:
- Aadhar card
- voter id card
- PAN card
- driving license
- Other valid identity and address proof
If a person does not have sufficient documents available, then a small account can also be opened as per the rules of the bank. For this, attested photo and certificate issued by a gazetted officer may have to be submitted.
Women benefit the most
According to government data, bank accounts of more than 32 crore women have been opened under the Jan-Dhan Yojana. This has given women direct control over their money and they have become more financially independent than before. Even in rural areas, this scheme has played an important role in connecting women to banking services.
Also read: Will Iran now earn billions of dollars from the Strait of Hormuz? Big question on world oil supply