What if you have zero balance in your account but urgently need ₹10,000? It sounds impossible, right? But thanks to a special central government scheme, it’s totally possible.<img>Many middle-class or lower-income families often face situations where they need cash urgently but don’t have enough money in their bank account. The central government has brought a special solution for this problem.<img>Even if you don’t have a single rupee in your account, you can withdraw ₹10,000 for an emergency. It might sound unbelievable, but a special central government scheme makes this possible.<img>Under the ‘Pradhan Mantri Jan Dhan Yojana’ (PMJDY), holders of zero-balance savings accounts can get an overdraft (OD) of up to ₹10,000 if they fulfil specific conditions.<img>So, what exactly is an overdraft? It’s a financial service where the bank allows you to withdraw money up to a certain limit, even if your account has no funds. It works like a short-term loan, and the bank charges interest on it. For Jan Dhan accounts, this limit was first ₹5,000, which was later increased to ₹10,000.<img><p>To get this ₹10,000 facility through a Jan Dhan account, you must meet some important conditions:</p><p>1. Your account must be at least 6 months old with satisfactory transactions.2. Your age should be between 18 and 65 years (earlier it was 18-60).3. Only one member per family can get this OD, and women are usually given preference.4. Linking your Aadhaar card to the account is compulsory.</p><img>The best part is, you don’t need to provide any extra conditions or guarantee to get an overdraft up to ₹2,000. However, for amounts over ₹2,000 and up to ₹10,000, the bank will conduct its internal verification process and check your credit history.<img>Remember, this is a loan, not a grant. So, you have to pay interest on this amount. The interest rate varies from bank to bank, usually between 2% and 12%. You can withdraw this money directly from an ATM. You must repay the amount with interest within the given time, otherwise your credit score could get affected.<img>The government launched this scheme in 2014 for financial inclusion, and today, there are over 550 million accounts. Besides the zero-balance facility, these accounts also offer a RuPay debit card and an accident insurance cover of up to ₹2 lakh under certain conditions.<img>Whether it’s for an urgent medical expense or capital for a small business, this overdraft facility on Jan Dhan accounts has become a huge support for common people. If you have a Jan Dhan account that is more than 6 months old, you can visit your nearest bank branch today to find out more about this facility.
