Pradhan Mantri Jan-Dhan Yojana (PMJDY)

What is it?

Pradhan Mantri Jan-Dhan Yojana is the Government of India's National Mission for Financial Inclusion. Its purpose is that every household and adult in India should have at least one bank account, so that savings, money transfers, credit, insurance and pension can reach people directly.

The account is a Basic Savings Bank Deposit Account. No minimum balance has to be kept in it. The official scheme page states plainly that "There is no requirement to maintain any minimum balance in PMJDY accounts". Interest is earned on money kept in the account, and a RuPay debit card is provided free of cost. The account also allows at least four free withdrawals a month, including ATM withdrawals, and there is no limit on deposits.

The RuPay card carries a built-in accident insurance cover. The published figure is Rs 1 lakh, enhanced to Rs 2 lakh for new PMJDY accounts opened after 28 August 2018. After the account has been running satisfactorily, an overdraft facility of up to Rs 10,000 is available to eligible account holders.

The scheme is meant for "persons not having any other account". Accounts are opened at bank branches or at Business Correspondent (Bank Mitra) outlets in villages and small towns. Because a PMJDY account is Aadhaar-linked and DBT-enabled, it is also the account through which many other government payments are routed. In FY 2024-25, Rs 6.9 lakh crore was credited into bank accounts under various DBT schemes.

One point is commonly misunderstood: the overdraft is not automatic. Under the published conditions it is extended only to eligible account holders after the bank assesses how the account has been operated, and the accident cover is tied to the RuPay card, not simply to holding the account.

Potential benefit

₹10,000 – ₹2,00,000

The account carries no minimum balance requirement, pays interest on deposits, comes with a free RuPay debit card, and allows at least four free withdrawals a month. The RuPay card carries accident insurance of Rs 1 lakh, enhanced to Rs 2 lakh for new PMJDY accounts opened after 28 August 2018. An overdraft facility of up to Rs 10,000 is provided to eligible account holders.

Who can apply?

Other conditions stated by the government

• Intended for "persons not having any other account" - that is, people without an existing bank account.
• The account is opened through a bank branch or a Business Correspondent (Bank Mitra) outlet.
• The enhanced Rs 2 lakh accident cover applies only to new PMJDY accounts opened after 28 August 2018; earlier accounts carry Rs 1 lakh.
• The overdraft of up to Rs 10,000 is stated to be available to "eligible account holders", not to every account holder automatically.
• No age limit and no income ceiling are stated on the official pages checked.

Eligibility information is provided for informational purposes only. Final eligibility and approval are determined by the relevant government authority.

How to apply

The account is opened at any bank branch or Business Correspondent (Bank Mitra) outlet by asking for a PMJDY Basic Savings Bank Deposit Account. KYC is completed at the branch and the RuPay debit card is issued. Satisfactory operation of the account is the published basis on which banks assess account holders for the overdraft facility later.

Where to apply: bank, csc and offline

Deadline

No fixed deadline. Applications are accepted on a rolling basis.