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    Pradhan Mantri Jan Dhan Yojana (PMJDY) Savings Bank Account

    • The National Mission of Financial Inclusion named as the Pradhan Mantri Jan Dhan Yojana seeks to integrate the poorest of the poor with bank accounts.
      • Provision of affordable financial services of the excluded sections
      • Identification of household without any bank account and providing Basic Banking Accounts with Overdraft facility and RuPay Debit Card with inbuilt accident insurance cover of ₹ 1 lakh to them
    • Issuance of RuPay Debit Card with inbuilt ₹1 lakh personal accident insurance cover provided by HDFC Ergo and a life cover of ₹30,000 provided by LIC.
    • No minimum balance requirement
    • Beneficiaries of government schemes will get Direct Benefit Transfer
    • After satisfactory operation of the account for 6 months, an overdraft facility of ₹5,000 will be permitted (Aadhaar linked accounts only)
    • RuPay ATM-cum-debit Card - Allowed free of charge and No Annual / Renewal Fees
    • Mobile Banking / SMS Alert Facility
    • No limit on Cash Remittance at Parent branch and at Satellite Branches
    • Any Resident Individual
    • Age of the account holder should be over 18 years
    • There is no stipulation on the Income of the person

    Minimum Balance Requiremnt

    • Minimum & maximum Balance – No stipulation / Limit
    • Cash Withdrawals - Any amount but restricted to Parent Branch Only
    • 4 withdrawals are free in a month. (Through all channels including ATM, internal transfers, RTGS / NEFT / Standing Instructions / EMI etc)
    • An Individual can hold only one Savings Bank Account and he / she is not allowed to have any other type of SB account
    • Account Holder can have any number of Term / Fixed Deposit, RD etc. accounts