Get Rs 10,000 Even On Zero Balance, Know How PM Jan Dhan Account Holders Can Do It | Personal finance news
New Delhi. Pradhan Mantri Jan-Dhan Yojana (PMJDY) account holders provide you with several financial benefits as well as 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). (Also Read: Financial aid up to Rs 18 lakh for 3 years, know the details of the scheme)
Have an overdraft facility (OD) up to Rs 10,000 on the Pradhan Mantri Jan-Dhan account
Pradhan Mantri Jan-Dhan Yojana account holders can get Overdraft Facility (OD) up to Rs 10,000 in this zero balance account. The overdraft limit was previously Rs 5,000 which was later doubled to Rs 10,000. Overdraft up to Rs 2,000 is available without conditions. To avail the overdraft facility, your Jan Dhan account must be at least 6 months old otherwise you can only get overdraft up to Rs 2,000. There has also been an increase in the upper age limit for the overdraft of 60 to 65 years.
The PMJDY was announced by Prime Minister Narendra Modi in his Independence Day speech on August 15, 2014 and simultaneously launched on August 28, 2014 to foster financial inclusion.
This national mission was launched to ensure that people have access to financial services i.e. banking, remittances, credit, insurance and retirement in an affordable way.