New Delhi. Account holders of Pradhan Mantri Jan-Dhan Yojana (PMJDY) are eligible for several financial benefits as well as universal access to banking services.

Benefits include – having a basic savings bank account for the unbanked; no obligation to maintain a minimum balance; earn interest on deposit in PMJDY accounts; and access to the Rupay debit card is provided to the PMJDY account holder.

Among the main financial benefits is free accident insurance coverage. PM Jan Dhan Yojana bank account holders are eligible to get Rs 1 lakh (upgraded to Rs 2 lakh for new PMJDY accounts opened after 28.8.2018) as accident insurance cover, available with RuPay card issued to PMJDY account holders. General insurance cover of Rs 30,000. They are also eligible for Overdraft Facility (OD) up to Rs 10,000.

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).

However, it should be noted that benefits up to Rs 1.3 lakh can only be used if the account is linked to the Aadhaar card. The government has made it compulsory to link the Pradhan Mantri Jan Dhan Yojana bank account to your Aadhaar card under the Prevention of Money Laundering Act.

How to link Aadhaar with PM Jan Dhan Yojana bank account?

There are four ways to link your Aadhaar to the PM Jan Dhan Yojana bank account – by physically going to the bank, using the SMS service and going to your ATM.

Important Documents Required to Link Aadhaar to Pradhan Mantri Jan Dhan Yojana Bank Account

– Aadhaar number

– Bank card

– Registered Aadhaar mobile number to receive OTP and send SMS

– Bank book

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.