Benefits of Pradhan Mantri Jan Dhan Yojana

The Pradhan Mantri Jan Dhan Yojana initiative launched by PM Narendra Modi has been a huge success. In order to make sure of the success of the program, the government has left no stone unturned. Here are some benefits you get under the Pradhan Mantri Jan Dhan Yojana.

Accidental insurance cover

Insurance cover along with a bank account is a rare thing. The Pradhan Mantri Jan Dhan Yojana provides insurance cover. This accidental insurance cover is to the tune of Rs.1 lakh and could be extremely helpful especially for the deprived classes, in the unfortunate event of accidental death of the bread earning member.

No minimum balance

Under this initiative, there is no need to maintain a minimum balance. This is a very unique chance as even the government owned banks need a minimum balance.

Life insurance

The initiative provides life insurance of Rs. 30,000. Even though this is not a big sum, it can be useful for poorer classes.

Easy money transfer

People can easily transfer money with the Jan Dhan Yojana initiative. This is very advantageous for poorer classes.

Easy access to other financial products

Holders of PMJDY would also get access to pension and other insurance products.

Image Credit: Narendra Modi / CC BY-SA 2.0

Image Reference: https://www.flickr.com/photos/narendramodiofficial/14915511739