PM Jan Dhan Yojana 2025 Zero Balance Account: A to Z Details
A – About the Scheme
PMJDY is a National Mission for Financial Inclusion, providing every unbanked adult with a Basic Savings Bank Deposit (BSBD) account that requires no minimum balance, alongside access to credit, insurance, and pension services.
B – Benefits of Zero Balance Account
- No Minimum Balance: Open and maintain the account with zero balance, eliminating maintenance fees.
- RuPay Debit Card: Free card with ₹2 lakh accidental insurance cover (for accounts opened after August 28, 2018; ₹1 lakh for earlier accounts).
- Overdraft Facility: Up to ₹10,000 after 6 months of satisfactory operation (one per household, preferably for the lady).
- Life Insurance: ₹30,000 cover for accounts opened between August 15, 2014, and January 31, 2015 (subject to eligibility).
- Free Transactions: No charges for deposits, withdrawals, or fund transfers via mobile banking.
- Direct Benefit Transfer (DBT): Receive government subsidies/schemes (e.g., LPG subsidy, MGNREGA payments) directly.
- Mobile Banking: Free access to check balances and transfer funds using basic phones (USSD).
C – Current Status (March 19, 2025)
- Over 55 crore accounts opened (per pmjdy.gov.in, January 2025 data).
- ₹2.53 lakh crore deposited across accounts.
- 37 crore RuPay cards issued.
D – Documents Required
- With Aadhaar: Only Aadhaar Card/Number (no other document needed).
- Without Aadhaar: One Officially Valid Document (OVD) like Voter ID, Driving License, PAN Card, Passport, or NREGA Card.
- Address Change: Self-certification of current address suffices.
- Small Account: Self-attested photo + signature/thumbprint (valid for 12 months, extendable with OVD proof).
E – Eligibility Criteria
- Nationality: Indian citizen.
- Age: No upper limit; 10+ years at Business Correspondent (BC) points, no restriction at branches.
- Bank Account: Individuals without an existing account; existing account holders can get RuPay benefits by linking.
- Household: Focus on unbanked adults (shifted from “every household” post-2018).
F – Features
- Zero-balance BSBD account.
- Free RuPay card with insurance.
- Accessible via bank branches or Bank Mitras (BCs).
- Supports financial literacy programs.
G – Goals/Objectives
- Ensure banking access for all unbanked adults.
- Promote financial security and independence.
- Facilitate DBT to reduce subsidy leakages.
H – How to Register
- Visit: Any bank branch (public, private, RRB) or Bank Mitra outlet.
- Download Form: Available at pmjdy.gov.in under “e-Documents” (English/Hindi).
- Fill Details: Personal info, Aadhaar/OVD, bank branch, mobile number.
- Submit: To bank/BC with documents; no fee required.
- Account Opening: Instant with Aadhaar (via e-KYC); otherwise, post-verification.
- Receive: Passbook and RuPay card.
I – Important Dates (2025)
- Ongoing Scheme: Registration open year-round as of March 19, 2025.
- Overdraft Eligibility: 6 months post-account opening (e.g., September 2025 for March registrants).
- Insurance Updates: Check pmjdy.gov.in for 2025-specific deadlines.
J – Joint Account Option
- Yes, joint accounts allowed at bank branches (not BC points).
K – Key Updates (2025)
- Accidental insurance raised to ₹2 lakh (post-August 2018 accounts).
- Overdraft limit remains ₹10,000, with no processing fees (confirmed March 2025).
L – Limitations
- Small accounts (no OVD): ₹50,000 balance cap, ₹10,000/month withdrawal limit, valid for 12 months.
- Overdraft: One per household, subject to bank approval.
M – Mobile Banking
- Free access via USSD (*99#) on basic phones or apps on smartphones; check balance, transfer funds.
N – Notification
- Latest updates via pmjdy.gov.in; 2025 enhancements (e.g., tech upgrades) expected mid-year.
O – Official Website
- Primary Portal: pmjdy.gov.in
- Toll-Free: 1800-11-0001, 1800-180-1111
P – Payment Benefits
- DBT for schemes like PM Kisan, Ayushman Bharat.
- Interest on deposits (varies by bank, typically 3-4% p.a.).
Q – Quick Facts
- Launched: August 28, 2014.
- Beneficiaries: 55.02 crore (January 2025).
- Bank Mitras: 13.55 lakh delivering services.
R – Registration Process
- Step 1: Collect form (online or bank).
- Step 2: Submit with Aadhaar/OVD at branch/BC.
- Step 3: e-KYC (Aadhaar) or manual verification.
- Step 4: Account activated; RuPay card issued.
S – Selection Criteria
- No merit list; open to all eligible unbanked adults.
- Priority: Rural/semi-urban areas, women, low-income groups.
T – Table of Benefits
| Benefit | Details |
|---|---|
| Zero Balance | No minimum balance required |
| RuPay Card | Free, ₹2 lakh accident insurance |
| Overdraft | Up to ₹10,000 after 6 months |
| Life Insurance | ₹30,000 (2014-15 accounts) |
| DBT | Direct subsidies to account |
| Mobile Banking | Free balance check, transfers |
U – Updates (2025)
- Focus on “every adult” (post-2018 shift).
- Tech enhancements for faster e-KYC (March 2025 posts on X).
V – Verification
- e-KYC: Aadhaar-based OTP/biometric.
- Manual: OVD checked by bank/BC staff.
W – Who Can Apply
- Indian nationals, 10+ years, without an existing bank account (or seeking PMJDY benefits).
X – X-Factor
- Free insurance and overdraft make it a standout scheme.
- 5G-driven mobile banking enhancements expected in 2025.
Y – Yearly Impact
- 2024: Saved ₹2.7 lakh crore via DBT (per Budget 2024).
- 2025 Goal: Expand to 60 crore accounts.
Z – Zero Balance Advantage
- Eliminates financial barriers for the poor.
- Encourages savings with no penalties.
Notes
- Benefits: The zero-balance feature, combined with insurance and overdraft, remains unchanged in 2025, per pmjdy.gov.in (January 2025 data). Life insurance applies only to early adopters (2014-15).
- Registration: Process streamlined with Aadhaar; small accounts cater to those without OVDs, extendable with proof of application for valid ID.
- 2025 Specifics: No major policy shifts announced by March 19, 2025; monitor pmjdy.gov.in for mid-year updates.
For registration or to check status, visit your nearest bank branch, Bank Mitra, or pmjdy.gov.in. Let me know if you need further clarification!