- 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