Pradhan Mantri Jan Dhan Yojana (PMJDY) is a scheme launched by the Government of India to ensure financial inclusion of every individual who does not have a bank account in India.

The aim of the scheme is to provide financial services to Indian citizens who will otherwise find it difficult to go about conducting most financial activities.

One of the biggest benefits of opening a Pradhan Mantri Jan Dhan Yojana (PMJDY) account is that an individual will come under the banking net of the country and will be able to make the most of the various subsidies by getting the benefit directly in to his/her bank account.

A few other benefits are:

Insurance benefits:Pradhan Mantri Jan Dhan Yojana (PMJDY) account holders will get an accidental insurance cover of Rs 1 lakh and a life cover of Rs 30,000 – payment on the death of the beneficiary (subject to conditions) under the scheme.

Loan benefits: All bank accounts opened under the scheme will have an overdraft facility of Rs. 5,000.00 for Aadhaar-linked accounts after satisfactory operation in the account for six months.

Mobile banking facilities: Having a Pradhan Mantri Jan Dhan Yojana accounte nables an individual to carry out transactions through a mobile phone. This facilitates the account holders to check their balance and to also transfer funds easily.

Other benefits of opening PMJDY accounts are:

- The account holders would be eligible for interest on their deposits

- They are not mandated to have a minimum balance in the account

- The scheme allows Direct Benefit Transfer for beneficiaries of Government Schemes.

- Account holders can get easy access to pension and other insurance products with the PMJDY scheme.