2 min read
25 May 2021

The Pradhan Mantri Jan Dhan Yojana is a scheme that aims to provide low-income households access to financial services, whether it is a bank account, a need-based credit program, or insurance and pension. If you are looking to enrol under the scheme but aren’t sure whether you’re eligible, here’s a brief guide to help.

Criteria for eligibility

All Indian nationals are eligible to apply for the Jan Dhan Yojana scheme. Any form of identity proof that gazette officers duly authorise is acceptable to open a Jan Dhan Yojana account; in the absence of any available documentation, banks are required to conduct thorough background checks. Rest assured that lack of adequate documentation does not automatically disqualify you from the scheme. Minors above the age of 10 are also eligible for the scheme and can avail of the RuPay debit card associated with the account to withdraw money from ATMs.

Life insurance eligibility

The conditions for life insurance eligibility under the Jan Dhan Yojana are a lot more stringent than they are for basic qualifications for the scheme. Life insurance coverage is only offered to one member of a household, and you must either be the head of your family or, if the head of the house is over 60 years of age, you must be the second oldest earning member.

Additional read: How is Pradhan Mantri Jan Dhan Yojana beneficial

You must also be between 18 to 59 years of age and have opened a bank account for the first time between 15th August 2014 and 31st January 2015. Your bank account must be bio-metric linked, and you must also hold a RuPay card. You are not eligible for insurance coverage if you are a State or Central Government employee or a public sector employee. You are also not eligible for insurance coverage if you have a taxable income or have life insurance from any other scheme.

Personal accident insurance eligibility

Accident cover pays out up to Rs. 1 lakh in the case of accidental death. To be eligible, you must have a RuPay card with at least one successful financial or non-financial transaction within 90 days before the date of the accident.

Documents you will need to apply

To apply for the PMJDY, you will need to download the official Financial Inclusion Account Opening Form. You will need to specify your bank details and personal information, including your Aadhar number and the identification details of your nominee. You will also be required to submit identification proof in the form of a ration card, PAN card, voter ID, Aadhar Card or other government-issued documentation.

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