How to Open PM Jan Dhan Yojana in Bank of Baroda? Eligibility, Documents

Pradhan Mantri Jan Dhan Yojana is a savings scheme introduced by the Narendra Modi Government to uplift the middle and lower-income groups by providing them access to easy banking.

The main aim of this scheme is to provide banking services to the untouched section of society, or the people with no bank accounts.

Financial Inclusion is a primary need for a booming economy and the PMJDY scheme has been a very successful initiative by the Government.

Multiple banking institutions provide PM Jan Dhan Yojana benefits to the users, once such bank is Bank of Baroda.

In this article, we will discuss how to open Pradhan Mantri Jan Dhan Yojana in Bank of Baroda, Documents Required, Eligibility, Features of PMJDY, etc.

How to Open PM Jan Dhan Yojana in Bank of Baroda?

Features of PMJDY

The following are the features of Pradhan Mantri Jan Dhan Yojana-

  • No minimum balance is required to be maintained
  • Account holder receives Rupay Debit Card using which he/she can access their bank account easily
  • The account holder gets Rs.1 Lakh Accident insurance cover for free
  • The benefits of Government schemes will directly reach the account holder’s bank account
  • The Account holder gets Rs. 30,000 life cover provided by LIC for the first time bank users
  • Net Banking and Mobile Banking facilities will be provided with the PMJDY account
  • The account holder can use a UPI account for hassle-free transactions using MPJDY account

Eligibility for PMJDY

The following are the eligibility criteria for PMJDY-

  • Any Individual between the age of 18 years and 69 years can avail of this scheme
  • A minor 10-year-old or older can also avail of this scheme, however, the account will be operational under the watch of parents or the guardian
  • The life insurance cover is provided to the head of the family, if he/she is above 60, then the second eldest earning member will be considered for life cover. One of the joint account holders will get the life instance cover. Any individual being part of another government scheme like Aam AadmiBina Yojana will be eligible for the life cover offered by this scheme.

How to Open PMJDY Account in Bank of Baroda

The following are the step by step processes for applying for Pradhan Mantri Jan Dhan Yojana in Bank of Baroda-

  • The PMJDY account can be opened offline only, Visit the nearest bank branch and ask for the Pradhan Mantri Jan Dhan Account opening form
  • Fill the form with correct details and attach the documents mentioned below
  • Submit the form along with documents to the bank representative
  • Some bank branch could take your biometric details to confirm it with your Aadhaar Card details
  • After verification, you’ll receive a reference number and account opening acknowledgment
  • Further, your verification and background check will be done and after this process, you’ll be notified about your bank account status
  • Now, you’ll receive your Bank of Baroda Starter kit via post, in the kit, you’ll receive a Bank of Baroda Debit card, passbook, cheque book, etc.
  • To use the debit card, you’ll have to activate the BOB Debit Card, also, BOB Net banking and BOB Mobile banking must be activated as well

Documents Required for PMJDY Account

The following are the documents required for the PMJDY Account-

  • Driving license
  • Passport
  • PAN(Permanent Account Number) Card
  • The Voter’s ID issued by the Election Commission of India
  • Aadhar Card
  • Any document which has been notified by the Central Government in consultation with the Regulator
  • NREGA issued job card which has been signed by a state government officer

PMJDY scheme is a flexible scheme that can be opened easily. You can open this account by using your Aadhaar card only or using VID provided by UIDAI. However, you’ll be marked as a risked individual in the banking records and this limits your account.

If you want to use the PMJDY account without limit then, you are required to connect your bank account with PAN Card.

FAQ on PMJDY Account in Bank of Baroda

How many PMJDY accounts can an Individual Open?

You can only open one PMJDY account and other saving accounts will be treated as a normal savings account.

What is the withdrawal limit of the PMJDY Account?

The withdrawal limit of the PMJDY Account is a maximum of Rs.10,000 per month.

Can all the major members of the family join the scheme?

No. Only one member of each family, preferably the head of the family.

Who will pay the premiums for the insurance offered under this scheme?

The government will pay the insurance premium on your behalf. The insurance scheme is a term-based with only death benefits.