PM Jan-Dhan Yojana: Withdraw Rs 10,000 despite having zero balance, here's how

Written By DNA Web Team | Updated: Oct 26, 2022, 02:47 PM IST

The PM Jan Dhan scheme aims for financial inclusion for the marginalised and the underprivileged people.

Account holders of the Pradhan Mantri Jan-Dhan Yojana (PMJDY) can utilise a number of financial advantages in addition to having access to all banking services. The Pradhan Mantri Jan-Dhan Yojana, which aims to promote financial inclusion, was introduced by Prime Minister Narendra Modi on August 15, 2014, during his Independence Day speech. It was also launched on August 28, 2014. The goal of this national initiative is to guarantee that everyone may affordably access financial services like banking, remittance, credit, insurance, and pensions.

Holders of Pradhan Mantri Jan-Dhan Yojana accounts are eligible for an overdraft (OD) capacity in this zero balance account of up to Rs 10,000. Prior to being raised to Rs. 10,000, the overdraft limit was Rs. 5,000. Unrestricted overdraft up to Rs 2,000 is offered. (Also Read: 7th Pay Commission: DA hike for central government employees to be given soon, check latest updates)

Your Jan Dhan account must be open for at least six months in order to use the overdraft feature; otherwise, you can only borrow up to Rs 2,000. Additionally, the maximum age for an overdraft was raised from 60 to 65 years old.

The Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), Atal Pension Yojana (APY), and Micro Units Development & Refinance Agency Bank (MUDRA) schemes are all available to PMJDY accounts.