Pradhan Mantri Jan-Dhan Yojana (PMJDY) is National Mission for Financial Inclusion to ensure access to financial services, namely, Banking/ Savings & Deposit Accounts, Remittance, Credit, Insurance, Pension in an affordable manner.
Interest on deposit.
Accidental insurance cover of Rs.1.00 lac
No minimum balance required.
Life insurance cover of Rs.30,000/-
Easy Transfer of money across India
Beneficiaries of Government Schemes will get Direct Benefit Transfer in these accounts.
After the satisfactory operation of the account for 6 months, an overdraft facility will be permitted
Access to Pension, insurance products.
Accidental Insurance Cover, RuPay Debit Card must be used at least once in 45 days.
Overdraft facility up to Rs.5000/- is available in only one account per household, preferably lady of the household.
The Atal Pension Scheme will bring security to aging Indians while at the same time promote a culture of savings and investment among the lower and lower-middle-class sections of society. One of the greatest benefits of the scheme may be enjoyed by the poorer sections of society.
The Atal Pension Yojana (APY) is open to all Indians between the age of 18 and 40. This allows an individual to contribute for at least 20 years before reaping the benefits of the scheme. Any bank account holder who is not a member of any statutory social security scheme can avail of the scheme.
Subscribers of APY will get the monthly pension after they reach the age of 60 years. If someone joins at the age of 18 years and contributes Rs.42 until he reaches 60 years, then monthly pension received would be Rs. 1,000.
Pension amount will range from Rs.1,000 – Rs. 5,000.
The auto-debit facility will also be provided. With this monthly contribution would be automatically debited from the subscriber’s account.
This is a non-linked, non-participating, one-year renewable group term insurance product. This product has been designed to meet the requirements of Government of India’s “Pradhan Mantri Jeevan Jyoti Bima Yojana” (PMJJ BY) scheme. The scheme will be administered by Banks and be guided by the scheme rules as specified by the Government of India from time to time.
Protection at an affordable cost
Instant processing: No medical examination required
Easy enrolment: Enrolment based on a simplified proposal form