The central government started the Jan Dhan scheme in 2014. Under this scheme, a savings account opens on zero balance. So far, 41 crore people have opened accounts under this scheme. Under this scheme, there is no need to maintain minimum balance in these accounts. This is the reason why so many crores have adopted this account. The Modi government started it to promote the cashless economy in the country. With these cards, customers are given free personal accident insurance cover worth Rs 10 lakh.
10 lakh rupees insurance will be available for free
Personal accident insurance cover worth Rs 10 lakh is given with RuPay Select Credit Card. All major government banks including SBI and PNB issue this card. Most private banks including HDFC, ICICI Bank, Axis Bank are also issuing this card. You can inquire about this with your bank.
An insurance cover is found in the case of an accidental death or permanent disability. RuPay card is of two types. Classic and Premium. There is a cover of Rs 1 lakh on the classic card and up to Rs 10 lakh on the premium.
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Know about Jan Dhan account
Apart from not keeping minimum balance maintenance, the government gives many more facilities on this account. With this account, RuPay ATM Card (RuPay ATM Card), Accidental Insurance cover of 2 lakh rupees, Life cover of 30 thousand rupees. Along with this, interest is also paid on the amount deposited in the account.
The facility of overdraft of 10 thousand also makes this account quite attractive. Overdraft facility is available after satisfactory operation of this account for 6 months. The beneficiaries of government schemes are sent money from these accounts under direct benefit transfer.
This means that the accounts opened under this scheme are eligible for direct benefit transfer of any scheme from the government. The benefits of schemes like Pradhan Mantri Jeevan Jyoti Bima Yojana, Pradhan Mantri Suraksha Bima Yojana, Atal Pension Yojana can also be availed through open accounts under Jan Dhan Yojana. More than 20 crore women accounts have also been opened under this scheme.