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A Jan-Dhan account offers a few facilities that a normal savings account doesn’t. These are no minimum balance, free life insurance, enhanced interest rate, overdraft facility, etc.

Did you know that anyone can turn his/her normal savings bank account into a Prime Minister Jan-Dhan Yojana account through a few normal steps?

Here is a guide.

Basic criteria

To apply for PMJDY, you just need to fill a form. You must be an Indian citizen in order to open an account under this scheme.

Minors above 10 years of age are also eligible to open a bank Jan-Dhan account.

Conversion of a normal account into a Jan-Dhan account is very much a part of banking rules. Customers have to visit their respective banks and put submit a written application along with the KYC documents to the bank for issuing a RuPay card and transfer the account against the existing savings bank account.

After submission of this form, once RuPay debit card is issued, the savings account will automatically get converted into the Jan-Dhan account within 3-4 working days.

Documents required

One has to fill in the following information in the prescribed form – name account holder’s name, address, mobile number, bank branch name, business/employment, number of dependents, annual income, nominee, village code, or town code, etc.

Along with the completed form, one has to submit an Aadhar card and any one of the following documents: PAN card, passport, MNREGA job card, driving license, voter ID card.

The statistics

The number of Jan-Dhan beneficiaries in the country stood at 42.20 crore at the end of FY21 and it rose to 42.31 core at the end of COVID-ravaged April. As many as 11 lakh Jan-Dhan accounts were added in the month when the second wave of the infection spread throughout the country.

However, the average deposit in Jan-Dhan accounts slipped a little from Rs 3,449 at the end of March to Rs 3,386.85 at the end of April.