PM Jan Dhan A/c: Government’s flagship programme PM Jan Dhan Yojana was started in 2014 after the Narendra Modi’s government took office. The scheme has several benefits including the government’s target of opening accounts for all. In the wake of the coronavirus crisis, the government has sent Rs 500 in the accounts of people. The Centre and state governments have been sending money in the Jan Dhan accounts of the people to help them in this time of financial crisis. It is easy to open a Jan Dhan Account. If you have an account in any bank, you can convert it into a Jan Dhan Account.

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How to convert an old account into Jan Dhan account?

1) Visit the bank branch
2) Fill a form and apply for a RuPay card
3) Submit the complete form in the bank
4) The bank will convert your old account into a Jan Dhan account

Benefits of Jan Dhan accounts

1) The Jan Dhan account holder gets interest on the amount deposited in the bank
2) The account holder gets mobile banking facility free of cost
3) The Jan Dhan account holder can avail an overdraft facility of Rs 10000 which means that even if there is no money in the account, you will still get Rs 10000. But this facility is given to the account holder only after a few months of the opening of the account.
4) Along with this account, the account holder is covered for an accident cover of Rs 2 lakh
5) You can also do an insurance cover of Rs 30000. On the death of an account holder, the nominee gets the insured amount
5) The account holder can buy insurance and Pension schemes through Jan Dhan accounts.

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6) This account does not have a requirement of maintain minimum balance. You will be required to maintain a minimum balance only if you avail the cheque book facility.