If you do not have an account with any bank, then you can easily open an account under Pradhan Mantri Jan Dhan Yojana. Not only this, if you have a shortage of documents, you can still open a small account under this scheme. Under Jan Dhan Yojana, the duration of small account (Opening Small Account in Jan Dhan Yojana) is 12 months. During this time, you have to submit documents. As soon as you submit the documents, your small account will be converted into zero balance account. Let us tell you what are the rules and benefits of opening a small account under Jan Dhan Yojana?
What is small account
A small account is opened under Jan Dhan Yojana. You can deposit a maximum of 1 lakh rupees in this account in a year. This limit is not for one time, but there is a limit to deposit this amount in a year. Please tell that at any time you cannot deposit more than 50 thousand rupees in this bank account.
Withdrawal of not more than 10 thousand rupees
Withdrawal of more than 10 thousand rupees cannot be made from the amount deposited in this bank account. However, if the government sends any amount of subsidy or schemes like PM Kisan Scheme, then that amount is not added under the maximum limit.
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Small account opening process
To open this account, you only need to give two self-attested photos. You can open this account by going to any nearest bank. The special thing is that subsidy of any government scheme can be sent to this account.
Convert small account to zero balance account
If you want to convert small account into zero balance account of Jan Dhan Yojana, for this you will have to submit some important documents under Know Your Customer i.e. KYC. After this, your account will be converted to zero balance account.
Significantly, more than 40 crore people have opened accounts of Jan Dhan Yojana across the country. More than Rs 1,29,929 crore is sent to these accounts. For information, tell that Modi government implemented Jan Dhan Yojana in the year 2015. The objective of this scheme is to connect every family in the country with the banking system. With this, the benefits of government schemes reach the beneficiaries directly. Apart from this, poor people also become a part of banking system. During the lockdown, an amount of Rs 500 was deposited in the account of women holding Jan Dhan account from April to June.
