Bank of Baroda Zero BalanceSaving Account open Online 2020 || Apply online Bank of Baroda Account

Bank of Baroda Zero BalanceSaving Account open Online 2020 || Apply online Bank of Baroda Account

Pradhan Mantri Jan-Dhan Yojana (PMJDY) is a national mission for financial inclusion to ensure access to financial services, namely, banking/ savings and deposit accounts, remittance, credit, insurance, and pension in an affordable manner. 

The account can be opened in any bank branch or business correspondent (Bank Mitr) outlet. PMJDY accounts are being opened with zero balance.

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Pradhan Mantri Jan Dhan Yojana Benefits

Interest on deposit.

No minimum balance is required.

Pradhan Mantri Jan Dhan Yojana Features

The BSBD account holder should not be maintaining any other savings bank account with any bank/branch to ensure compliance with RBI directives

Accidental insurance cover of Rs. 1 Lakh under Rupay Scheme and for accounts opened after 28/08/2018 accidental Insurance Cover is of Rs. 2 lakhs

The scheme provides a life cover of Rs. 30,000 payable on the death of the beneficiary, subject to fulfillment of the eligibility condition i.e. accounts opened between 15/08/2014 – 31/01/2015

Easy transfer of money across India

Beneficiaries of Government schemes will get direct benefit transfer in these accounts

After satisfactory operation of the account for 6 months, an overdraft facility will be permitted

Access to pension, insurance products

The claim under personal accidental insurance under PMJDY shall be payable if the Rupay card holder have performed minimum one successful financial or non-financial transaction at any of the bank’s Channel both Intra and Inter-bank i.e. on-us (ATM/ Micro-ATM/ POS/ Business Correspondent of the bank at locations by any payment instrument) within 90 days prior to the date of accident including accident date of RuPay PMJDY Cardholders or off us (same bank channels – Bank Customer /RuPay cardholder transactions at other bank channels).

Overdraft facility up to Rs. 10,000 is available in only one account per household, preferably lady of the household subject to eligibility and overdraft for Rs. 2000 is hassle-free

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Pradhan Mantri Jan Dhan Yojana Documents Required

Documents required to open an account under Pradhan Mantri Jan-Dhan Yojana:

If Aadhaar Card/Aadhaar Number is available, then no other documents is required. If the address has changed, then a self-certification of current address is sufficient.

If Aadhaar Card is not available, then any one of the following officially valid documents (OVD) is required: Voter ID card, driving license, PAN card, passport & NREGA Card. If these documents also contain your address, it can serve both as proof of identity and address.

If a person does not have any of the ‘officially valid documents’ mentioned above, but it is categorized as low risk by the banks, then he/she can open a bank account by submitting any one of the following documents:

– Identity Card with applicant’s photograph issued by Central/State Government Departments, Statutory/Regulatory Authorities, Public Sector Undertakings, Scheduled Commercial Banks, and Public Financial Institutions;

– Letter issued by a gazette officer, with a duly attested photograph of the person.

Pradhan Mantri Jan Dhan Yojana Most Important Terms and Conditions (MITC)

BSBD account, which is operated satisfactorily for at least six months.

OD to be granted to the earning individual of the family subject to only one member from a family can be granted limit.

There should be regular credits under the DBT/DBTL scheme/other verified sources.

The BSBD account holder should not be maintaining any other savings bank account with any bank/branch to ensure compliance with RBI directives

The age of the applicant is between 18 years to 65 years.

Minor i.e. customers below the age of 18 years are not eligible for OD under PMJDY.

KCC/GCC borrower is not eligible for PMJDY OD.

Minimum OD amount Rs, 2,000/- without any assessment subject to fulfilling the above eligibility criteria For amount beyond Rs.2000/-, eligible amount for overdraft is 4 times of average balance of the preceding six months or 50% of credit summation in the preceding six months or Rs. 10,000 whichever is lower.

Dedicated Toll free no. for Pradhan Mantri Jan Dhan Yojana (PMJDY) customers and other Financial Inclusion scheme: 18001027788

Apply from the official website “CLICK HERE

Zero Balance Account with overdraft facility in savings bank a/c up to a maximum of 2 months pension amount (net credit to SB a/c last month)

Bank Account: Open a new bank account online at Bank of Baroda & enjoy hassle free digital banking services. Exclusive privileges & exciting offers.

Baroda Basic Savings Account · No charges for not maintaining minimum balance · Cheque book · ATM-cum-debit card · Free passbook · No charges for dormancy.

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