What is the difference between Jan Dhan Account and Zero Balance Account?
It is very important to talk about the difference between Jan Dhan account and zero balance account. Because at present, almost all the banks are giving their customers the facility to open different types of bank accounts. But most of the people get confused about Jan Dhan account and zero balance account. The main reason for this is that both these accounts can be opened in banks without the minimum amount. If you are also confused about these two accounts, then you must read the whole article, in this article detailed information has been given about what is Jan Dhan Account and Zero Balance Account and what is the difference between Jan Dhan Account and Zero Balance Account
What is Jan Dhan account?
Jan Dhan account is a type of savings account, which is opened in banks under Pradhan Mantri Jan Dhan Yojana (PMJDY). Jan Dhan Yojana was brought by the government in 2014, so that the low-income group people could be connected with banking facilities. Under this scheme, the eligible person can open a savings account without minimum deposit, and can take advantage of the banking facilities offered by the bank.
What is zero balance account?
Zero balance account is a type of savings account which can be opened without any money and there is no requirement of minimum deposit. That’s why this account is called zero balance account. Although both Jan Dhan account and zero balance account can be opened without minimum charges, there are some different terms and conditions for both the accounts.
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What is the difference between Jan Dhan account and zero balance account?
A regular zero balance account usually does not provide the benefit of any kind of insurance coverage. On the other hand, on opening a Jan Dhan account, a RuPay debit card is available, on which the benefit of accident insurance coverage of Rs 2 lakh is given. Also, 10000 rupees can be withdrawn from Jan Dhan account under overdraft, while such facility is not available in zero balance account.
FAQ
Is Jan Dhan Account and Zero Balance Account same?
No, Jan Dhan account is a type of zero balance account. However, not all zero balance accounts are Jan Dhan accounts.
Which is better Jan Dhan Account or Zero Balance Account?
Jan Dhan Account and Zero Balance Account, both these accounts have their own advantages. If you are not eligible for Jan Dhan account then you can open zero balance account. And if eligible, then you can take advantage of the benefits available by opening a Jan Dhan account under the government’s scheme.
What is required to open a Jan Dhan account?
To open a Jan Dhan account, photo and Aadhaar card, voter card, driving license, passport, NREGA card, any one of these documents are required.
In which banks Jan Dhan account is opened?
Jan Dhan account opens in all public sector banks apart from HDFC Bank, ICICI Bank, Axis Bank, Federal Bank, Yes Bank, Kotak Bank.
Which is the best bank to open Jan Dhan account?
Jan Dhan account can be opened in almost all banks. But most of the people prefer to open in State Bank of India. Because State Bank of India is the famous and largest government bank of our country.
Which is the best bank to open zero balance account?
What are the requirements to open a zero balance account?
To open a zero balance account, Aadhaar, Voter’s, Driving License, Passport, any one of these and electricity bill are required as proof of residence.
In which banks zero balance account can be opened?
Zero balance account opens in SBI, HDFC, ICICI, IDBI, Baroda Bank and many more banks. But all these banks provide different facilities on zero balance account.
Which is the best bank to open zero balance account?
Zero balance account can be opened in almost all government and private banks. But most people prefer to open in SBI, because SBI is the country’s famous and old bank as well as the country’s largest commercial bank, by which maximum services are provided free of cost.