Do you know the Jan Dhan ATM withdrawal limit in India? If you don’t, then read through this guide to learn.
Pradhan Mantri Jan Dhan Yojana is a financial inclusion initiative announced by the Prime minister of India, Shri Narendra Modi, on 15th august 2014.
All Indian nationals are eligible to apply for the scheme, provided they have proof of identity.
You can apply for the scheme from any bank in India.JHFCU ATM Withdrawal Limit
You can apply online by submitting Know Your Customer (KYC) credentials to the bank.
Why The ATM Cashout Limit
The bank has set withdrawal limits to prevent Benami property transactions and money laundering.
The limits are also meant to protect the innocent farmers and rural account holders of Pradhan Mantri Jan Dhan Yojana from illegal activities.
This is the reason Jan Dhan has ATM withdrawal limits in India.
Jan Dhan ATM Withdrawal Limit
The monthly ATM withdrawal limit on Jan Dhan accounts is Rs 10,000.
Fully KYC compliant account holders may withdraw up to Rs10,000 every month.
A further applicable limit increase of Rs 10,000 is only acceptable if you ascertain the genuineness of the withdrawals and after documentation.
The monthly ATM withdrawal limit for non-KYC-compliant account holders is only Rs 5,000.
You are limited to a maximum of 4 withdrawals in a month.
This is the Jan Dhan ATM transaction limit in India.
How To Increase Your Jan Dhan ATM Transaction Limit
If you want to increase your monthly ATM withdrawal limits, you need to visit the nearest branch for inquiries.
The branch manager may allow you an extra Rs 10,000 provided you prove the genuineness of the withdrawals and record the transactions with the bank.
This is how to increase your Jan Dhan ATM withdrawal limits in India.
That is all we have for you in this guide.
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