Do you know about the Indian Jan Dhan ATM withdrawal limit? If you don’t, read this tutorial to find out.
The Pradhan Mantri Jan Dhan Yojana is a program to promote financial inclusion unveiled by Shri Narendra Modi, the Indian Prime Minister, on August 15, 2014.
All citizens of India are eligible to apply for the program as long as they can present identification documentation.
Any bank in India will accept your application for the program.
ATM Withdrawal limit for JHFCU
You can apply online by providing the bank with your Know Your Customer (KYC) information.
Jan Dhan ATM Withdrawal Limit
For Jan Dhan accounts, the maximum monthly ATM withdrawal is Rs 10,000.
Account holders who fully comply with KYC regulations may withdraw up to Rs 10,000 monthly.
Only after verifying the legitimacy of the withdrawals and the following paperwork is it permitted to increase the applicable limit by another Rs 10,000.
Only Rs 5,000 can be withheld from non-KYC-compliant account holders’ monthly ATM withdrawal limits.
A maximum of 4 withdrawals are permitted from your account per month.
This is the country of India’s Jan Dhan ATM transaction limit.
Why The ATM Withdrawal Limit?
The bank has established withdrawal limits to stop money laundering and the sale of Benami properties.
Additionally, the restrictions are intended to safeguard Pradhan Mantri Jan Dhan Yojana’s rural account holders and innocent farmers from unlawful activity.
For this reason, Jan Dhan in India puts restrictions on ATM withdrawals.
How To Increase Your Jan Dhan ATM Limit
You must contact the closest branch if you want to raise your monthly ATM withdrawal limits.
If you can show the branch manager that the withdrawals were legitimate and that you recorded the transactions with the bank, they might give you an extra Rs 10,000.
You can use this to raise the limitations on your Jan Dhan ATM withdrawals in India.
In this guide, that is all we have for you.