Benefit Amount
Up to Rs. 20,000 (Rs. 10,000 initial, Rs. 10,000 additional on repayment)Loan
✓ Government Verified✓ Direct Bank Transfer
ℹAbout PM SVANidhi - Pradhan Mantri Street Vendor's AtmaNirbhar Nidhi
PM SVANidhi is a central sector scheme launched by the Ministry of Housing and Urban Affairs to provide collateral-free working capital loans to street vendors. The scheme aims to help vendors restart their businesses and improve their livelihoods after disruptions. Eligible vendors can obtain loans up to Rs. 10,000 initially, which can be increased to Rs. 20,000 on timely repayment. The loan comes with a 7% annual interest rate, and the government provides a 1% cashback on timely monthly repayments. The scheme covers street vendors engaged in vending activities in towns and cities across India. Beneficiaries receive encouragement through digital payment incentives and support to formalize their businesses.
Ministry
Ministry of Housing and Urban Affairs
✓Who Is Eligible?
To be eligible for PM SVANidhi scheme, you must be a street vendor aged 18 years or above who is currently engaged in vending activities in towns and cities across India. The scheme is open to all street vendors regardless of their background or category. There is no specific income limit mentioned, but you must be actively involved in street vending as your occupation. You need to have a valid Aadhaar Card and a bank account in your name to receive the loan. If your municipality has issued you a Street Vendor Certificate, it will be helpful for your application, though it may not be mandatory. The scheme is available across all Indian states and union territories, so your location does not restrict your eligibility as long as you operate in an urban area. Gender is not a restriction, and vendors of any gender can apply. The main requirement is that you should be engaged in legitimate vending activities and willing to repay the loan on time. Your age should be confirmed through valid identity documents. For exact details about any specific local requirements or additional eligibility criteria in your area, it is recommended to check the official PM SVANidhi portal or contact your local municipal corporation office.
Quick eligibility check:
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Gender: Male, Female, Other✓
Category: General, OBC, SC, ST📝How to Apply for PM SVANidhi - Pradhan Mantri Street Vendor's AtmaNirbhar Nidhi
Here are the simple steps to apply for PM SVANidhi scheme:
1. Visit the official PM SVANidhi website at https://pmsvanidhi.mohua.gov.in/ using your mobile phone or computer.
2. Look for the application or registration option on the homepage and click on it to start your application process.
3. Fill in your personal details carefully, including your name, age, mobile number, and Aadhaar Card number as required in the form.
4. Provide your bank account details where you want to receive the loan amount if approved.
5. Upload the required documents such as your Aadhaar Card, identity proof, address proof, and Street Vendor Certificate if you have one issued by your municipal authority.
6. Review all the information you have entered to make sure everything is correct, then submit your application.
7. Keep your application reference number safe and wait for confirmation from the lending organization, which will contact you regarding loan approval and next steps.
Make sure you have all your documents ready before starting the application. If you face any difficulty, you can visit the official website for additional help or contact your local municipal office for guidance.
Visit Official Portal →📄Documents Required6 required
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Street Vendor Certificate (if issued by municipal authority)?Frequently Asked Questions
1Who is considered a street vendor under PM SVANidhi?
A street vendor is a person engaged in vending of articles, goods, wares, food items or services in streets or public spaces. This includes hawkers, pushcart vendors, and cart-based vendors selling food, vegetables, handicrafts, or other items without a fixed shop.
2What is the interest rate and repayment period for the loan?
The loan carries a 7% annual interest rate with a repayment period of 12 months. Borrowers who repay on time receive an additional 1% cashback from the government, effectively reducing the net interest rate to 6%.
3How can I apply for PM SVANidhi?
You can apply online through the official portal pmsvanidhi.mohua.gov.in or visit your nearest bank branch. You need to provide basic identification documents like Aadhaar, bank account details, and proof of being a street vendor. The process is simple and designed for vendors with minimal documentation.
4Is collateral or guarantor required for this loan?
No, this is a collateral-free loan scheme. You do not need to provide security or a guarantor. The loan is extended based on your identity verification and vendor status alone, making it accessible to street vendors.
5Can I increase my loan amount after repayment?
Yes, after successfully repaying your initial loan of Rs. 10,000, you can apply for an additional loan of up to Rs. 10,000, taking your total loan to Rs. 20,000. This increase is granted based on your repayment track record.
📖 Read the Complete Guide
Get a detailed step-by-step walkthrough with tips, common mistakes to avoid, and expert guidance for PM SVANidhi - Pradhan Mantri Street Vendor's AtmaNirbhar Nidhi.
Read Full Guide →🔗Related Business & Livelihood Schemes