PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi)
Ministry: Ministry Of Housing & Urban Affairs
PM SVANidhi is a micro-credit scheme launched on 1st June 2020 by the MoHUA to provide handholding support to street vendors. The scheme facilitates a working capital collateral-free loan of ₹10,000, with subsequent loans of ₹20,000 and ₹50,000 with a 7% interest subsidy.
About This Scheme
Benefits
> Working Capital Loan:
₹15.0K
1st Tranche: Loan up to ₹15,000/-; repayment within 12 months. - 2nd Tranche: Loan up to ₹25,000/-; repayment within 18 months. - 3rd Tranche: Loan up to ₹50,000/-; repayment within 36 months. - Next tranche available on timely or early repayment.
No prepayment penalty on early repayment.
> Interest Subsidy:
Subsidy at 7% per annum on loan amount.
Credited quarterly to beneficiary’s bank account.
Applicable only for standard (non-NPA) accounts.
Valid up to 31st March 2033.
> Digital Transaction Cashback:
₹100 · monthly
Cashback up to ₹100/- per month for digital transactions.
> Credit Guarantee Support:
31.87% guarantee cover for 1st tranche loan.
8.25% guarantee cover for 2nd tranche loan.
6% guarantee cover for 3rd tranche loan.
No charges for lending institutions.
> UPI Linked RuPay Credit Card:
₹10.0K
Initial credit limit of ₹10,000/-; extendable up to ₹30,000/-.
Validity of 5 years.
Available after successful repayment of 2nd tranche loan.
Eligibility
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Required Documents
- ✦> For 1st Loan :
- ✦For Category A and B vendors:
- ✦Certificate of Vending
- ✦Identity Card
- ✦For Category C and D vendors:
- ✦Letter of Recommendation
- ✦> KYC documents required in addition to CoV/ID/LoR :
- ✦Aadhaar Card
- ✦Voter Identity Card
- ✦Driving License
- ✦MNREGA Card
- ✦PAN Card
- ✦> For Letter of Recommendation :
- ✦Copy of Account Statement/Passbook
- ✦Copy of Membership Card/any other proof of membership
- ✦Any other document to substantiate the claim as a vendor
- ✦Request letter to ULB
- ✦> For Second Loan
- ✦Loan Closure Document
✦ Required ◦ Optional
How to Apply
For any kind of clarification and access detailed stepwise process, refer User Manual . For any query one can call on the toll free number i.e 1800111979 between 9.30 AM to 6.00 PM on Monday to Saturday except national holidays. Contact Details: Click here .
Apply here ↗Quick Info
- Level
- Central Government
- Max benefit
- ₹15.0K
- Launched
- 1 Jun 2020
