PM SVANidhi Yojana, short for Pradhan Mantri Street Vendor’s AtmaNirbhar Nidhi, is an important government scheme to help street vendors all over India. This scheme supports you with loans so you can restart or expand your small street business easily, especially after tough times like the COVID-19 pandemic.
Overview of PM SVANidhi Yojana
This is a government scheme fully funded by the Ministry of Housing and Urban Affairs. It gives working capital loans up to 7,000 initially, helping street vendors manage their daily business needs. Along with loans, it promotes timely loan repayments and rewards digital payments to make your business easier and safer.
What Does PM SVANidhi Yojana Offer?
- Simple loans up to 7,000 for new borrowers, which can increase to 20,000 and then 5,000 when you repay on time.
- 7% interest subsidy if you repay your loan on schedule.
- A loan repayment period of 12 months with monthly payments to keep things easy.
- Cashback rewards up to 1,200 yearly if you use digital payment methods for your business.
- Helps you build a better credit score for higher loans later.
Who Can Apply for PM SVANidhi Yojana?
- You must be a street vendor working in urban or semi-urban areas before March 24, 2020.
- You need a Certificate of Vending or an Identity Card from your local Urban Local Body (ULB).
- If you don17t have these, ULBs can help issue provisional certificates through an online system.
- Vendors who started after the survey but have a Letter of Recommendation from ULB or Town Vending Committee can also apply.
- Vendors from nearby rural or peri-urban areas vending within city limits with the right documents are also eligible.
How PM SVANidhi Yojana Helps You
- Financial Support: You get official loans to grow your street business.
- Better Credit Score: Timely payments improve your credit, unlocking more funds in the future.
- Digital Payments: Encourages you to use online payments and rewards you for it.
How to Apply for PM SVANidhi 2025?
You can apply online easily from your home or through Common Service Centres (CSCs). Here17s how:
- Go to the official PM SVANidhi website at pmsvanidhi.mohua.gov.in.
- Register your details with your mobile number and Aadhaar or ID as needed.
- Fill in the loan application form and upload documents like your vending certificate.
- Submit the form and wait for approval.
Check Your PM SVANidhi Loan Status Online
- Visit the PM SVANidhi official portal.
- Use the “Login” option with your registered mobile number and OTP verification.
- Go to the “Application Status” section.
- Enter your Loan Application ID or other required details.
- You will see your loan status, like whether it17s approved, being processed, or disbursed.
Interest Rate Details
If you take a loan from banks like Scheduled Commercial Banks, Regional Rural Banks, Small Finance Banks, or Cooperative Banks, the interest rate charged will be their usual rate. For Non-Banking Financial Companies (NBFCs) and NBFC-MFIs, interest rates follow RBI guidelines to keep lending fair.
Important Notes about PM SVANidhi Yojana
- More than 25 lakh loans have already been given to street vendors through this scheme, showing how much it helps.
- The scheme has been extended until December 2024 to support more vendors like you.
- The program is run by Urban Local Bodies, Municipal Corporations, and banks or microfinance institutions to make sure you get the help you need quickly.
If you run a street vending business and want financial support to grow your business, PM SVANidhi Yojana in 2025 is a great chance. Visit the official website to apply or check your loan status anytime.