About Government Schemes Loans
Loanpao facilitates Government Schemes Loans in Delhi, India, to support small businesses, entrepreneurs, and individuals. These loans, backed by government initiatives like PM SVANidhi and MUDRA, offer affordable rates, easy eligibility, and quick disbursal.
Why Choose Government Schemes Loans?
- Interest Rates starting at 8.0% p.a.
- Loan Amount from ₹10,000 to ₹10 Lakh
- Flexible Tenure up to 5 Years
- Collateral: Not required
- Approval within 5-7 business days
- Minimal documentation
- Special benefits for women and rural entrepreneurs
- Subsidies and interest subvention available
Are You Eligible?
| Criteria | Requirement |
|---|---|
| Applicant Type | Small business owners, street vendors, or entrepreneurs |
| Business Vintage | Minimum 6 months of operations |
| Annual Turnover | Up to ₹1.5 Crore (for MUDRA Loans) |
| Credit History | No major defaults; credit score 650+ preferred |
What Documents Do You Need?
- KYC: Aadhaar / PAN / Voter ID
- Business Proof: Shop & Establishment license, Udyam registration
- Bank Statements: Latest 6 months
- Scheme-Specific Docs: PM SVANidhi ID, MUDRA application form
Attractive Interest Rates & Affordable Fees
| Scheme/Bank | Interest Rate | Processing Fee |
|---|---|---|
| PM SVANidhi (SBI) | 7.0% p.a. | Nil |
| MUDRA Shishu (HDFC Bank) | 8.0% p.a. | 0.25% or ₹2,500 |
| MUDRA Kishore (ICICI Bank) | 8.5% p.a. | 0.5% or ₹5,000 |
| MUDRA Tarun (Axis Bank) | 9.0% p.a. | 0.5% or ₹5,000 |
| PM SVANidhi (Kotak Mahindra) | 7.5% p.a. | Nil |
| MUDRA Shishu (Bank of Baroda) | 8.25% p.a. | 0.25% or ₹2,500 |
| MUDRA Kishore (Union Bank) | 8.75% p.a. | 0.5% or ₹5,000 |
| MUDRA Tarun (PNB) | 9.25% p.a. | 0.5% or ₹5,000 |
| PM SVANidhi (IDFC FIRST) | 7.25% p.a. | Nil |
| MUDRA Shishu (Yes Bank) | 8.5% p.a. | 0.25% or ₹2,500 |
| NBFCs | 10.0% p.a. | 1.0% or ₹10,000 |
| Co-operative Banks | 8.0% p.a. | 0.25% or ₹2,500 |
Extra Charges:
- Late Payment Charges: 1% p.m. on overdue amount
- Prepayment Charges: Nil
- GST: Applicable on processing fees
Note: Rates and fees are indicative as of April 2025 and subject to change.
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How to Apply for a Government Schemes Loan
- Choose the scheme (e.g., PM SVANidhi, MUDRA) and complete the online application.
- Submit KYC, business proof, and scheme-specific documents.
- Undergo verification of business and eligibility.
- Review and accept the loan offer.
- Complete any additional formalities as per the scheme.
- Receive funds within 5-7 business days.
Common Questions About Government Schemes Loans
What are Government Schemes Loans?
These are loans backed by government initiatives like PM SVANidhi and MUDRA to support small businesses and entrepreneurs.
Who can apply for these loans?
Small business owners, street vendors, and entrepreneurs with at least 6 months of operations.
What is the maximum loan amount?
Up to ₹10 Lakh, depending on the scheme (e.g., MUDRA Tarun).
How long does approval take?
Approval takes 5-7 business days after verification.
Can I prepay the loan?
Yes, prepayment is allowed with no charges.
Is collateral required?
No, most government schemes do not require collateral.
What is the repayment tenure?
Up to 5 years, with flexible repayment options.
Are there special benefits?
Yes, subsidies, interest subvention, and benefits for women and rural entrepreneurs.
What documents are needed?
KYC, business proof, bank statements, and scheme-specific documents.
How does it affect my credit?
Timely repayment improves your credit score, while defaults may impact future loan eligibility.