PM SVANidhi Loan Overview
The Pradhan Mantri Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) loan is a government-backed micro-credit scheme launched in June 2020 by the Ministry of Housing and Urban Affairs (MoHUA) to support street vendors affected by the COVID-19 pandemic. It offers collateral-free loans up to ₹50,000 with a 7% interest subsidy for timely repayments and up to ₹1,200 annual cashback for digital transactions. LoanPao partners with 500+ RBI-compliant lenders to provide seamless access to PM SVANidhi loans with interest rates of 8%–24% p.a. and tenures from 6 to 36 months. Apply online via the Apply Now or our platform for approvals within 30 days. Use our EMI Calculator to plan repayments or explore related schemes like MUDRA Loan or Business Loan. Contact us at +91-971-769-5334 for guidance.
[](https://web.umang.gov.in/landing/department/pm-svanidhi.html)[](https://www.bajajfinservmarkets.in/resources/govt-business-schemes/pm-svanidhi-scheme)[](https://cleartax.in/s/pm-svanidhi-scheme)Our platform simplifies the PM SVANidhi loan process, offering expert support for street vendors. Check your eligibility instantly with our eligibility tool or learn more about micro-financing with our Microfinance Rural Business.
Key Benefits of PM SVANidhi Loans
Up to ₹50,000
Collateral-free loans in three tranches (₹10,000, ₹20,000, ₹50,000).
7% Interest Subsidy
Quarterly subsidy for timely repayments, reducing borrowing costs.
Digital Incentives
Earn up to ₹1,200 annual cashback for digital transactions.
Online Application
Apply via the PM SVANidhi app or portal with e-KYC.
Trusted Lenders
Partnered with banks, NBFCs, and MFIs for fast processing.
No Prepayment Penalty
Repay early without additional charges.
Eligibility Criteria for PM SVANidhi Loans
PM SVANidhi loans are available to street vendors in urban areas vending on or before March 24, 2020. Check your eligibility with our eligibility tool.
[](https://cleartax.in/s/pm-svanidhi-scheme)[](https://sbi.co.in/web/get-business-product-information/pm-svanidhi)| Criteria | Details |
|---|---|
| Applicant Type | Street vendors in urban areas |
| Vending Status | Vending on or before March 24, 2020 |
| Identification | Certificate of Vending, Identity Card, or Letter of Recommendation from ULBs |
| Location | States/UTs with notified Street Vendors Act, 2014 (including Meghalaya) |
| Aadhaar | Mobile number linked to Aadhaar for OTP verification |
| Other Loans | No existing loans for the same purpose from other institutions |
Contact info@loanpao.in for assistance with eligibility requirements.
Documents Required for PM SVANidhi Loans
Ensure the following documents are ready to expedite your PM SVANidhi loan application:
- Aadhaar Card: Linked to mobile number for OTP verification
- Voter ID: Or other KYC documents like Driving License or MGNREGA card
- Certificate of Vending: Issued by Urban Local Bodies (ULBs)
- Letter of Recommendation: If no Certificate of Vending, issued by ULB/TVC
- Bank Account Details: For loan disbursement and subsidy
Loan Amount and Subsidy Details
PM SVANidhi loans are offered in three tranches with flexible tenures and subsidies. Use our EMI Calculator to plan repayments.
| Tranche | Loan Amount | Tenure | Interest Subsidy |
|---|---|---|---|
| First Tranche | ₹5,000–₹10,000 | 6–12 months | 7% p.a. on timely repayment |
| Second Tranche | ₹15,000–₹20,000 | 6–18 months | 7% p.a. on timely repayment |
| Third Tranche | ₹30,000–₹50,000 | Up to 36 months | 7% p.a. on timely repayment |
Note: Interest rates range from 8%–24% p.a. based on lender policies. Subsidies are credited quarterly until March 2028. No processing fees or prepayment penalties apply.
[](https://www.bajajfinservmarkets.in/resources/govt-business-schemes/pm-svanidhi-scheme)[](https://play.google.com/store/apps/details?id=com.mohua.pmsvanidhi_v2&hl=en_IN)How to Apply for a PM SVANidhi Loan
Applying for a PM SVANidhi loan with LoanPao or the official portal is simple and efficient. Follow these steps:
- Visit loanpao.in or our application form below and select loan amount (₹10K, ₹20K, or ₹50K).
- Complete OTP-based Aadhaar verification and upload KYC documents.
- Receive loan approval within 30 days and funds disbursed to your bank account.
Alternatively, approach a Banking Correspondent or Micro Finance Institution agent listed with your ULB. Start your application now or contact our team at +91-971-769-5334 for expert guidance.
[](https://www.bajajfinservmarkets.in/resources/govt-business-schemes/pm-svanidhi-scheme)[](https://cleartax.in/s/pm-svanidhi-scheme)Why Choose LoanPao for PM SVANidhi Loans?
LoanPao is your trusted partner for PM SVANidhi loans due to our expertise and customer-centric approach:
Extensive Lender Network
Access offers from 500+ RBI-compliant lenders for the best PM SVANidhi loan deals.
EMI Calculator
Plan repayments with our EMI Calculator.
24/7 Support
Contact us anytime at +91-971-769-5334.
Tips for a Successful PM SVANidhi Loan Application
Maximize your approval chances with these expert tips:
- Ensure your mobile number is linked to your Aadhaar for OTP verification.
- Obtain a Certificate of Vending or Letter of Recommendation from your ULB.
- Use the PM SVANidhi app for real-time application status tracking.
- Adopt digital payments to earn up to ₹1,200 annual cashback.
- Compare lenders on our loan comparison page for the best rates.