About PM SVANidhi Loan
The PM SVANidhi Loan, under the Government of India’s scheme, provides collateral-free working capital loans to street vendors in Delhi, India, to support their businesses. Loanpao facilitates access to loans up to ₹50,000 in three tranches (₹10,000, ₹20,000, ₹50,000) with low interest rates and incentives like cashback for digital payments.
Why Choose Loanpao?
- Loan amounts up to ₹50,000 in phased tranches
- Subsidized interest rate of 7% p.a.
- Collateral-free loan with no guarantor required
- Disbursal within 7–10 days
- 7% cashback on digital transactions
- Flexible repayment tenure up to 36 months
- Assistance with application and documentation
- Support for availing government subsidies
Eligibility Criteria
| Criteria | Requirement |
|---|---|
| Applicant Type | Street vendors (urban areas) |
| Age | 18 years and above |
| Business Type | Vending certificate or ULB identification |
| Loan Stage | ₹10,000 (1st), ₹20,000 (2nd), ₹50,000 (3rd) |
| Repayment History | Good repayment for subsequent tranches |
Documents Required
- KYC: Aadhaar card, voter ID, or PAN card
- Vending Proof: Certificate from Urban Local Body (ULB) or vendor ID
- Bank Details: Passbook or cancelled cheque
- Photograph: Recent passport-size photo
- Loan Application: Duly filled PM SVANidhi form
- Repayment Proof: For 2nd and 3rd tranches
Loan Details
| Tranche | Loan Amount | Interest Rate | Tenure |
|---|---|---|---|
| First Tranche | ₹10,000 | 7% p.a. | Up to 12 months |
| Second Tranche | ₹20,000 | 7% p.a. | Up to 24 months |
| Third Tranche | ₹50,000 | 7% p.a. | Up to 36 months |
Calculate Your EMI
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How to Apply
- Submit an online application via Loanpao with personal and vending details.
- Provide KYC, vending certificate, and bank details.
- Get verified by Urban Local Body (ULB) through Loanpao’s assistance.
- Receive loan approval and disbursal within 7–10 days.
- Repay on time to unlock higher tranches and cashback benefits.
Frequently Asked Questions
PM SVANidhi is a government scheme offering collateral-free working capital loans to street vendors to support their business operations.
Street vendors aged 18+ with a vending certificate or ULB identification in urban areas are eligible.
The scheme offers ₹10,000 (1st tranche), ₹20,000 (2nd tranche), and ₹50,000 (3rd tranche), based on repayment history.
No, PM SVANidhi Loans are collateral-free and do not require a guarantor.
The interest rate is subsidized at 7% p.a., with additional benefits like cashback for digital payments.
Repayment tenure varies: up to 12 months (₹10,000), 24 months (₹20,000), and 36 months (₹50,000).
Vendors receive 7% cashback on digital transactions, encouraging digital payments.
Loan disbursal typically occurs within 7–10 days after verification by the Urban Local Body.
Yes, after timely repayment of the previous tranche, you can apply for the next tranche (₹20,000 or ₹50,000).
Missing repayments may disqualify you from subsequent tranches and cashback benefits. Contact your lender for assistance.