PM Svanidhi - Get business & Product Information
PM Svanidhi
The scheme is a Central Sector Scheme i.e., fully funded by Ministry of Housing and Urban Affairs with the following objectives:
(i) To facilitate working capital loan up to Rs 10,000 to Rs 50,000.
(ii) To incentivize regular repayment.
(iii) To reward digital transactions
The scheme will help formalize the street vendors with above objectives and will open up new opportunities to this sector to move up the economic ladder
Features
- Loan Amount / Tenure of loan
- 1st term – Max Rs 10,000 / Max 12 Months
- 2nd term - max Rs 20,000 / Max 18 Months
- Interest Rate: EBLR + 3.25%: 9.90%
- Collateral free loan.
Eligibility
The Scheme is available to all street vendors engaged in vending in urban areas. The eligible vendors will be identified as per following criteria:
- (Street vendors in possession of Certificate of Vending / Identity Card issued by Urban Local Bodies (ULBs);
- The vendors, who have been identified in the survey but have not been issued Certificate of Vending / Identity Card.
- Street Vendors, left out of the ULB led identification survey or who have started vending after completion of the survey and have been issued Letter of Recommendation (LoR) to that effect by the ULB / Town Vending Committee (TVC); and
- The vendors of surrounding development/ peri-urban / rural areas vending in the geographical limits of the ULBs and have been issued Letter of Recommendation (LoR) to that effect by the ULB / TVC.
Document Required
Applicants should have applied through PM SVANidhi Portal.
- Documents: DP Note /DP Take Delivery letter
- Interest Subvention: The vendors, availing loan under the scheme, are eligible to get an interest subsidy @ 7%. This is applicable for only prompt repayment customers.
- Credit Guarantee: The Scheme has a provision of Graded Guarantee Cover for the loans sanctioned, administered by Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), which will be operated on portfolio basis. No CG fee is required to be paid by Street Vendor/ Banks.
For more details, please visit
https://pmsvanidhi.mohua.gov.in/ and nearest SBI branch.
Last Updated On : Saturday, 17-06-2023
Interest Rates
2.70% p.a.
less than Rs.10 Cr. w.e.f 15.10.22
3.00% p.a.
Rs.10 Cr. and above w.e.f 15.10.22
2.70% p.a.
Balance below Rs. 10 crs
3.00% p.a.
Balance Rs. 10 crores and above
Agri-products-landing
Criteria
- Features
- Eligibility
- Terms and Conditions
Interest Rates
2.70% p.a.
less than Rs.10 Cr. w.e.f 15.10.22
3.00% p.a.
Rs.10 Cr. and above w.e.f 15.10.22
2.70% p.a.
Balance below Rs. 10 crs
3.00% p.a.
Balance Rs. 10 crores and above