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Who is eligible for a PM SVANidhi loan?

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PM SVANidhi Loan: Collateral-free loan for street vendors to grow their businesses.

What is PM SVANidhi Loan?

The PM Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) Scheme is a micro-credit scheme launched by the Government of India in June 2020 to provide affordable working capital loans to street vendors. The scheme aims to empower street vendors and help them formalize their businesses.

Under the PM SVANidhi Scheme, individuals who are street vendors can get a working capital loan of up to Rs. 10,000 at a concessional interest rate of 7% per annum. The loan can be repaid monthly over a period of 12 months.

Am I eligible for PM SVANidhi Loan?

To be eligible for a PM SVANidhi Loan, you must meet the following criteria:

  • You must be a street vendor.
  • You must have a valid vending certificate issued by the local urban local body (ULB).
  • You must have been vending for at least 6 months.
  • Your annual income should not exceed Rs. 1,20,000.

How to apply for a PM SVANidhi Loan?

To apply for a PM SVANidhi Loan, you can contact any of the following lending institutions:

  • Banks
  • Non-banking financial companies (NBFCs)
  • Microfinance institutions (MFIs)

You can also apply for a PM SVANidhi Loan online through the official website of the Ministry of Housing and Urban Affairs (MoHUA).

Documents required for PM SVANidhi Loan application:

  • Valid vending certificate
  • Identity proof (Aadhaar card, voter ID card, driving license, etc.)
  • Address proof (utility bills, passport, etc.)
  • Income proof (bank statements, income tax returns, etc.)

Benefits of PM SVANidhi Loan

Collateral-free loanYou do not need to pledge any assets to secure the loan.
Competitive interest rateThe interest rate on the loan is 7% per annum, which is lower than the interest rates charged by traditional moneylenders.
Flexible repayment termsThe loan is repayable in monthly installments over a period of 12 months.
No prepayment penaltyYou can prepay the loan without having to pay any penalty.


The PM SVANidhi Loan is a great way for street vendors to access affordable working capital loans and grow their businesses. If you are a street vendor and you meet the eligibility criteria, you must apply for a PM SVANidhi Loan.