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PM Svanidhi Yojana: Get a loan of up to Rs 1 lakh without guarantee, know the special features of PM Svanidhi Yojana

PM Svanidhi Yojana: Under the Pradhan Mantri Svanidhi Yojana, street vendors and small businessmen get a loan of up to Rs 1 lakh without guarantee. Only Aadhar card is required for application, and the loan is given in three installments.

Published: January 3, 2025 8:48 AM IST

By Manoj Yadav

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PM Svanidhi Yojana: The government has started a great scheme to promote small traders and self-employment in the country. The name of this scheme is Pradhan Mantri Street Vendors Atmanirbhar Nidhi (PM Svanidhi Yojana) . This scheme, which started during the Corona period, is still helping millions of people. The special thing is that under this you get a loan without guarantee. Come, let's know every important information related to this scheme.

What is PM Swanidhi Yojana?

This scheme is for those people who want to start their small business or want to expand their existing work. Especially street vendors, small shopkeepers, handcart owners and other small entrepreneurs get its benefit.

Loan is available without guarantee

Under the PM Swanidhi scheme, a loan of up to Rs 1 lakh is available. This loan is given in three phases:

• First installment: Rs 10,000
• 2nd installment: Rs 20,000
• Third installment: Rs 50,000

You will be eligible for the second installment only if you repay the first installment loan on time. Similarly, you will get the benefit of the third installment only after repaying the second installment.

How to apply?

It is very easy to apply for this scheme. You will only need an Aadhaar card. No other documents are required. You can apply through the nearest bank branch or online.

How to repay the loan

You can repay the loan taken under this scheme through monthly installments. It is important to note that the entire loan amount has to be repaid within 12 months.

Benefits of the scheme

Loan without guarantee: No need for any kind of asset or guarantor.
Easy process: Less paperwork and faster approval.
Promotion to small businessmen: Great opportunity to start your own business.
Benefit on timely repayment: Beneficiaries who repay the installments on time easily get the next stage loan.

Who can avail the benefit of the scheme?

• hawkers
• Small shopkeepers
• thela wala
• Other small business owners

Opportunity to start your own business

PM Swanidhi Yojana not only provides financial assistance, but also gives small businessmen an opportunity to become self-reliant. If you too are dreaming of starting your own business, then definitely take advantage of this scheme.