PM SVANidhi Yojana 2026

Collateral-Free Loan up to ₹50,000 for Street Vendors + 7% Interest Subsidy.

📢 Latest Update: The PM SVANidhi scheme has been extended till March 2030. Now, vendors using digital transactions can earn up to ₹1,200 Cashback per year.

What is PM SVANidhi Scheme?

The PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) is a Central Sector Scheme launched by the Ministry of Housing and Urban Affairs. It provides affordable working capital loans to street vendors to resume their livelihoods affected by the pandemic.

It is a unique scheme where you do not need to mortgage anything (Collateral-Free) to get a loan.

💸 Loan Amount & Tranches

Loan Cycle	Amount	Repayment Tenure
1st Loan	₹ 10,000	12 Months
2nd Loan	₹ 20,000	18 Months
3rd Loan	₹ 50,000	36 Months

Note: You are eligible for the 2nd loan only after repaying the 1st loan, and the 3rd loan after repaying the 2nd loan.

🎯 Key Benefits

Interest Subsidy: Get 7% subsidy on timely repayment. The amount is directly credited to your bank account quarterly.
Cashback: Earn ₹50 – ₹100 per month by accepting payments via QR Code/UPI.
No Penalty: No penalty for early repayment of the loan.
Digital Record: Helps in building a CIBIL score for future big loans.

📋 Eligibility Criteria

You can apply if you fall into any of these categories:

Street Vendors in possession of a Certificate of Vending (CoV) or Identity Card issued by Urban Local Bodies (ULBs).
Vendors identified in the survey but not issued a Certificate yet.
Vendors who started vending after the survey but have a Letter of Recommendation (LoR) from the ULB/TVC.

📄 Documents Required

Aadhaar Card (Must be linked to Mobile Number)
Voter ID Card or Driving License
Bank Passbook copy
Vending Certificate or LoR (Letter of Recommendation)

🚀 How to Apply Online (Step-by-Step)

Follow these steps to fill the application form on the official portal:

Visit the official website: pmsvanidhi.mohua.gov.in.
Click on “Apply for Loan”.
Enter your Mobile Number and verify with OTP.
Select your vendor category (e.g., C, D).
Fill in the application form and upload your Aadhaar/LoR.
Select your preferred lender (Bank) from the list.
Submit the form. You will get an Application Reference Number.

🔍 How to Check Application Status

If you have already applied, you can track your loan status easily:

1. Go to the Official Portal.
2. Click on “Know Your Application Status”.
3. Enter your Application ID or Mobile Number.
4. Your loan approval stage will be displayed on the screen.

❓ Frequently Asked Questions (FAQs)

Q1: Can I get ₹50,000 loan directly?

No. You must first take and repay the ₹10,000 loan, then the ₹20,000 loan, to be eligible for ₹50,000.

Q2: Is CIBIL score required?

No, this scheme is specifically for vendors who may not have a credit history. In fact, repaying this loan builds your CIBIL score.

Q3: How to get the Letter of Recommendation (LoR)?

You can request an LoR from your local Municipality (ULB) or Town Vending Committee (TVC) by submitting a simple application with proof of your vending (like past challans or membership in vendor associations).

Looking for other loans? Check our guide on PM Mudra Yojana or PM Vishwakarma Yojana.