PM SVANidhi Loan

The Pradhan Mantri Street Vendor's Atma Nirbhar Nidhi (PM SVANidhi) is a special micro credit loan facility launched by the Ministry of Housing and Urban Affairs (MoHUA) on June 01, 2020, with the aim of providing affordable working capital loan to the street vendors whose livelihood had been adversely impacted due to the covid-19 pandemic and subsequent lockdown. The Product aims to provide micro credit loan ranging from 10,000 during the first loan cycle to 50,000 in the third loan cycle, in a bid to empower the livelihood support requirement of street vendors. The scheme also aims to incentivize regular repayment through Interest subsidy of 7% per annum and promote digital transactions by vendors through cash back facility.

PM SVANidhi Scheme is available till December, 2024. Interest Subsidy claims on all loans will be paid till March, 2028.




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15% discount

1 reward point on every 100 spends on debit card




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  • Ticket Size

    1. 1st Loan Cycle Amount: Up to 10,000; Maximum Loan period: 12 months.

    2. 2nd Loan Cycle Amount: Up to 20,000; Maximum Loan period: 18 months.

    3. 3rd Loan Cycle Amount: Up to 50,000; Maximum Loan period: 36 months.

  • Cash Back incentives: Upto 1,200/- Annually.

  • Interest Subsidy: 7% P.A

  • Collateral free loan

  • No Co-Borrower required.

  • No Pre-Payment charges.

**Note: The benefits of Interest Subsidy & Cashback will be provided to the eligible Street Vendors by the Government of India, based on certain criteria.
  • 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).

    • 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.

  • Minimum repayment period of 6 months for subsequent loans, to be eligible for the next cycle of loan with an enhanced limit. If the Street Vendor repays the loan earlier, (S)he would have to wait till the minimum repayment period fixed for the loan, before (S)he is eligible for next higher loan.

  • Clients who have availed loans from any other financial institutions for the same purpose are not eligible.

  • Maximum cap of 50% of monthly household income. Which shall include repayments (including both principal as well as interest component) towards all existing loans as well as the loan under consideration.

  • Age Limit of Applicant:

    • Minimum: 18 Years (at the time of entry)

    • Maximum: 60 Years (at the of loan closure)

  • Processing Fees: Not Applicable.

  • Interest Rate: Fixed during the loan tenure with 15% per annum diminishing.

  • Security Deposit: NIL.

Apply to PM SVANidhi Loan

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Amount ()

1 Lac

10 Cr

Tenure ( )

1 Month


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Maturity Date

20 Apr 2023

(Indicative interest rates for calculation only. click here for latest rates.)


This is a Central Sector Scheme to facilitate street vendors to access affordable working capital loan for resuming their livelihoods activities, after easing of lockdown.

The COVID-19 pandemic and consequent lockdowns have adversely impacted the livelihoods of street vendors. They usually work with a small capital base, which they might have consumed during the lockdown. Therefore, credit for working capital to street vendors will be helpful to resume their livelihoods.

[i] To facilitate working capital loan upto
  • 10,000 during 1st Loan cycle,
  • 20,000 during 2nd Loan cycle
  • 50,000 during the 3rd loan cycle at subsidized rate of interest;

[ii] To incentivize regular repayment of loan through interest subsidy @ 7% per annum.

[iii] To reward digital transactions through cashback incentive.

[iv] Higher loan eligibility on timely repayment of the first loan.

Street vendors/ hawkers vending in urban areas, including the vendors of surrounding peri-urban and rural areas.

Any person engaged in vending of articles, goods, wares, food items or merchandise of daily use or offering services to the public in a street, footpath, pavement etc., from a temporary built up structure or by moving from place to place. The goods supplied by them include vegetables, fruits, ready-to-eat street food, tea, pakodas, breads, eggs, textile, apparel, artisan products, books/ stationary etc. and the services include barber shops, cobblers, pan shops, laundry services etc.

Scheduled Commercial Banks, Regional Rural Banks, Small Finance Banks, Cooperative Banks, Non-Banking Financial Companies, Micro-Finance Institutions.

The Scheme shall be available till December 2024. Interest Subsidy claims on all loans will be paid till March 2028.

The Initial working capital loan is upto 10,000/- for a tenure of one year. Clients are eligible for higher ticket size loan with a longer tenure during subsequent cycle on timely repayment of their previous loan.

You can approach a Banking Correspondent [BC]/ Agent of Micro Finance Institution [MFI] in your area [ULBs will have the list of these persons]. They will help you in filling up the application and upload the documents in a Mobile App/ Portal. You can also apply directly though the PM SVANidhi website. Link to the website is also present in the PM SVANidhi webpage on the Utkarsh Bank Portal.

You can access this information on the website of PM SVANidhi [].

Yes, you can still avail the Scheme benefits. A Provisional Certificate of Vending would be issued to vendors through an IT based Platform. The BC/ Agent will help you in filling up the application and upload the documents in a mobile App/ Portal.

The Scheme is available to vendors of surrounding development/ peri-urban/ rural areas vending in the geographical limits of the cities/ towns and those left out of the survey. If you belong to this category you have to produce one of the following documents to obtain the Letter of Recommendation from ULB/TVC: [i] Proof of availing one -time assistance, provided by certain States /UTs, during the period of lockdown; or [ii] Documents of past loan taken from a bank/ NBFC/ MFI for the purpose of vending; or [iii] The membership details with the vendors' associations; or [iv] Any other documents to prove that you are a vendor; You can also request ULB through a simple application on white paper to conduct local enquiry to ascertain the genuineness of your claim. After receipt of LoR, you may approach BC/ Agent to apply for the loan.

I. Aadhar Card* II. Voter Identity Card* III. Driving License IV. MNREGA Card V. PAN Card. *Mandatory

Beneficiaries availing loans under the Scheme are eligible to get an Interest Subsidy @7% for all the loans i.e 1st,2nd and 3rd loans. Interest Subsidy claims will be paid only for Standard accounts [non-NPA as per extant RBI guidelines] on the respective claim dates and only for the period during which the account has remained Standard. Interest Subsidy claims to be paid on half-yearly basis. Accordingly, USFB will submit half-yearly claims for interest Subsidy as on June 30 and December 31 of each Year. However, interest subsidy claims for the period ending on June 30,2022 would be filed on quarterly basis. In case of early payment, the admissible amount of subsidy will be credited in one go. E.g: For a loan of 10,000, if you pay all the 12 EMIs in time, you will get approximately 402 as interest subsidy amount.

No collateral security is required.

The on-boarded vendors would be provided with a monthly cashback in the range of 50 - 100 as per the following criteria: [i] Eligible Digital Transaction [ETD] to be a digital transaction of any value; [ii] Rs.1 Cashback per EDT till the First 50 EDTs; [iii] Rs.0.50 per EDT for the next 50 EDTs and [iii] Rs.0.25 per EDT for next 100 EDTs. Clients are eligible for a maximum cashback of 1,200 per annum.

The Lending institution providing you loan will approach you to onboard, provide digital training and help in conducting penny drop transactions. You will also be provided with a debit card and a QR code.

No, there is no incentives on timely/ early repayment of loan, but the street vendor becomes eligible for interest subsidy and also avail a higher tranche of loan in subsequent cycle subjected to fulfilling the minimum eligibility criteria.

There is no penalty for pre-closure of the loan.

You may meet a member of SHG or ALF or CLF or call toll free number @ 1800 11 1979, alternatively, you can also apply for the loan through the PM SVANidhi Website.

Complete process will be automated through a Mobile App and Web Portal. You will be able to check real time status of your application. Whole process, if paper/ information is complete, may take less than 30 days.

  1. In case of any grievance, you may call the toll the toll free number or contact the following officer in the Ministry:
  2. Director [NULM], Room no. 334-C, Ministry of Housing & Urban Affairs, Nirman Bhawan, Maulana Azad Road, New Delhi – 110011. e-Mail: [email protected] Tel: 011-23062850.


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