PM Vishwakarma Loan
The PM Vishwakarma Scheme is a Central Sector initiative by the Government of India, fully funded and implemented by MoMSME, MSDE, and DFS. It aims to support traditional artisans and craftspeople—known as Vishwakarmas—by enhancing their skills, tools, and market access. The scheme offers end-to-end support including training, modern equipment, financial aid, and digital empowerment. Its goal is to improve the quality and reach of their products and integrate them into domestic and global value chains, promoting self-reliance and preserving India’s rich artisanal heritage
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Ticket Size
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1st Loan Cycle Amount: Up to 1,00,000; Maximum Loan period: 18 months.
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2nd Loan Cycle Amount: Up to 2,00,000; Maximum Loan period: 18 months and 30 months.
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Collateral free loan
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No Co-Borrower required
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No Pre-Payment charges
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Must be an artisan or craftsperson working with hands and tools in a family-based traditional trade.
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Should be self-employed in the unorganized sector.
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Must be at least 18 years old on the date of registration.
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Must be actively engaged in the trade at the time of registration.
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However, the beneficiaries of MUDRA and SVANidhi who have repaid their loan, will be eligible under PM Vishwakarma.
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Only one member per family (defined as husband, wife, and unmarried children) can register.
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Government employees and their family members are not eligible.
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Processing Fees: Not Applicable.
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Interest Rate: Beneficiaries will pay 5% interest, with 8% subvention provided upfront by the Government to banks.
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Security Deposit: NIL.
Apply to PM Vishwakarma Loan
Loan calculator
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Interest Rate 8.00% |
Interest Earned 3,50,452 |
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Maturity Value 13,50,452 |
Maturity Date 20 Apr 2023 |
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(Indicative interest rates for calculation only. click here for latest rates.) |
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FAQs
PM Vishwakarma is a Central Sector Scheme launched by the Ministry of Micro, Small and Medium Enterprises to provide holistic and end-to-end support to artisans and craftspeople through:
Access to collateral-free credit
Skill training
Modern tools
Incentive for digital transactions
Market linkage support.
Artisans and craftspeople who are engaged in the 18 trades as mentioned in the Guidelines are eligible.
Working capital loans up to ₹2 lakh in two tranches—₹1 lakh in the first and ₹2 lakh in the second—without any collateral
The loan tenure ranges from 18 to 30 months, depending on the tranche and terms.
No, the loan is collateral-free.
Applications can be submitted online via the official portal: pmvishwakarma.gov.in
Yes, as long as they belong to one of the eligible trades and meet the criteria.
Applicants must be at least 18 years old.
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