PM Svanidhi Yojana get a loan of lakhs without guarantee in two years, you can also avail the benefit

You can easily get a loan under PM Svanidhi Yojana. The government has started this scheme especially for the street vendors. Now this scheme has completed two years.

To help the people doing business on the street vendors, the central government is running PM Svanidhi Yojana. Under this scheme, loans up to Rs 10,000 are given on very easy terms. Now it has become easy to get loan under Pradhan Mantri Swanidhi Yojana. Now street vendors can avail this loan through 3.8 lakh Common Service Centers (CSCs) spread across the country. It has been two years since this scheme started. Millions of people have benefited from this.

Receiving funds from the Ministry of Housing and Urban Affairs

Pradhan Mantri Swanidhi Yojana, also known as Street Vendors Self-Reliance Fund Scheme, is receiving funding from the Ministry of Housing and Urban Affairs.

Under this scheme a street vendor can apply for a loan up to Rs.10,000. After repaying the same loan, you can take a loan of up to 20 thousand rupees for the second time and up to 50 thousand rupees for the third time.

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Digital transactions will be promoted

Under this scheme, borrowers will be encouraged and rewarded for doing digital transactions. Under this scheme street vendors will get formalized and new opportunities will open for them.

Vendors will be registered

These small traders will be registered under the Common Service Center scheme. Those who are enrolled in this scheme get the facility of availing loan. This loan is available for one year and has to be repaid in monthly installments.

No guarantee of any kind is taken for this loan. Under this scheme, all merchants will have to do digital transactions. By doing this you will get cashback offer.

how can apply

Those who want to apply for this loan, PM Svanidhi Yojana website http://pmsvanidhi.mohua.gov.in/ To go that side, on clicking on the apply loan option, a new page will open, in which you will have to enter your mobile number and click on the captcha.

After this an OTP will come, which will have to be entered. Then 4 eligibility criteria will be asked, in which you have to click on any one. After this the application form will open, in which all the required documents have to be uploaded, filled and submitted.