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PM Street Vendor's AtmaNirbhar Nidhi, or the PM SVANidhi Yojana, is a micro-credit facility for street vendors. This scheme provides affordable working capital loans of up to ₹10,000 for a tenure of 1 year to street vendors. 


The Ministry of Housing and Urban Affairs launched this scheme to support the livelihood of street vendors affected by the COVID-19 pandemic. 

Key Facts About the PM SVANidhi Yojana

Here are some important details of the PM SVANidhi Yojana:

Scheme Launch Date

June 01, 2020

Scheme Extension

The scheme has been extended up to December 2024

Executing Ministry

Ministry of Housing and Urban Affairs (MoHUA), Government of India


Street hawkers vending in urban regions as on and before March 24, 2020

Loan Amount Offered

Up to ₹10,000

Interest Rate

7% p.a.

Objectives of the PM SVANidhi Scheme

Here are some key parameters of the scheme:

  • To provide a working capital loan of up to ₹10,000 at an affordable interest rate

  • To incentivise timely repayment of loan

  • To reward digital transactions with cashback

PM SVANidhi Loan Interest Rate

The subsidised interest rate for the PM SVANidhi Scheme is 7% p.a. The interest rates are fixed as per the prevailing loan interest rates offered by the following institutions:

  • Scheduled Commercial Banks (SCBs)

  • Regional Rural Banks (RRBs)

  • Small Finance Banks (SFBs)

  • SHGs (self-help groups)

  • Cooperative banks


The interest rate depends on the RBI guidelines if you get the loan from the following entities:

  • Non-Banking Financial Company-Micro Finance Institutions (NBFC-MFIs)

  • Non-Banking Financial Companies (NBFCs)


If the non-NBFC lenders are not covered under the RBI guidelines, the interest rates would be fixed as per the RBI guidelines for NBFC-MFIs.

PM SVANidhi Yojana Eligibility Criteria

Here are the eligibility parameters for the PM SVANidhi Yojana:

Eligibility Criteria for UT/States 

  • The scheme is only available for beneficiaries from the State/UT who have notified Rules and Scheme under the Street Vendors Act, 2014

  • Beneficiaries belonging to Meghalaya, which has its own Street Vendor Act, are eligible to participate

Eligibility Criteria for Beneficiaries 

  • You must have a vending certificate or identity card issued by the concerned Urban Local Body (ULB)

  • In case you are identified in the ULB led identification survey, you must provide a provisional certificate if you do not possess an identity card

  • In case you were left out of the survey, you must provide a permanent certificate from the concerned ULB issued within 30 days of issuance of the provisional certificate

  • You can apply with a Letter of Recommendation (LoR) if you are from surrounding development or rural or peri-urban areas in the ULB’s geographical limits

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How to Apply for a Loan Under the PM SVANidhi Scheme?

Follow these steps to apply for a loan under the PM SVANidhi Scheme:

  • Step 1: Visit the official website and click on the ‘Apply Loan 10K’ tab

  • Step 2: Provide your mobile number and enter the captcha code

  • Step 3: Choose your category and fill in the required fields

  • Step 4: Click on the ‘Submit’ option to apply

How to Check Your PM SVANidhi Loan Status Online?

Follow these steps to check the PM SVANidhi loan status online:

  • Step 1: Visit the official website of the PM SVANidhi Scheme

  • Step 2: Log in using your ID and password

  • Step 3: View the loan status on the screen

Top 5 Performing States of the PM SVANidhi Scheme

Here are the top-performing states of the PM SVANidhi Scheme:

  • Uttar Pradesh

  • Madhya Pradesh

  • Maharashtra

  • Telangana

  • Gujarat

Implementation Partner for the PM SVANidhi Scheme

The Small Industries Development Bank of India (SIDBI) is the implementation partner to assist the Ministry. SIDBI launched a portal on July 02, 2020, and developed a mobile app for Lending Institutions (LIs), ULBs, States and stakeholders. 


This loan digitisation process helped lending institutions manage the large number of applications for the scheme.

Digital Transactions by Street Vendors Under PM SVANidhi Yojana

The Government offers cashback to incentivise vendors to promote digital transactions under this scheme. Vendors who make transactions of ₹25 or above are eligible for a cashback. Here is the cashback that vendors can earn:

  • First 50 eligible transactions - ₹50

  • Next 50 eligible transactions - ₹25

  • Next 100 eligible transactions - ₹25

FAQs on the PM SVANidhi Yojana

What is the full form of PM SVANidhi and its objective?

PM SVANidhi stands for PM Street Vendor's AtmaNirbhar Nidhi. It has three-fold objectives: first, to provide street vendors with a collateral-free working capital loan of up to ₹10,000. Second, to incentivise regular repayments and third, to promote digital transactions.

What are the salient features of this scheme?

Firstly, the PM SVANidhi scheme offers monthly cashback on online transactions. Moreover, it facilitates working capital of ₹10,000 with a one-year tenure with an interest subsidy of 7% on early repayment.

What is the rate and amount of interest subsidy?

If you have opted for loans under the PM SVANidhi Scheme, you can get an interest subsidy of 7%.

How long will it take to get the loan approved?

You will get the loan approved within 30 days under the SVANidhi Scheme.

Is it necessary to link a mobile number with Aadhaar to avail the benefit of the PM SVANidhi loan?

Yes, it is necessary to link your mobile number with your Aadhaar Card to avail of a loan under the PM SVANidhi Scheme. It is because the loan application process involves OTP-based Aadhaar verification.

Do I need to provide any collateral to avail the PM SVANidhi loan?

The loans provided under the PM SVANidhi Scheme are unsecured in nature. Therefore, you need not pledge any collateral to avail a PM SVANidhi loan.

What is the maximum loan amount for PM SVANidhi?

The maximum loan amount for the PM SVANidhi Scheme is ₹50,000. However, you can only avail of up to ₹10,000 as initial working capital.

How many loans can I take from PM SVANidhi?

You can avail of loans in three different terms under the PM SVANidhi scheme.

What is the interest rate of PM SVANidhi ₹20,000 loan?

The PM SVANidhi interest rate for ₹20,000 loan is identical to similar loans if you avail of it from SCBs, RRBs, SHGs, and Cooperative Banks. However, it will depend on the RBI guidelines if you avail of such a loan from MFIs or NBFCs.

Is there any loan pre-closure penalty under this scheme?

No, you do not need to pay any penalty for the pre-closure of the working capital loan under the PM SVANidhi Scheme.

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