PM SVANidhi Scheme 2026: Get a Loan of Up to ₹50,000 Without Collateral, Check Eligibility
The PM SVANidhi Scheme offers eligible street vendors collateral-free loans of up to ₹50,000. Check loan amounts, benefits, eligibility, documents and how to apply online.
Small street vendors often need money to buy stock, purchase supplies and manage daily business expenses. To help them, the Government of India runs the PM SVANidhi Scheme which provides eligible street vendors with collateral-free working capital loans. The scheme was launched on June 1, 2020. Under its revised structure, eligible vendors can receive loans of up to ₹50,000 in three stages. The lending period has been extended until March 31, 2030. Keep reading to know in detail.
What Is the PM SVANidhi Scheme?
PM SVANidhi stands for Prime Minister Street Vendor’s AtmaNirbhar Nidhi. It is a government scheme designed to help street vendors access loans without providing collateral. The money can be used to run or improve small businesses, including selling vegetables, fruits, food, clothes and other everyday items.
PM SVANidhi Scheme 2026: Key Details
| Particular | Details |
| Scheme Name | PM SVANidhi |
| Full Form | Prime Minister Street Vendor’s AtmaNirbhar Nidhi |
| Launch Date | June 1, 2020 |
| Responsible Ministry | Ministry of Housing and Urban Affairs (MoHUA) |
| Main Beneficiaries | Eligible street vendors |
| Maximum Loan | ₹50,000 |
| Loan Type | Collateral-free working capital loan |
| Interest Subsidy | 7% per annum on eligible loans |
| Lending Period | Extended until March 31, 2030 |
| Official Website | https://pmsvanidhi.mohua.gov.in/ |
How Much Loan Can You Get Under PM SVANidhi?
Eligible street vendors can receive loans in three stages. The amount increases after the borrower successfully repays the previous loan and meets the scheme conditions.
| Loan Stage | Loan Amount | Repayment Period |
| First loan | Up to ₹15,000 | Up to 12 months |
| Second loan | Up to ₹25,000 | Up to 18 months |
| Third loan | Up to ₹50,000 | Up to 36 months |
What Are the Benefits of the PM SVANidhi Scheme?
The scheme offers financial support to eligible street vendors in several ways.
| Benefit | What it means |
| Collateral-free loan | No collateral is required for the scheme loan. |
| Interest subsidy | Eligible borrowers can receive a 7% annual interest subsidy for timely repayment. |
| Higher loan amount | Vendors may qualify for a larger loan after successfully repaying the previous one. |
| Digital payment rewards | Eligible digital transactions may earn cashback under the scheme rules. |
| RuPay credit card | Eligible vendors who repay the second loan can access a UPI-linked RuPay credit card with a limit of up to ₹30,000. |
| Financial support | The scheme helps vendors build a formal credit history. |
Who Can Apply for the PM SVANidhi Scheme?
The scheme is meant for eligible street vendors whose vending activity falls under the applicable guidelines.
| Eligibility Requirement | Details |
| Occupation | The applicant must be an eligible street vendor. |
| Business verification | The vending activity must be verified under the scheme. |
| Vending documents | A Certificate of Vending or identity card may be required, where applicable. |
| Letter of Recommendation | Eligible applicants may be able to apply through a Letter of Recommendation, subject to verification. |
| Bank details | Applicants must provide the required banking information. |
What Documents Are Required for PM SVANidhi?
Applicants may need the following documents and details:
| S.No. | Required Document / Detail | Condition / Notes |
| 1 | Aadhaar card or another accepted identity document | Primary proof of identity |
| 2 | Bank account details | Account number and IFSC for disbursement/verification |
| 3 | Mobile number | Linked for OTP authentication and updates |
| 4 | Certificate of Vending or vendor identity card | Where applicable |
| 5 | Letter of Recommendation | Where applicable |
| 6 | Other documents requested during verification | Subject to specific local authority requirements |
How to Apply for the PM SVANidhi Scheme Online?
Street vendors can check the application process through the official portal and seek help from their local Urban Local Body if needed.
1. Visit the official website: https://pmsvanidhi.mohua.gov.in/
2. Check the latest eligibility conditions.
3. Enter the required personal, business and bank details.
4. Submit the required documents or vending-related proof.
5. Complete the verification process.
6. The application is sent for processing by the lending institution.
7. If approved, the loan is disbursed according to the applicable rules.
Jasreet Kaur is a journalist with over 3 years of experience in digital media and news content creation. She specializes in covering Trending News, including major National and International developments, with a focus on delivering accurate, engaging, and reader-friendly stories. Prior to this, she worked with Zee News as a Content Writer, where she gained extensive experience in news reporting and content strategy. Driven by curiosity, credibility, and a passion for impactful journalism, Jasreet aims to contribute to informed public discourse while supporting positive growth in organizations, society, and the world.
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