How to Apply for PM SVANidhi Loan for Street Vendors 2026

About This Guide

PM SVANidhi launched June 2020. Three tranches: ₹10K (1 yr), ₹20K (after first repayment, 18 mo), ₹50K (after second, 36 mo). Interest 7% with 7% subsidy = effectively 0%. ₹1,200/year cashback on digital. No collateral.

Eligibility Criteria

• Street vendor with CoV/ID
• Indian citizen
• Active vending in urban area
• ULB verified
• Not in NPA

Documents Required

Keep these documents ready before starting application. Missing documents = delayed approval.

• CoV or ID Card from ULB
• Aadhaar
• Bank account
• Mobile linked Aadhaar
• PAN
• Letter of Recommendation if no CoV

Step-by-Step Application Process

Follow these steps in order. Each step is critical - skip none.

Key Benefits

• Loan ₹10K → ₹20K → ₹50K
• 7% interest (effective 0%)
• ₹1,200/yr cashback digital
• No collateral
• Builds credit history
• Affordable EMIs

What Happens After Application?

Loan in 7-15 days. Use for working capital. Adopt UPI for ₹100/month cashback.

Frequently Asked Questions

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