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How to Apply for PM SVANidhi Extension/3rd Loan 2026
PM SVANidhi 3rd Loan - ₹50,000 after ₹10K + ₹20K repayment. Online. ₹1,200 cashback.
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⏱️ 30-45 mins
💰 Free
Visit Official Portal →
About This Guide
PM SVANidhi 3rd loan extension - up to ₹50,000 for street vendors after timely repayment of 1st (₹10K) + 2nd (₹20K) loans. Total ₹80K credit cycle. 7% interest subsidy. Cashback ₹1,200 for digital transactions. Apply at pmsvanidhi.mohua.gov.in or partner bank.
Eligibility Criteria
- Existing PM SVANidhi member
- Repaid 1st (₹10K) + 2nd (₹20K) on time
- Active street vendor
- Aadhaar mandatory
- LoR (Letter of Recommendation) renewed
Documents Required
Keep these documents ready before starting application. Missing documents = delayed approval.
- Aadhaar
- PAN (for loans > ₹50K)
- LoR (Letter of Recommendation)
- Bank statements (showing repayment)
- Vendor ID
- Photo
- Mobile registered
- Ulb/Town vending committee endorsement
Step-by-Step Application Process
Follow these steps in order. Each step is critical - skip none.
Repay 2nd Loan
On time (within 18 months typical).
Visit Portal
pmsvanidhi.mohua.gov.in.
Or Partner Bank
SBI, PNB, BoB, etc.
Apply 3rd Loan
After 2nd loan closure.
Submit Documents
Repayment proof.
Bank Verification
Credit history check.
Disbursement
₹50,000 to bank.
7% Interest Subsidy
Auto-applied.
₹1,200 Cashback
For digital transactions.
Repayment
24 months typical.
Key Benefits
- Up to ₹50,000
- 7% interest subsidy
- ₹1,200 cashback
- Total ₹80K credit cycle
- Vendor empowerment
- Bank-mediated
- Govt-backed
- Quick processing
- Digital transaction reward
What Happens After Application?
30-60 days.
Frequently Asked Questions
2nd loan late?
Late repayment: 3rd loan eligibility may be denied. Pay on time critical. Subsidy forfeit possible.