PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi)
Collateral-free loan ₹10,000–₹50,000 · 7% interest · street vendors nationwide
Street vendors across India can get a collateral-free working capital loan starting at ₹10,000, growing to ₹20,000 and then ₹50,000 on timely repayment, at a subsidized 7% interest rate with no processing fee. The scheme also rewards vendors who use digital payments with up to ₹100 cashback per month. Apply online at pmsvanidhi.mohua.gov.in or through your local Urban Local Body.
About This Scheme
Street vendors across India can get a collateral-free working capital loan starting at ₹10,000, growing to ₹20,000 and then ₹50,000 on timely repayment, at a subsidized 7% interest rate with no processing fee. The scheme also rewards vendors who use digital payments with up to ₹100 cashback per month. Apply online at pmsvanidhi.mohua.gov.in or through your local Urban Local Body.
Full official description
PM SVANidhi is a central-sector micro-credit scheme launched on 1st June 2020 by the Ministry of Housing and Urban Affairs (MoHUA) to provide handholding support to street vendors. The scheme facilitates a working capital collateral-free loan of ₹10,000, with subsequent loans of ₹20,000 and ₹50,000 with a 7% interest subsidy. The scheme focuses on increasing the digital footprint in India by promoting the use of digital transactions among street vendors. To incentivize the adoption of digital transactions, a cashback of up to ₹100 per month is given to Street Vendors. Aim: The scheme aims to formalize the street vendors and open up new opportunities for this sector to move up the economic ladder. Street vendors represent a very important constituent of the urban informal economy and play a significant role in ensuring availability of the goods and services at affordable rates at the doorstep of the city dwellers. They are known as vendors, hawkers, thelewala, rehriwala, theliphadwala, etc. in different areas/ contexts. The goods supplied by them include vegetables, fruits, ready-to-eat street food, tea, pakodas, bread, eggs, textile, apparel, footwear, artisan products, books/ stationary, etc. The services include barber shops, cobblers, pan shops, laundry services, etc.
Benefits
- First loan: ₹10,000 (collateral-free, 1-year repayment)
- Second loan: ₹20,000 (after timely repayment of first)
- Third loan: ₹50,000 (after timely repayment of second)
- Interest subsidy: 7% per annum (effective cost is very low)
- No collateral required, no processing fee
- Digital payment cashback: up to ₹100 per month
💡 Why Startups Should Care
Street vending is one of India's largest informal economies, and this scheme is the first formal credit line many vendors ever access. Starting at ₹10,000 with zero collateral and a low 7% rate, timely repayment unlocks progressively larger loans — a genuine credit-building ladder.
Who Can Apply (Eligibility)
- Must be a registered street vendor with a Certificate of Vending or Identity Card from the Urban Local Body (ULB)
- Vendors identified in ULB surveys but not yet issued ID cards are also eligible
- Vendors with a Letter of Recommendation (LoR) from the ULB or Town Vending Committee are eligible
- Vendors from peri-urban or rural areas operating within ULB limits with a valid LoR are also covered
How to Apply
- Visit pmsvanidhi.mohua.gov.in and click "Log In" on the homepage.
- Enter your mobile number and complete OTP verification.
- Fill in the application form with vendor details and upload required documents.
- Submit the Certificate of Vending, ID, or Letter of Recommendation along with KYC documents.
- On approval, the loan is disbursed to your bank account — track status on the portal.
Frequently Asked Questions
What Is PM Street Vendor’s AtmaNirbhar Nidhi Scheme?
A: The PM Street Vendor's AtmaNirbhar Nidhi scheme is a government initiative aimed at providing financial assistance to street vendors affected by the COVID-19 pandemic.
Who Is Eligible To Apply For The PM Street Vendor’s AtmaNirbhar Nidhi Scheme?
A: Street vendors who have been operating their business for at least one year prior to March 24, 2020, and have been in possession of a valid ID proof are eligible to apply for the scheme.
What Is The Age Limit To Apply For The PM Street Vendor’s AtmaNirbhar Nidhi Scheme?
A: There is no age limit to apply for the PM Street Vendor's AtmaNirbhar Nidhi scheme.
What Is The Maximum Loan Amount That Can Be Availed Under This Scheme?
A: Street vendors can avail of a working capital loan of up to Rs. 10,000 under the PM Street Vendor's AtmaNirbhar Nidhi scheme.
What Is The Interest Rate On The Loan Provided Under This Scheme?
A: The interest rate on the loan provided under this scheme is 7%.
How Can One Apply For The PM Street Vendor’s AtmaNirbhar Nidhi Scheme?
A: Applicants can apply for the scheme online through the official website of their respective State or Union Territory.
Is There Any Processing Fee To Apply For The PM Street Vendor’s AtmaNirbhar Nidhi Scheme?
A: No, there is no processing fee to apply for the PM Street Vendor's AtmaNirbhar Nidhi scheme.
What Documents Are Required To Apply For The PM Street Vendor’s AtmaNirbhar Nidhi Scheme?
A: Applicants need to provide a valid ID proof, a certificate of vending/registration, and a recent photograph to apply for the scheme.
Can An Individual Apply For The PM Street Vendor’s AtmaNirbhar Nidhi Scheme Multiple Times?
A: No, an individual can apply for the scheme only once.
Can An Individual Apply For The Scheme If They Have Availed Of A Loan Under Any Other Government Scheme?
A: Yes, an individual can apply for the scheme even if they have availed of a loan under any other government scheme.
What Is The Repayment Period For The Loan Provided Under This Scheme?
A: The loan provided under this scheme has to be repaid within one year of availing it.
Is Collateral Required To Avail Of The Loan Under This Scheme?
A: No, collateral is not required to avail of the loan under the PM Street Vendor's AtmaNirbhar Nidhi scheme.
Can The Loan Amount Be Used For Any Purpose?
A: Yes, the loan amount can be used for any purpose related to the street vending business.
What Is The Benefit Of Availing Of The Loan Under This Scheme?
A: The loan provided under this scheme can be used to restart or expand the street vending business, thereby providing financial stability to the street vendor.
What Is The Repayment Mode For The Loan Provided Under This Scheme?
A: The loan provided under this scheme has to be repaid in monthly installments.
Ready to apply?
Visit the official government portal to apply for this scheme.
Apply on myScheme.gov.inDocuments Required
- Certificate of Vending / Identity Card / Letter of Recommendation
- Aadhaar card
- Voter identity card
- Bank account details