PM Svanidhi Login: A Complete Guide for Street Vendors

The PM SVANidhi scheme (Pradhan Mantri Street Vendor’s AtmaNirbhar Nidhi) is a micro-credit initiative aimed at providing financial support to street vendors across India. Launched by the Government of India in June 2020, this scheme offers affordable loans to street vendors to help them rebuild their livelihoods after the COVID-19 pandemic. This article will guide you through the PM SVANidhi login process, checking your application status, and applying for loans online.

What is PM SVANidhi?

PM SVANidhi is a central government scheme offering collateral-free loans of up to ₹10,000 to street vendors. Vendors can also avail of a second loan of ₹20,000 after repayment, followed by a third loan of ₹50,000. The scheme promotes digital transactions and incentivizes timely repayment through interest subsidies.

How to Access PM SVANidhi Login?

To utilize the services under the PM SVANidhi scheme, you must access the online portal for login and related processes.

Steps for PM SVANidhi Login

1. Visit the Official Website
   Navigate to the official portal at PM SVANidhi.
2. Click on ‘Login’
   On the homepage, locate and click the ‘Login’ button for vendors or financial institutions.
3. Enter Your User name
   Enter your username and password provided during registration.
4. Access the Dashboard
   After login, explore options like loan application status, apply for loans, or check subsidy status.

How to Apply for PM SVANidhi Loan Online?

If you’re a street vendor seeking a loan, here’s how you can apply:

Step-by-Step Process

1. Register on the Portal
   • Visit the PM SVANidhi Portal.
   • Complete the registration form with basic details like name, mobile number, and Aadhaar card.
2. Check Eligibility
   • Confirm you’re a registered street vendor under ULBs (Urban Local Bodies).
   • If unregistered, upload documents like a certificate of vending.
3. Fill the Loan Application
   • Log in and click on ‘Apply for Loan.’
   • Provide details about your vending business, monthly income, and loan amount (up to ₹10,000 for the first application).
4. Submit Documents
   Upload supporting documents such as:
   • Aadhaar Card
   • Voter ID
   • Bank Passbook
   • Proof of Business
5. Submit the Application
   Once the application is submitted, a unique reference number will be generated for tracking.

Checking PM SVANidhi Application Status

After applying, you can monitor the status of your loan application online.

Steps to Check PM SVANidhi Application Status

1. Visit the PM SVANidhi Portal.
2. Log in with your registered credentials.
3. Click on the Application Status tab.
4. Enter your reference number and click ‘Submit.’
5. View the current status, whether it’s under processing, approved, or disbursed.

Benefits of PM SVANidhi Scheme

1. Collateral-Free Loans: No need for security or guarantees.
2. Interest Subsidy: Vendors receive a 7% interest subsidy, credited quarterly.
3. Digital Transactions: Incentives for promoting digital payments.
4. Flexible Repayment: Repay in 12 monthly installments with minimal penalties.
5. Increased Loan Limit: Opportunity to increase the loan amount after timely repayments.

Eligibility Criteria for PM SVANidhi Loan

To qualify for the scheme, vendors must meet these criteria:

Key Features of PM SVANidhi

1. Loan tenure of 1 year.
2. Integrated with Aadhaar for easy verification.
3. Digital wallet integration for vendors adopting digital payments.
4. Over 24 lakh applications approved to date.

Advantages of Using the PM SVANidhi Login Portal

1. Time-Saving: Avoids lengthy offline processes.
2. Transparency: Tracks application progress in real-time.
3. Accessibility: Easy for vendors to access financial services.
4. User-Friendly Interface: Designed to accommodate non-technical users.

Loan Repayment Process

Street vendors can repay the loan via:

1. UPI Payment Apps
2. Internet Banking
3. Bank Counter Deposits

How Digital Transactions Are Rewarded

The PM SVANidhi scheme rewards street vendors for adopting digital transactions. Vendors who perform 50 or more digital transactions per month are eligible for cashback incentives ranging from ₹50 to ₹10

Conclusion

The PM SVANidhi scheme has empowered street vendors by providing them access to financial resources without collateral. With a seamless PM SVANidhi login process and numerous benefits like interest subsidies and increased loan limits, this initiative supports vendors in becoming self-reliant. Whether you’re applying for a loan or checking your application status, the PM SVANidhi Portal simplifies every step.

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