If you are having an Aadhaar card, then their is a good news for you. You can get loan through Aadhaar card. You can avail loan up to Rs.50,000 through Aadhaar card. Under this scheme, you can take loan on Aadhaar card without any collateral. The Union Government launched the PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme to help small businesses. This 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. If you want to know about this PM SVANidhi scheme, then go through this article and know how you can get a loan through Aadhaar card under this scheme.
What is PM SVANidhi Scheme?
In 2020, the Union Government launched the PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme to help small businesses during the Covid-19 pandemic. Its purpose was to make Street vendors self-reliant. 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.
In this the businessmens are given loans up to 10,000 rupees. If they repay it on time, then later they can get a loan of up to Rs 20,000 and if they repay it on time, the loan amount will increase to Rs 50,000. The loan is to be repaid in 12 monthly installments.
How to Apply for a Loan Under this PM SVANidhi Scheme?
- So first of all you must have Aadhaar card through which you can go to any government bank and apply for this scheme.
- You can also apply directly through the portal or at any Common Service Center (CSC). You can apply in your area.
Note that your Aadhaar must be linked to your mobile number to avail the benefits of this scheme. If you apply for a loan online, it will be required for e-kyc or Aadhaar verification.
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