PM SVANidhi Scheme: ₹15,000-₹50,000 Street Vendor Loans, Eligibility & Apply

What is PM SVANidhi?

PM SVANidhi was launched on 1 June 2020 by the Ministry of Housing & Urban Affairs to provide affordable formal credit to street vendors whose livelihoods were affected by the COVID-19 pandemic.

It has since evolved into a broader financial-inclusion and livelihood-support programme. The restructured scheme focuses on access to institutional credit, digital payments, credit history, entrepreneurship, social-security convergence and wider geographic coverage.

PM SVANidhi operates alongside the legal and regulatory framework for street vending, including the Street Vendors (Protection of Livelihood and Regulation of Street Vending) Act, 2014 and State/UT rules and schemes made under it.

Current PM SVANidhi Loan Structure

A vendor becomes eligible for the next tranche after successful repayment of the earlier loan in accordance with the current scheme rules.

No collateral security is required for PM SVANidhi working-capital loans.

Who is Eligible for PM SVANidhi?

The scheme covers eligible street vendors, hawkers and mobile or seasonal vendors identified under the applicable PM SVANidhi and Urban Local Body process.

A street vendor broadly includes a person engaged in vending goods, food items or services to the public from streets, footpaths, pavements, temporary structures or by moving from place to place. Examples include:

• vegetable and fruit vendors;
• ready-to-eat food, tea and snack vendors;
• textile, apparel and artisan-product sellers;
• books and stationery vendors;
• barbers, cobblers and laundry-service providers;
• mobile vendors and seasonal vendors; and
• other eligible street-vending occupations recognised by the ULB/TVC.

Under the restructured scheme, coverage is being expanded in a graded manner beyond statutory urban areas to census towns and peri-urban areas.

Certificate of Vending, ID Card and Letter of Recommendation

Eligibility is verified through Urban Local Bodies (ULBs), Town Vending Committees (TVCs) and the PM SVANidhi digital system.

Vendor with Certificate of Vending or ID Card

A vendor already holding a valid Certificate of Vending (CoV) or street-vendor identity card can use it for the application process.

Surveyed Vendor without CoV/ID

A vendor whose name appears in the official survey but who does not yet have a CoV or ID may be processed through the applicable digital/provisional-certification mechanism.

Vendor Requiring Letter of Recommendation

Eligible vendors not covered by the original survey or vendors from surrounding areas may require a Letter of Recommendation (LoR) from the ULB/TVC under current scheme procedures.

Supporting material may include previous vending-related loan records, membership of a street-vendor association, local verification or other evidence accepted by the ULB.

7% Interest Subsidy

PM SVANidhi provides an interest subsidy of 7% per annum to eligible vendors who repay their loan regularly or on time.

The subsidy is credited directly to the beneficiary's bank account in accordance with the scheme process. The actual lending interest rate is charged by the lending institution; the 7% subsidy reduces the effective interest burden for eligible borrowers.

Early repayment is permitted and the scheme encourages good repayment behaviour by making successful borrowers eligible for progressively larger loan tranches.

Digital Cashback and UPI-Linked RuPay Credit Card

The restructured scheme gives greater emphasis to digital financial inclusion.

Digital Cashback

Eligible vendors can earn cashback of up to ₹1,600 through qualifying retail and wholesale digital transactions under the current incentive structure.

• cashback up to ₹1,200 on eligible retail digital transactions; and
• additional cashback up to ₹400 on qualifying wholesale digital purchases.

UPI-Linked RuPay Credit Card

Street vendors who successfully repay the second loan tranche may become eligible for a UPI-linked RuPay Credit Card with a limit up to ₹30,000. The facility is intended to provide immediate access to credit for eligible business and personal financial requirements.

Which Institutions Provide PM SVANidhi Loans?

The scheme works through participating lending institutions, which may include:

• Scheduled Commercial Banks;
• Regional Rural Banks;
• Small Finance Banks;
• Cooperative Banks;
• Non-Banking Financial Companies;
• Micro-Finance Institutions; and
• other participating financial institutions under the scheme.

How to Apply for PM SVANidhi

1. Check your vendor status with the Urban Local Body/Town Vending Committee.
2. Keep Aadhaar, mobile number, bank-account details and available CoV/ID/LoR information ready.
3. Use the official PM SVANidhi portal or seek assistance through the ULB, a Business Correspondent or participating lender.
4. Complete the online application and KYC requirements.
5. Select/confirm the participating lender where the portal process requires it.
6. Track the application status through the official system.
7. After sanction and disbursement, repay instalments on time to preserve interest subsidy and eligibility for the next tranche.

SVANidhi se Samriddhi

SVANidhi se Samriddhi is the socio-economic profiling and welfare-convergence component of PM SVANidhi. It links eligible vendor families with selected Central Government welfare schemes.

The linked schemes include social-security, insurance, pension, banking, maternity and food-security benefits such as PMJJBY, PMSBY, Jan Dhan, PM-SYM and One Nation One Ration Card, subject to eligibility.

Current Scale and Impact

As on 12 July 2026, Government data reported that about 76.95 lakh street vendors had availed more than 1.15 crore PM SVANidhi loans amounting to approximately ₹18,475 crore.

By the same date, around 29.71 lakh vendors had availed the second tranche and about 8.49 lakh had availed the third tranche.

Independent impact assessments conducted in 2023 and 2025 found that PM SVANidhi expanded first-time access to formal bank credit and was associated with growth in borrower business income.

Key Points to Remember

• PM SVANidhi remains active and lending is extended to 31 March 2030.
• The current loan tranches are ₹15,000, ₹25,000 and ₹50,000.
• No collateral security is required.
• Eligible borrowers receive a 7% annual interest subsidy for timely repayment.
• Digital cashback can reach ₹1,600 under the restructured scheme.
• Eligible second-tranche repayers can receive a UPI-linked RuPay Credit Card up to ₹30,000.
• Coverage is expanding beyond statutory towns to census towns and peri-urban areas.
• ULBs/TVCs remain central to vendor identification, CoV and LoR processes.