Ministry of Housing and Urban Affairs, Government of India
PM SVANidhi Yojana 2026: Rs. 50,000 Loan + RuPay Credit Card
Objective
Provide affordable working capital loans to street vendors who lost their livelihoods during the COVID-19 pandemic, help them restart their businesses, and enable their graduation to formal financial services.
Eligibility Criteria
- Street vendors who vend in urban areas (cities, towns, peri-urban areas)
- Must have a Certificate of Vending or Identity Card issued by Urban Local Body (ULB)
- OR a Letter of Recommendation (LoR) from ULB or Town Vending Committee (TVC) if not surveyed
- OR vendors identified in ULB-led surveys as conducting vending but not issued a certificate yet
- All categories of street vendors. Food vendors, vegetable sellers, fruit sellers, cobblers, pan shops, tea stalls, barbers, laundry, book stalls, textile sellers, etc.
Benefits & Features
- 11st Loan: ₹10,000. Collateral-free, no guarantor required
- 22nd Loan: ₹20,000. After timely repayment of 1st loan
- 33rd Loan: ₹50,000. After timely repayment of 2nd loan
- 4Interest subsidy: 7% per annum on timely or early repayment
- 5Cashback incentive: Up to ₹100 per month for digital transactions (UPI, debit card)
- 6Loan tenure: 12 months (1st), 18 months (2nd), 36 months (3rd)
- 7No collateral, no guarantor required for any of the three loan stages
Required Documents
- Certificate of Vending / Identity Card from ULB (if available)
- Letter of Recommendation from ULB or TVC (if no certificate)
- Aadhaar card (mandatory for application)
- Bank account details (for loan disbursal)
- Mobile number linked to Aadhaar
How to Apply
Frequently Asked Questions
| What is PM SVANidhi Yojana in one sentence? | PM SVANidhi (Pradhan Mantri Street Vendor's AtmaNirbhar Nidhi) is a central sector micro-credit scheme launched by MoHUA on 1 June 2020 that gives urban street vendors three sequential collateral-free loans of Rs. 15,000, Rs. 25,000, and Rs. 50,000 at a 7% interest subsidy, extended till 31 March 2030 by Cabinet on 27 August 2025 with a Rs. 7,332 crore outlay under PM SVANidhi 2.0. |
| What are the current PM SVANidhi loan amounts in 2026? | Rs. 15,000 in tranche 1 (12 months), Rs. 25,000 in tranche 2 (18 months), and Rs. 50,000 in tranche 3 (36 months). These amounts were revised upward under PM SVANidhi 2.0 approved on 27 August 2025 (PIB PRID 2161157). Older Rs. 10,000 and Rs. 20,000 figures on many websites are outdated. |
| Who is eligible for PM SVANidhi in 2026? | Street vendors operating in urban local bodies, census towns, or peri-urban areas. Three qualification routes exist: (1) vendors with a Certificate of Vending, (2) vendors with a ULB Identity Card, or (3) vendors missed in the 2020 survey who can obtain a Letter of Recommendation from their ULB or Town Vending Committee. No income limit; salaried employment disqualifies you. |
| When does PM SVANidhi Yojana end? | 31 March 2030. The Union Cabinet approved a five-year extension on 27 August 2025 with a fresh Rs. 7,332 crore outlay under PM SVANidhi 2.0 (PIB PRID 2161157). The prior sunset was December 2024. |
| How do I apply for PM SVANidhi online in 2026? | Visit pmsvanidhi.mohua.gov.in, click 'Apply Loan' for first-time applicants, log in with your Aadhaar-linked mobile OTP, fill vendor and business details, upload your CoV or ID card or LoR + Aadhaar + bank details, and submit. Median approval time is 15 to 30 days. You can also apply in-branch at any participating bank or via a Common Service Centre. |
| What is the effective interest rate after the 7% subsidy? | Roughly 5% to 6% per annum. Banks lend at their standard MCLR-linked rate of 12% to 13%. The government reimburses 7 percentage points as an interest subsidy credited quarterly to the vendor's bank account on timely repayment. Effective borrowing cost across all three tranches settles around 5%. |
| What is the PM SVANidhi RuPay UPI Credit Card? | A UPI-linked RuPay credit card launched by MoHUA in January 2026 for SVANidhi beneficiaries who have completed tranche 2 repayment. Initial limit is Rs. 10,000, scaling to Rs. 30,000 after 6 to 12 months of clean usage. Offers 20 to 50 day interest-free credit, 5-year validity, and UPI-only transactions (no ATM cash withdrawal). Apply via the pmsvanidhi.mohua.gov.in portal. |
| How much digital cashback can I earn under PM SVANidhi? | Up to Rs. 1,200 per year. Beneficiaries earn Rs. 1 per accepted digital transaction (UPI, RuPay debit card, AePS), capped at 100 transactions per month, credited quarterly to the vendor's bank account. Cashback is on top of the 7% interest subsidy. |
| Am I eligible if I started vending after March 2020 and was never surveyed? | Yes, via Route 3. You need a Letter of Recommendation (LoR) from your ULB or Town Vending Committee. This route explicitly covers vendors missed in the original 2020 baseline survey. If the ULB refuses the LoR without written reason, the refusal is challengeable. |
| Which banks and lenders participate in PM SVANidhi? | Over 100 institutions including public sector banks (SBI, PNB, Bank of Baroda, Union Bank, Canara, UCO, BoI, Indian Bank), private banks (HDFC, ICICI, Axis), Regional Rural Banks, Small Finance Banks (AU, Equitas, ESAF, Ujjivan), cooperative banks, MFIs (Bharat Financial, Satin Creditcare, Spandana), and select NBFCs. Full list at pmsvanidhi.mohua.gov.in/Schemes/LenderList. |
| What is SVANidhi se Samriddhi? | A companion convergence initiative launched in January 2021 that links SVANidhi beneficiaries to eight national welfare schemes: PMJJBY (Rs. 2 lakh life cover), PMSBY (Rs. 2 lakh accident cover), PMJDY (Jan Dhan account), Ayushman Bharat (Rs. 5 lakh health cover), Atal Pension Yojana, BOCW Board registration, One Nation One Ration Card linkage, and Janani Suraksha Yojana / PMMVY. Enrolment happens at monthly Lok Kalyan Melas. |
| Can I get PM SVANidhi if I already have a MUDRA or PMEGP loan? | Yes, PM SVANidhi does not exclude MUDRA or PMEGP beneficiaries as long as those loans are not in default. Unlike PM Vishwakarma, there is no 5-year cooling rule vs MUDRA or PMEGP. You just need to be a street vendor with valid CoV, ID card, or LoR and no outstanding SVANidhi tranche. |
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What PM SVANidhi Yojana is in 2026
PM SVANidhi (Pradhan Mantri Street Vendor's AtmaNirbhar Nidhi) is a central sector micro-credit scheme launched by the Ministry of Housing and Urban Affairs on 1 June 2020 to give urban street vendors collateral-free working capital loans at subsidised interest. On 27 August 2025 the Union Cabinet approved a restructured version (PM SVANidhi 2.0) with a Rs. 7,332 crore outlay, extended the scheme till 31 March 2030, and expanded coverage to census towns and peri-urban areas, per PIB PRID 2161157.
Under PM SVANidhi 2.0, an eligible street vendor gets three sequential loans of Rs. 15,000, Rs. 25,000, and Rs. 50,000 (raised from the original Rs. 10,000, Rs. 20,000, and Rs. 50,000), with a 7% interest subsidy on timely repayment and a monthly digital-transaction cashback of up to Rs. 100. Since inception, the scheme has served 75.5 lakh street vendors with 1.12 crore loans worth over Rs. 17,800 crore, of whom 46% are women and 70% belong to marginalised communities, per PIB PRID 2266920 (30 May 2026).
95% of PM SVANidhi beneficiaries accessed formal credit for the first time in their lives, per the same PIB release. Beneficiary income has grown by roughly 20% on average, and 55 lakh vendors are now digitally onboarded with 841 crore digital transactions worth nearly Rs. 9 lakh crore transacted through UPI, RuPay, and AePS at their vending points.
The scheme sits inside a wider "SVANidhi se Samriddhi" convergence framework that links street vendors to eight other welfare schemes (Ayushman Bharat, PMJJBY, PMSBY, and others). If you're an urban vendor whose livelihood was disrupted during COVID-19 or who started vending after the March 2020 baseline survey, PM SVANidhi 2.0 has an explicit Letter of Recommendation route to bring you into the system.
PM SVANidhi 2.0 restructuring: what changed in August 2025
Three developments in FY 2025-26 materially change how a July 2026 applicant should think about PM SVANidhi.
Cabinet approved restructuring and lending extension till 31 March 2030 on 27 August 2025, per PIB PRID 2161157. Prior to this, the scheme had a hard sunset in December 2024 with no funding beyond that date. The restructured version has a fresh Rs. 7,332 crore outlay, a target of 1.15 crore beneficiaries including 50 lakh new vendors, and joint implementation by MoHUA and the Department of Financial Services.
Tranche amounts were revised upward. Loan 1 rose from Rs. 10,000 to Rs. 15,000. Loan 2 rose from Rs. 20,000 to Rs. 25,000. Loan 3 stays at Rs. 50,000. The vast majority of Indian scheme comparison pages still show the old numbers. If your source cites Rs. 10,000 as the first tranche, it's outdated by roughly a year.
Coverage was expanded beyond statutory towns. Under the 2020 baseline, only vendors in statutory urban local bodies were eligible. From 27 August 2025 onward, vendors in census towns and peri-urban areas outside statutory ULB boundaries also became eligible, per PIB PRID 2161157. This closes a coverage gap that had shut out several lakh peri-urban vendors.
Alongside restructuring, the ministry rolled out FSSAI food-safety training for food-vending SVANidhi beneficiaries and monthly Lok Kalyan Melas to link beneficiaries with adjacent welfare schemes. The RuPay-linked UPI credit card, described in the next section, went live in January 2026.
Loan tranche structure and interest subsidy
PM SVANidhi provides three sequential working capital loans, each unlocked only after timely repayment of the previous tranche. This creates a natural credit-history builder for vendors who have historically been excluded from formal banking.
| Tranche | Amount (post-Aug 2025) | Tenure | Unlock condition |
|---|---|---|---|
| Tranche 1 | Rs. 15,000 | 12 months | New applicant with CoV or ID card or LoR |
| Tranche 2 | Rs. 25,000 | 18 months | Timely repayment of tranche 1 |
| Tranche 3 | Rs. 50,000 | 36 months | Timely repayment of tranche 2 |
The 7% interest subsidy works as follows. Banks lend to SVANidhi vendors at their standard MCLR-linked rate (typically 12% to 13%). If the borrower repays on time or early, the government reimburses 7 percentage points of interest directly to the vendor's bank account as a subsidy. Effective interest paid by the vendor: 5% to 6% per annum. The subsidy is credited quarterly, not upfront.
Worked example: Priya, a chaat vendor in Lucknow, applies for tranche 1.
- Loan amount: Rs. 15,000
- Bank rate: 12% per annum
- Tenure: 12 months
- Nominal monthly EMI: Rs. 1,333 (rounded)
- Total repayment at nominal rate: Rs. 15,996
- Total interest at nominal rate: Rs. 996
- Government 7% subsidy reimbursed to Priya over four quarters: Rs. 581 (calculated on outstanding principal each quarter)
- Priya's effective interest cost after subsidy credit: Rs. 415 over the year, an effective rate of roughly 5%.
If Priya then unlocks tranche 2 (Rs. 25,000, 18 months) and tranche 3 (Rs. 50,000, 36 months) at 12% nominal, her cumulative effective borrowing cost across all three tranches, after the 7% subsidy credit, stays around 5% per annum. This is one of the lowest effective borrowing rates available to street vendors in India in 2026.
PM SVANidhi UPI-linked RuPay Credit Card
In January 2026, MoHUA launched a UPI-linked RuPay Credit Card specifically for PM SVANidhi beneficiaries who have successfully completed tranche 2 repayment. This is the biggest 2026 addition to the scheme and is not covered by most competitor pages.
Key features of the SVANidhi RuPay UPI credit card:
- Initial credit limit: Rs. 10,000 at issuance
- Scale-up limit: up to Rs. 30,000 after 6 to 12 months of clean usage
- Interest-free credit period: 20 to 50 days from statement date
- Card validity: 5 years
- No cash withdrawal at ATM or POS (UPI transactions only)
- Issued by participating public sector banks and select private banks
- Linked directly to vendor's bank account and UPI ID
The card is designed for daily working-capital use at wholesale suppliers who accept UPI. A vendor who buys stock every morning at a mandi can now put those purchases on the credit card, get the 20 to 50 day interest-free window, and pay off using the day's collections. This frees up the vendor's tranche loan for larger investments (a new cart, a cold storage box, a display fridge) rather than daily raw material.
To apply for the card, the vendor logs in to pmsvanidhi.mohua.gov.in with existing loan account credentials and requests card issuance. Physical card delivery takes 15 to 30 working days depending on the issuing bank.
Eligibility criteria and the three qualification routes
You must be a street vendor operating in an urban local body, census town, or peri-urban area. Three qualification routes exist depending on your documentation status:
| Route | Who qualifies | Document needed |
|---|---|---|
| Route 1 | Vendors surveyed and issued Certificate of Vending (CoV) by ULB | CoV number + Aadhaar |
| Route 2 | Vendors surveyed but not yet issued CoV; ULB Identity Card holders | ULB Identity Card + Aadhaar |
| Route 3 | Vendors missed in the ULB survey (started vending post-March 2020, or otherwise uncounted) | Letter of Recommendation (LoR) from ULB or Town Vending Committee (TVC), plus Aadhaar |
Route 3 is critical for vendors who began vending after the original 2020 survey baseline. It's often overlooked. If your ULB won't issue an LoR, you can approach the Town Vending Committee for an alternate LoR. Rejection of LoR without a written reason is challengeable.
Categories of street vendors covered include food vendors, vegetable sellers, fruit sellers, cobblers, pan shops, tea stalls, barbers, laundry, book stalls, textile sellers, kirana stalls, mobile hawkers, and equipment rental. Salaried employment disqualifies you. There is no income limit.
Documents required and how to apply
Documents required for the PM SVANidhi loan application:
- Aadhaar card (mandatory, linked to mobile number for OTP)
- Certificate of Vending or Identity Card or Letter of Recommendation (one of the three per your route)
- Bank account details (passbook or cancelled cheque)
- Recent photograph
- Mobile number linked to Aadhaar
Three application channels are available.
Online at pmsvanidhi.mohua.gov.in. Click "Apply Loan" for first-time applicants (the portal may still display older Rs. 10,000 labels temporarily). Log in with Aadhaar-linked mobile OTP. Fill vendor and business details. Upload documents. Submit. The application is routed to a nearby participating lender based on your PIN code. Median approval time: 15 to 30 days.
In-branch at a participating bank. Public sector banks (SBI, PNB, Bank of Baroda, Bank of India, Union Bank, Canara, UCO, Central Bank), most RRBs, cooperative banks, small finance banks, MFIs, and NBFCs participate. Walk in with documents. Median approval time: 20 to 45 days.
At a nearby Common Service Centre (CSC). For vendors without smartphones or digital literacy. The CSC operator does the online application on your behalf for a nominal fee (Rs. 60 to Rs. 100).
Typical rejection reasons: Aadhaar-bank name mismatch, mobile not linked to Aadhaar, LoR missing or incorrectly formatted, prior SVANidhi loan not fully repaid, or salaried employment record surfaced during KYC. Each is fixable; re-apply after correction.
Participating banks and lenders
Over 100 lending institutions participate in PM SVANidhi. The full lender list is published at pmsvanidhi.mohua.gov.in/Schemes/LenderList. The categories:
| Lender type | Examples | Notes |
|---|---|---|
| Public sector banks | SBI, PNB, Bank of Baroda, Union Bank, Canara, UCO, BoI, Indian Bank | Largest volumes |
| Private sector banks | HDFC, ICICI, Axis, Kotak, Federal | Smaller SVANidhi volumes but active |
| Regional Rural Banks (RRBs) | Aryavart, Baroda UP, Punjab Gramin | Strong in Tier 2 and rural-urban interface |
| Small Finance Banks | AU, Equitas, ESAF, Ujjivan | Fast processing for micro-loans |
| Cooperative banks | State and district cooperative banks | State-specific, check ULB partnerships |
| MFIs | Bharat Financial, Satin Creditcare, Spandana | Higher rates but faster in unbanked pockets |
| NBFCs | Bajaj Finance, Muthoot, Manappuram | Case-by-case, not universally SVANidhi-enabled |
Choose based on proximity, prior banking relationship, and processing speed in your area. Public sector banks are the default for first-time formal borrowers because subsidy transmission is fastest.
Digital cashback: how to earn up to Rs. 1,200 per year
PM SVANidhi beneficiaries who accept digital payments (UPI, RuPay debit card, Aadhaar-enabled Payment System) earn a cashback of Rs. 1 per accepted digital transaction, capped at 100 transactions per month.
Maximum yearly cashback: Rs. 1 x 100 transactions x 12 months = Rs. 1,200 per year. The cashback is credited directly to the vendor's bank account, quarterly.
Worked example. Ramesh, a fruit vendor in Pune, sets up a UPI QR code at his stall in July 2026. He accepts an average of 8 UPI transactions per day (approximately 240 per month, but the cap ties the incentive to 100). Cashback earned per month: Rs. 100. Cashback earned in year 1: Rs. 1,200. Cashback across the 3-year loan cycle (assuming continued digital acceptance): Rs. 3,600.
The cashback is on top of the 7% interest subsidy and is not clawed back if a loan tranche is delayed. Digital acceptance also strengthens the vendor's formal credit history and improves loan approval odds for the next tranche.
SVANidhi se Samriddhi: convergence with 8 welfare schemes
"SVANidhi se Samriddhi" is a companion initiative launched in January 2021 that maps SVANidhi beneficiaries to eight national welfare schemes for which they and their families are typically eligible but often unaware.
Convergence schemes under SVANidhi se Samriddhi:
- Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY). Rs. 2 lakh life cover at Rs. 436 annual premium.
- Pradhan Mantri Suraksha Bima Yojana (PMSBY). Rs. 2 lakh accident cover at Rs. 20 annual premium.
- Pradhan Mantri Jan Dhan Yojana (PMJDY). Zero-balance savings account with RuPay debit card.
- Ayushman Bharat (PM-JAY). Rs. 5 lakh family health cover for eligible households.
- Atal Pension Yojana (APY). Guaranteed pension of Rs. 1,000 to Rs. 5,000 per month after 60.
- Building and Other Construction Workers (BOCW) Board registration. State welfare board benefits including maternity, education, and injury cover.
- One Nation One Ration Card (ONORC) linkage. Portable ration entitlement across states for migrant vendor families.
- Janani Suraksha Yojana / Pradhan Mantri Matru Vandana Yojana. Maternity benefits for women vendors and vendor spouses.
Convergence enrolment happens during monthly Lok Kalyan Melas run by MoHUA at ULB level. Beneficiaries bring family members and get on-the-spot enrolment across the eight schemes through a joint camp model.
Six-year impact snapshot as of May 2026
The Ministry of Housing and Urban Affairs published a six-year data block on 30 May 2026 (PIB PRID 2266920). Headline numbers as of that date:
| Metric | Value | Source |
|---|---|---|
| Total vendors benefited | 75.5 lakh | PIB PRID 2266920, 30 May 2026 |
| Total loans disbursed | 1.12 crore | PIB PRID 2266920 |
| Total disbursement value | Rs. 17,800+ crore | PIB PRID 2266920 |
| Women beneficiary share | 46% | PIB PRID 2266920 |
| Marginalised community share | 70% (SC/ST/OBC/minorities) | PIB PRID 2266920 |
| First-time formal credit access | 95% | PIB PRID 2266920 |
| Average income growth | 20% per annum | PIB PRID 2266920 |
| Vendors digitally onboarded | 55 lakh+ | PIB PRID 2266920 |
| Digital transactions | 841 crore | PIB PRID 2266920 |
| Digital transaction value | Rs. 9 lakh crore (approx) | PIB PRID 2266920 |
| Digital cashback + interest subsidy paid | Rs. 800 crore | PIB PRID 2266920 |
State-wise ranking data has not been refreshed by MoHUA since the July 2024 SVANidhi Awards (won by Madhya Pradesh at #1). The scheme dashboard at pmsvanidhi.mohua.gov.in publishes running counts by state but no official 2026 ranking exists yet. Bihar, Uttar Pradesh, Andhra Pradesh, and Maharashtra continue to hold top-5 positions on absolute vendor count. A refreshed award cycle is expected in FY 2026-27.
How to check application and disbursement status
Once you've submitted a PM SVANidhi application, you can track its progress through three channels.
pmsvanidhi.mohua.gov.in beneficiary login. Visit the portal, click "Applicant Login" on the top navigation, and log in with your Aadhaar-linked mobile number and OTP. The dashboard shows current application stage (submitted, lender-assigned, KYC in progress, sanctioned, disbursed, or rejected), assigned lender name and branch, and any pending action from you. If your application has been stuck at the same stage for over 30 days, use the "Escalate" button on the dashboard which routes the case to the MoHUA nodal officer.
Direct with the assigned bank branch. Once your application is lender-assigned, you can walk in to the branch with your application reference number and Aadhaar for an in-person status check. Branch officers can see backend workflow states that the portal doesn't always surface, including which specific KYC document is under review.
Helpline 1800-11-6446 (PM SVANidhi toll-free). Available Monday to Saturday, 9:30 AM to 6:00 PM. Have your application reference number ready. The helpline can escalate stuck applications, clarify KYC issues, and answer questions on tranche 2 or tranche 3 eligibility timing.
Disbursement, once approved, typically credits to your bank account within 3 to 7 working days. The 7% interest subsidy reflects as a separate quarterly credit line item labelled "PM SVANidhi Interest Subsidy" in your passbook. If the subsidy doesn't credit within 45 days of a quarterly close, raise a complaint through the portal's grievance module.
Common rejection reasons and how to fix them
Rejection rates on PM SVANidhi applications hover around 12% to 18% across states, per the 30 May 2026 PIB briefing. The five most common reasons and their fixes:
- Aadhaar not linked to your mobile number. OTP-based eKYC fails at submission. Fix: visit any nearby UIDAI enrolment centre or CSC to link your current mobile number to Aadhaar, then re-apply after 48 hours.
- Missing Letter of Recommendation (LoR) for Route 3 vendors. The ULB or TVC hasn't issued an LoR, or the LoR is on incorrect stationery. Fix: use the standardised LoR template published at pmsvanidhi.mohua.gov.in/Downloads and get it signed by the ULB Vending Cell in-charge.
- Bank account name mismatch with Aadhaar. Aadhaar shows "Ramesh Kumar" but the bank passbook shows "R Kumar" or a spelling variant. Fix: update your bank record to match the exact Aadhaar spelling before re-applying.
- Existing SVANidhi loan not fully repaid. You applied for tranche 2 or tranche 3 while tranche 1 has arrears. Fix: clear arrears with the assigned bank, wait 45 days for the closure to reflect in the credit bureau, then re-apply.
- Salaried employment record surfaced during KYC. If EPFO or ITR records show you as a salaried employee in the last 12 months, the application gets rejected. Fix: PM SVANidhi is street-vendor-specific; if you have been salaried, you'll need to demonstrate a genuine shift to street vending with a fresh CoV or LoR dated after employment termination.
Rejection is not permanent. After correcting the underlying issue, you can re-apply on the same portal with the same Aadhaar. Median time from rejection to successful re-application is 30 to 60 days.
Frequently asked questions
Structured FAQ data with FAQPage JSON-LD is rendered in the FAQ block below the article. A few highlights:
Is PM SVANidhi still open in July 2026? Yes. Cabinet extended the scheme till 31 March 2030 on 27 August 2025 (PIB PRID 2161157). The current tranche amounts under PM SVANidhi 2.0 are Rs. 15,000, Rs. 25,000, and Rs. 50,000.
Am I eligible if I started vending after March 2020 and was never surveyed? Yes, via Route 3. You need a Letter of Recommendation from your ULB or Town Vending Committee. Missed-survey vendors are explicitly covered.
What is the effective interest rate after the 7% subsidy? Roughly 5% per annum. The bank charges its standard rate (12% to 13%), and the government reimburses 7 percentage points via quarterly subsidy credit to your bank account.