PM Svanidhi Yojana Apply Online 2024: This scheme has been started by the government for small traders who have set up Pradhan Mantri Swanidhi Yojana. Under this scheme, small traders can get loan from Rs 10000 to Rs 50000 to increase their business and improve their financial condition. This loan is given to such traders who are ready and do business on a small scale.
PM Svanidhi Yojana 2024 Overview
| Post Name | PM Svanidhi Yojana Apply Online 2024 |
|---|---|
| Name of the Scheme | PM Svanidhi Yojana 2024 |
| Beneficiaries | Small Traders and Street Vendors |
| Loan Amount | Maximum ₹50,000 |
| Interest Subsidy | Up to 7% |
| First Installment | ₹10,000 |
| Eligibility | Ready Traders |
Objective of PM Svanidhi Yojana 2024
Under this scheme, the government of Prime Minister Narendra Modi wants to make the small traders financially strong, hence an amount ranging from ₹ 10000 to ₹ 50000 is given to them to further their small business, the purpose of which is that the traders who sell vegetables, fruits, etc. Or they prepare for other things and earn their living and these people are not even given loan by the bank because they do not have any property. In view of this problem, the Prime Minister has started PM Svanidhi Yojana.
Benefits of Pradhan Mantri Svanidhi Yojana
There are many benefits of this scheme, some of the benefits are as follows
1. Easy loan availability: Under this scheme the applicant easily gets loan to pursue his business.
2. ₹ 10,000 in first installment: Under this scheme, the applicant is given a loan of ₹ 10,000 in the first installment.
3. Interest Subsidy: And if the beneficiaries repay the loan taken on time to further their business then they are also given a subsidy of up to 7%
4. Payment without penalty: If the beneficiary repays the loan taken on time then no additional fee or penalty is imposed on his payment.
5. Loan up to Maximum ₹ 50,000: If the applicant deposits all the installments correctly then the loan amount is increased to ₹ 50000.
Eligibility for PM Svanidhi Yojana 2024
To avail the benefits of this scheme, it is mandatory for the beneficiary to be a sweets vendor, who does business by setting up a cart or ready to earn his living and support his family. This includes selling vegetables, fruits, food, tea shop, betel leaf etc. All those selling shops or other clothes are included
Documents for PM Svanidhi Yojana 2024
To avail the benefits of this scheme, it is mandatory for the applicant to have all these documents.
- Aadhar card
- PAN card
- bank account
- income certificate
- Address proof
- Mobile number (which is linked to Aadhaar card)
Application process of Pradhan Mantri Svanidhi Yojana Offline –
If you want to take advantage of this scheme then you have to follow this process step by step.
1. Go to a government bank
2. Get the application form of Pradhan Mantri Swanidhi Yojana
3. Fill the required information in the form and attach photocopies of the documents
4. After submitting the form, your document will be verified.
5. After verifying the document, the amount will be deposited in your account.
Pradhan Mantri Svanidhi Yojana Application Process Online
1. Visit this website https://pmsvanidhi.mohua.gov.in/
2. Then you have to click on Apply LoR Loan
3. After filling your mobile number, click on the request OTP, which is the same mobile number which is linked to your Aadhaar card.
4. After this, a verification OTP will come on your mobile number, after submitting it, click on Verify OT.
5. You will see a page like this in which your Aadhaar verification has been verified.
6. In this you have to fill all the information like your state, district, tehsil, municipal corporation etc. and click on the submit button.
7. In this you have to select your mobile number, gender, social category etc. and proceed further.
8. After this you have to enter the Voter ID card number in the KYC documents and add your family members in it.
9. After this you have to fill your current address where you are living and doing your business.
10. After this, fill in the number of days you keep your shop or your ready in flour, and along with this, also record for how long your shop remains open.
11. After this you have to fill your monthly income.
12. Now the bank details of the applicant also have to be filled. In which bank the applicant has an account, fill all the information like IFSC CODE, Branch Name, BAnk Account Number, etc.
13. After this, you have to tell whether you have any ongoing loan or not. If you have any ongoing loan then it has to be filled and if not then leave it blank.
14. You also have to tell why you want to take the loan.
15. Now finally submit your form.
16. Now after this you will have to upload a document which will be the statement of your account and it is uploaded so that the amount deposited in your account is not transferred anywhere else.
17. After this, after selecting Submit Your Application to Your Preferred Lender, you have to select your bank name, select your branch name, and click on the option of I Agree.
18. Click on Submit option
19. The applicant’s application will be successfully submitted and an application number will be given to the applicant
20. After checking the information given by you, the applicant’s form is approved.
FAQs of PM Svanidhi Yojana
What is the main objective of Pradhan Mantri Swanidhi Yojana?
The main objective of Pradhan Mantri Samman Nidhi Yojana is to strengthen the poor and small traders financially and to expand their business so that they can earn a good living for themselves and their families.
What is the maximum amount that can be received under Pradhan Mantri Swanidhi Yojana?
The maximum amount given under Pradhan Mantri Swanidhi Yojana is up to ₹50000
Is there a penalty for premature repayment of Pradhan Mantri Swanidhi Yojana loan?
If the beneficiary deposits the run of this scheme before time then he does not have to pay any additional fee or penalty.
Is the benefit of interest subsidy available under Pradhan Mantri Swanidhi Yojana?
In this scheme, if the applicants deposit the payment on time, they get interest subsidy of up to 7%.
Where can one apply for Pradhan Mantri Swanidhi Yojana?
You can apply for Pradhan Mantri Swanidhi Yojana by visiting the bank or you can apply online by visiting this website.