Interest subsidy: 7% per annum — credited to your account quarterly
Collateral: None required
Apply via: Jan Samarth portal (jansamarth.in) or directly at bank/MFI
Who is Eligible for PM SVANidhi?
Street vendors who were vending in urban areas on or before 24 March 2020
Must have a Certificate of Vending issued by Urban Local Body (ULB) OR a Letter of Recommendation (LoR) from ULB/Town Vending Committee
Vendors from peri-urban and rural areas supplying urban areas also eligible
Any type of street vendor — vegetables, fruits, food, garments, repair services, etc.
Vending Certificate kaise milega? Contact your nearest Municipal Corporation (Nagar Palika / Nagar Nigam). They maintain a list of registered street vendors under the Street Vendors Act 2014. If not registered, you can get a Letter of Recommendation from the Town Vending Committee.
Loan Amounts and Progression Under PM SVANidhi
Loan Stage
Amount
Condition
Interest Subsidy
1st Loan
Rs 10,000
First-time applicant
7% p.a. credited quarterly
2nd Loan
Rs 20,000
1st loan repaid on time
7% p.a. credited quarterly
3rd Loan
Rs 50,000
2nd loan repaid on time
7% p.a. credited quarterly
💡 Digital payment bonus: Vendors who make digital transactions (UPI, QR code) get additional cashback rewards under PM SVANidhi. This is credited automatically — no separate application needed. Using PhonePe or Google Pay for collections qualifies.
Documents Required for PM SVANidhi
Aadhaar card
Certificate of Vending or Letter of Recommendation from ULB
Bank account linked to Aadhaar
Passport-size photograph
Mobile number (for OTP)
⚠️ No income proof is required. No collateral. No guarantor. The Vending Certificate or LoR is the most important document.
How to Apply for PM SVANidhi via Jan Samarth — Step by Step
1
Visit jansamarth.inGo to official Jan Samarth portal. Select Livelihood category and then PM SVANidhi.
2
Check eligibilityAnswer simple questions about your vending status and location to confirm you qualify.
3
Register with Aadhaar OTPCreate account using Aadhaar-linked mobile. Aadhaar eKYC completes identity verification.
4
Upload Vending Certificate or LoRThis is the critical step. Upload a clear photo or scan of your vending document.
5
Select lenderChoose from participating banks, cooperative banks or MFIs in your area. SBI, Bank of Baroda, UCO Bank and major MFIs are on the portal.
6
Application submittedThe lender reviews and disburses directly to your bank account. Typical processing: 7–14 days.
Which Banks and MFIs Disburse PM SVANidhi?
Scheduled Commercial Banks: SBI, Bank of Baroda, Punjab National Bank, UCO Bank, Canara Bank
Regional Rural Banks: Available in rural/semi-urban areas
Microfinance Institutions (MFIs): Bandhan Bank, Ujjivan, ESAF, CreditAccess Grameen
Cooperative Banks: State and district cooperative banks
NBFCs: Selected NBFCs approved by Ministry of Housing
Typically 7–14 working days from complete application submission. MFIs often process faster than banks. The lender verifies your vending certificate, bank account and Aadhaar before disbursing.
Yes. You can apply directly at the nearest SBI, Bank of Baroda or other participating bank branch with your vending certificate and Aadhaar. The Jan Samarth portal is the digital alternative. Both routes lead to the same loan.
If you were vending before 24 March 2020 but do not have a vending certificate, approach your Urban Local Body (Nagar Palika) and request a Letter of Recommendation. This LoR is accepted in place of a certificate for PM SVANidhi.
PM SVANidhi is primarily for urban street vendors. However, vendors from peri-urban and rural areas who supply goods to urban markets are also eligible. Check with your nearest Municipal Corporation.
⚠️ Disclaimer: All scheme details are based on publicly available information from official government portals as of June 2026. Eligibility criteria, subsidy amounts and processes may change. FinMandi is an independent information platform and is not affiliated with the Government of India or any bank. Always verify current scheme details on the official portals before applying.