PM Svanidhi Scheme: This loan is available without guarantee, you can also start business by taking it | Education

PM Svanidhi Scheme: This loan is available without guarantee, you can also start business by taking it | Education

Pradhan Mantri Svanidhi Yojana has been started for those people who used to do small jobs before the corona epidemic, but due to the lockdown, the business got ruined.  Such people can take a loan under this scheme without guarantee and interest


  • This scheme started for street vendors
  • This plan will end next month

Due to the Corona epidemic, the problem of unemployment was seen on a large scale in the country.  Especially for the people doing small business, this epidemic came as havoc. This epidemic destroyed the entire business of such people earning as daily wage laborers.

To help such people, the central government started a special scheme PM Svanidhi Yojana, which is going to end soon.  To start a new employment in this government scheme, a loan of up to 10 thousand rupees is given without guarantee.

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PM Svanidhi Scheme: Hurry up, the scheme is ending

The goal of the Modi government’s ambitious ‘Pradhan Mantri Svanidhi Scheme’ is to give one more chance to start employment to people who have lost business due to the epidemic.  Its benefit can be availed by every person who was doing any employment before the start of the epidemic (24 March 2020).  This scheme is ending in the next month i.e. March 2022.  If you are eligible to take advantage of this scheme and you have not applied for it yet, then you do not have much time now.

PM Svanidhi Scheme: These things make the scheme special

To get the benefit of PM Svanidhi Yojana, it is mandatory for the applicant to have an Aadhar card.  The special thing about this scheme is that no interest is charged on the loan received under it.  There is no need to give any guarantee for this loan.  Once the application is approved, the loan amount is transferred in installments over 3 months.  It can be repaid in installments every month during 1 year.

READ MORE: Education Loan: Application Process, Education Loan Scheme, Documents, and Important Factors

PM Svanidhi Scheme: How to apply for loan

To take advantage of PM Svanidhi Yojana, an application can be made in any government bank.  The form of this scheme is available in all government banks.  You go to the bank and take the scheme form and fill it.  Along with this, you will have to attach a photocopy of your Aadhar card.  As soon as the application is approved, the first month’s installment will come in your account.

So many people got loan by PM Svanidhi Scheme

So far 42.89 lakh applications have been found eligible for the first term under PM Svanidhi Yojana.  Out of these, loans of 32.13 lakh people have been sanctioned.  Banks have transferred the loan amount in the account of 28.57 lakh people.  Out of these, 4.44 lakh people have also paid the loan installments.  According to the information given on the portal of the scheme, applications of 8.46 lakh people have also been rejected under this.

Source: AajTak, Direct News 99

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