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PM SVANidhi Bank Login: Complete Guide to Application Status, Loan Apply Online, and More

The PM SVANidhi (Prime Minister Street Vendor’s AtmaNirbhar Nidhi) scheme was launched by the Government of India to provide financial support to street vendors during challenging times. Through this scheme, street vendors can access loans of up to ₹20,000 to help them rebuild and sustain their businesses. A vital aspect of this scheme is the ease of managing the application process through the PM SVANidhi Bank Login portal. This article will provide you with a comprehensive guide on how to navigate the PM SVANidhi login process, check application status, apply for loans, and much more.

What is PM SVANidhi Scheme?

The pm svanidhi bank login (Prime Minister Street Vendor’s AtmaNirbhar Nidhi) scheme was introduced by the Government of India in June 2020. It aims to provide working capital loans to street vendors who were adversely affected by the COVID-19 pandemic. The scheme offers loans of ₹10,000 for the first tranche, and up to ₹20,000 in subsequent tranches upon timely repayment.

Key Features:

• Initial Loan: Up to ₹10,000.
• Subsequent Loan: Up to ₹20,000 on timely repayment.
• Interest Subsidy: 7% annual interest subsidy on timely repayment.
• Digital Payments: Encourages digital transactions and rewards them with cashback.

Benefits of PM SVANidhi Scheme

The pm svanidhi bank login scheme is packed with several benefits that help street vendors get back on their feet:

Benefit	Description
Collateral-free Loan	No collateral is required to apply for the loan.
Interest Subsidy	Receive a 7% interest subsidy annually on timely repayment.
Digital Transactions	Vendors are encouraged to use digital transactions and get cashback rewards.
Second Loan Availability	After repayment of the first loan, vendors can apply for a higher loan of ₹20,000.
No Middlemen	Direct application via banks without the need for agents.

PM SVANidhi Bank Login Process

The PM SVANidhi Bank Login is a crucial part of the process for both applying for a loan and tracking the status of the loan application. Follow these steps for a smooth login experience:

Step-by-Step Guide to PM SVANidhi Bank Login:

1. Visit the official PM SVANidhi portal or the respective bank’s PM SVANidhi page.
2. Look for the Login or Sign In option on the homepage.
3. Enter your registered mobile number or email address.
4. Input your password and complete the CAPTCHA verification.
5. Click on Login.

Once logged in, you can check the status of your application, apply for a new loan, and manage your account details.

Read Also: Qandle Login: A Complete Guide to Accessing Your HRMS Platform

How to Check PM SVANidhi Loan Application Status

After applying for the PM SVANidhi loan, it’s crucial to track the progress. The PM SVANidhi loan application status can be checked via the official portal.

Steps to Check Loan Application Status:

1. Login to the PM SVANidhi portal.
2. Navigate to the Loan Status section.
3. Enter your Application ID or Registered Mobile Number.
4. Click on Submit.
5. The application status, whether it is under review, approved, or disbursed, will be displayed.

PM SVANidhi Loan Apply Online

The process to apply online for a PM SVANidhi loan is straightforward. Here’s how you can do it:

Step-by-Step Guide to Apply Online:

1. Visit the PM SVANidhi official website.
2. Click on the Apply for Loan option.
3. You will be redirected to a new page where you need to fill in your personal details like name, address, and Aadhaar number.
4. Upload the necessary documents, such as your Aadhaar Card, Street Vendor Certificate, and Vendor ID Card.
5. Select the Loan Amount you wish to apply for.
6. Submit the application for review.

After submission, you will receive a confirmation message on your registered mobile number and email.

PM SVANidhi Loan Application Form

The PM SVANidhi loan application form is the key to securing a loan under this scheme. The form requires specific information about the vendor’s business and personal details. Here’s a quick overview of the details that need to be filled out:

Section	Information Required
Personal Details	Name, Date of Birth, Aadhaar No.
Vendor Details	Street Vendor Certificate, Vendor ID
Business Details	Nature of Business, Location, Type of Goods Sold
Loan Details	Loan Amount (₹10,000 or ₹20,000)
Bank Details	Account No., IFSC Code, Branch Name

Steps to Apply for ₹20,000 Loan under PM SVANidhi

For vendors who have successfully repaid the first loan of ₹10,000, the PM SVANidhi 20,000 loan can be applied for. Here’s how you can proceed:

1. Login to the PM SVANidhi portal.
2. Under the Loan Application section, choose the option to apply for a higher loan.
3. Fill out the form with updated business information and previous loan repayment details.
4. Select ₹20,000 as the loan amount.
5. Submit the form and wait for confirmation.

The process for the second loan is similar to the first, but timely repayment is mandatory to qualify.

PM SVANidhi Login App

The PM SVANidhi Login App makes it easier for street vendors to access the scheme’s services directly from their smartphones. With this app, vendors can apply for loans, check their application status, and manage repayments.

Key Features of PM SVANidhi Login App:

• Easy Registration: Vendors can register using their mobile numbers and Aadhaar details.
• Loan Application: Apply for loans directly via the app.
• Application Tracking: Check the status of the loan application.
• Digital Transactions: Use the app for digital transactions and earn cashback.

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