PM SVANidhi

Introducing the PM SVANidhi - Official Mobile Application, the ultimate solution for Lending Institutions. This app will revolutionize the loan application process for beneficiaries, making it easier and more efficient than ever before. With the launch of PM Street Vendor's AtmaNirbhar Nidhi, street vendors can now access collateral-free working capital loans of up to ₹10,000 to help them restart their businesses. To encourage good repayment behavior and digital transactions, the scheme offers incentives such as interest subsidies and cash-back rewards. What's more, NBFCs and MFIs are now included as Lending Institutions, ensuring maximum reach and accessibility. Don't miss out, download the app now and take advantage of this incredible opportunity. For more information, visit our website.

Features of PM SVANidhi:

❤ Quick and Convenient Loan Application Process: PM SVANidhi App offers an end-to-end solution, allowing lending institutions to process loan applications of street vendors through their field agents. This ensures a quick and convenient process, saving the vendors' time and effort.

❤ Collateral-Free Working Capital Loan: Street vendors can avail a collateral-free working capital loan of up to ₹10,000 for a tenure of 1 year. This loan can help them resume their businesses and overcome any financial challenges they may be facing.

❤ Incentives for Good Repayment Behavior: To promote good repayment behavior and digital transactions, the scheme offers incentives in the form of an interest subsidy of 7% per annum and cash-back of up to ₹100 per month. These incentives encourage street vendors to repay their loans on time and adopt digital payment methods.

❤ Enhanced Loan Opportunities: The scheme includes not only banks but also NBFCs and MFIs as lending institutions. This expansion maximizes the reach of the scheme, ensuring that more street vendors can access the loans they need to grow their businesses.

Tips for Users:

❤ Download the app: To get started, download the app on your mobile device. It is available on both Android and iOS platforms.

❤ Fill out the Loan Application: Use the app to fill out the loan application form with all the necessary details. Make sure to provide accurate information to expedite the loan approval process.

❤ Submit Required Documents: Upload the required documents, such as proof of identity, address proof, and business details, through the app. Ensure that the documents are clear and complete to avoid any delays in loan processing.

❤ Stay Updated on Repayment: The app provides regular updates on your loan repayment schedule and incentives earned. Stay informed and make timely repayments to benefit from the interest subsidy and cash-back incentives. Consider setting reminders to ensure you don't miss any payment deadlines.

Conclusion:

With its quick and convenient loan application process, collateral-free loans, incentives for good repayment behavior, and enhanced loan opportunities, the app provides a comprehensive solution to support the financial needs of street vendors. Download PM SVANidhi today and take advantage of this scheme to resume and boost your business. Remember to stay updated on loan repayments and maximize the benefits offered by the scheme.