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PM SVANidhi Yojana News Update: You are a small businessman. You need money urgently for working capital. But you have nothing to guarantee. In such a situation, it may be difficult for you to take a loan. If you go to local moneylenders or any micro finance company, you can get trapped in the web of terrible loans at high interest. In such a situation, a loan scheme of the Government of India can be very helpful for you. You do not need to give anything as guarantee for this loan scheme. You can get an instant loan just by showing your Aadhar card. That too, an amount of up to Rs 80 thousand can be available in three installments. To repay this, easy installments have been fixed at very low interest rates. This is especially beneficial for people who are going to start a small business for the first time. The pattern of this scheme has been prepared keeping in mind the flow of working capital of those setting up roadside shops. The name of this scheme is PM Swanidhi Yojana.
This is how the loan starts
As soon as you apply for this loan through the online platform, you get Rs 10,000 as working capital. As soon as you repay it, you get the second installment of Rs 20 thousand as loan. Then after paying the second installment, the third installment of Rs 50 thousand is received.
Annual cashback of Rs 1200 also
Under PM Swanidhi Yojana, interest subsidy at the rate of seven percent is also given. Apart from this, to promote digital transactions, cash back of Rs 1200 is also provided annually. The benefits of the scheme are availed through urban bodies. The application process also has to be completed there.
Also read: EPFO UAN KYC: Submit only three documents, your name in EPFO’s UAN will be corrected instantly.
