PM Svanidhi Yojana 2024: Government is giving loan up to ₹ 50000 to start small business, apply like this

 PM Svanidhi Yojana 2024: Pradhan Mantri Svanidhi Yojana is being operated for common traders and citizens who set up readymade shops , under which they are provided loans to take the business forward. Small and low-level traders of the country who set up readymade shops or do small business are eligible to apply to avail the benefits of this scheme.

This scheme provides small-scale loans to expand the business and only small and intermediary level traders can avail this benefit. How will you get the benefit of Pradhan Mantri Swanidhi Yojana 2024 and what is the application process to avail the benefit? Stay connected with us till the end to know.

Prime Minister Swanidhi Yojana Loan Subsidy

Under the Pradhan Mantri Swanidhi Yojana, a loan of up to Rs 50,000 is made available to the beneficiaries at a cheap interest rate and the benefit of interest subsidy is also given. If an applicant repays the loan taken under this scheme before time, then he is given an interest subsidy of up to 7% and also does not have to pay any penalty.

Who will get the benefit of PM Swanidhi Yojana?

The benefit of PM Swanidhi Yojana 2024 is mainly given to street vendors. Under this scheme, citizens selling vegetables, food items or doing business by setting up ready-made stalls of other things can apply. The loan amount received under the Pradhan Mantri Swanidhi Yojana is received in different installments. Under the scheme, ₹ 10000 is received in the first installment, if the applicant repays this loan, then he gets ₹ 20000 in the next installment and the additional amount is given after repaying this loan.

Benefits and Features of Pradhan Mantri Swanidhi Yojana

• Under the Pradhan Mantri Swanidhi Yojana, the government provides loans to street vendors to expand their business.
• Under this scheme, ₹10,000 is given in the first installment and a maximum of ₹50,000.
• If the applicant repays the loan before time, he gets subsidy on interest and does not have to pay any penalty.
• The benefits of this scheme are being used to encourage small businesses so that the lifestyle of street vendors can change.

Documents required for PM Svanidhi Yojana

For PM Swanidhi Yojana, you will need some important documents which are as follows –

1. Aadhar card
2. PAN card
3. Bank Account
4. Income Proof
5. Residence Certificate etc.

How to apply to avail the benefits of Pradhan Mantri Swanidhi Yojana?

If you want to apply under Pradhan Mantri Swanidhi Yojana , then for this you have to go to any nearest government bank and ask for an application form for PM Swanidhi Yojana. You have to enter all the information asked in that application form correctly and submit it along with all the documents. After this all your documents will be checked, if everything is found correct then your loan will be approved and in some time the loan amount will be transferred to your account.

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