The central government is offering the PM Svanidhi Credit Card to street vendors. With this credit card, you can easily meet your daily needs.
The PM Svanidhi Yojana aims to provide easy, unsecured loans to street vendors. Under this scheme, eligible street vendors can avail loans up to 50,000 rupees without guarantee. A credit card has also been launched under this scheme.
PM Svanidhi Credit Card
Under the PM Svanidhi Yojana, eligible individuals are being offered RuPay credit cards. Street vendors can now avail of this credit card and repay their payments interest-free within 20 to 50 days. It works just like a regular credit card.
The PM Svanidhi Credit Card provides street vendors with credit, helping them grow. Street vendors can avail of credit up to ₹30,000. This credit card is valid for 5 years and can also be linked to UPI.
Best of all, applicants can convert their credit card payments into EMIs, making repayment easier. However, EMIs do require interest of up to 1.5%.
Eligibility for making PM Swanidhi Credit Card
If you have already taken out a third loan under PM Svanidhi, you can apply for a credit card. Applicants must be between 21 and 65 years of age. If you are a defaulter, you will not receive the credit benefit.
Documents for PM SVANidhi Credit Card
To take advantage of the Svanidhi Credit Card, you can register by visiting the official website. Certain important documents are required during registration, without which you will be unable to apply.
- Aadhaar Card
- PAN Card
- Certificate of Vending (CoV), Letter of Recommendation (LoR)
- Savings Bank Account Number
- Residence Certificate, if the address is different from the Aadhaar card
How to apply for PM Swanidhi Credit Card
We’ll explain the complete process below to help you apply for a PM Svanidhi credit card.
STEP-1
- First, visit the PM Svanidhi portal at https://www.pmsvanidhi.mohua.gov.in/.
- If you wish, you can also download the PMS Mobile App on your mobile.
- On the portal, click on Apply for Credit Card.
- Now, enter your mobile number and the OTP received to login.
STEP-2
- You will now be asked for your Aadhaar card.
- You must select one of three vendor categories and verify it with the corresponding registration number.
- Next, fill out the application form and upload the required documents.
- Choose the bank where you have an account. If your bank does not issue credit cards, you can choose another bank.
- It is very important to complete eKYC through biometric verification using your Aadhaar number.
The PM SVANidhi Credit Card can only be used for essential purposes. It cannot be used for purchasing alcohol, booking travel tickets, renting cars, or conducting digital business transactions. For more information, visit the official website.
My name is Neha Arya and I’m the founder of Latestsarkariyojana. On this blog, I share information about government schemes, online forms, important documents, government jobs, and digital services. My goal is to raise awareness and help people access the benefits of government schemes.