What is PM Svanidhi Yojana in which you get loan at cheap rate, you should also help any needy

Pradhan Mantri Svanidhi Yojana is such a scheme knowing that you can help someone and do something for those affected during the Corona period who have lost their employment. Many people will be found around you who would have used streetcars, tracks or handcarts, but due to the difficulties of the past, their work must have stopped or it must have been affected. Actually, PM Svanidhi Yojana is an effective scheme for such people, in which they are given a loan of up to 10 thousand rupees.

Know about PM Svanidhi Yojana
The full name of this scheme is Street Vendors Atmanirbhar Nidhi (PMSVANidhi) which is in the form of micro credit loan or micro credit facility for roadside handcart, street vendors, peddlers, dumpers. In this, a loan of up to 10 thousand rupees can be taken and if the hawkers want to take this loan, then they can take a loan without guarantee. There is also a provision of subsidy in this loan given for one year, under which if you repay the loan ahead of time, you get interest or interest rate subsidy at the rate of 7 percent per annum. On the other hand, if you want to repay the loan digitally, then you can also be given a cashback of Rs 1200 in a year. Obviously, for this, the applicant of the loan will have to take the help of someone who has knowledge of digital medium.

How to get the benefit of 7 percent subsidy
The borrower will have to repay this loan in installments in a year and those who repay it on time will have an annual interest subsidy of 7 percent transferred to their account.

Hurry apply
If you know any person who is suitable for this help, then tell him that this loan is only for 50 lakh people and according to the official website of this scheme, 29,26,790 people have got first term loan so far. So on the other hand 27,536 second term loans have also been obtained.

Important things to keep in mind
First of all, the mobile number of the borrower must be linked with Aadhaar.
This loan will be available to only those people who were engaged in such work on or before 24 March 2020.
The plan period of this loan is only till March 2022, so those who need it should complete the process of taking loan in the coming 4 months.
Street vendors whether urban or semi urban, rural, can get this loan.
The subsidy is available on the interest of this loan, it is directly transferred to the borrower’s account on a quarterly basis.

Know about websites for availing loan
To get all the information about this scheme, you can go to https://pmmodiyojana.in/svanidhi-yojana/ or go to pmsvanidhi.mohua.gov.in to understand the process of applying for the loan. So you too can help any needy and become a financial support for them.

HDFC Bank also came forward
HDFC Bank has started micro credit facility in rural areas or villages under PM Svanidhi Yojana, through which more people will now be able to come under this facility. Now people in rural or rural areas will be able to apply for a loan from the Common Service Center (CSC). Certainly this can be called a good initiative because most of the benefits of government schemes are available only through government banks.

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