PM Svanidhi Yojna: The government is running many types of schemes for the common people, which the common people are also getting the benefit of. Similarly, the government has started a scheme for the common people. The name of this scheme is PM Svanidhi Yojana. Many people want to start their small businesses, and they are given a loan by the central government. They can start their business with this loan. This is a microcredit scheme. Under this scheme, people are given Rs 80,000, which is given in three installments. The best thing is that this business loan is given without any guarantee. Let’s know about it in detail.
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A loan of Rs 80 thousand is given in three installments
The Modi government of the country started this scheme during the COVID-19 pandemic. People were in trouble during the coronavirus pandemic. The government started the PM Svanidhi Yojana to start their work by giving financial help to the street vendors. Under this scheme, the government gives Rs 80,000 in three installments. Under this, 10, 20, and 50 thousand rupees are given in three installments. But it is necessary to build credibility to take this loan.
How to take advantage of the PM Svanidhi Yojana
It is necessary to build credibility to take full advantage of the PM Svanidhi Yojana. If anyone applies to this government scheme to start their own business, then, according to the rules, the government will first give Rs 10,000. If he repays this amount under the scheme, then he can get a loan of Rs 20,000. After repaying this loan, a loan of Rs 50,000 will be available. You can start your business with this amount.
How to get a loan under the scheme
There is no need to give any kind of guarantee to take a loan under the PM Svanidhi Yojana. Just the money given by the government has to be repaid within the stipulated time. If we believe the rules of the scheme, then the loan given under the PM Svanidhi Yojana has to be repaid within one year. The amount taken under the scheme is repaid in one year. You also get the facility of EMI in this. This means that the loan amount can be repaid in easy installments every month. Just an Aadhaar Card is required to take advantage of this.
Subsidy is available on the interest of the loan
The number of people taking loans under the PM Svanidhi Yojana is increasing. It is very easy to take a loan under this scheme. To take a loan under this scheme, you can apply by going to any nearest government bank. After applying, it is checked by the Urban Local Body (ULB), and your eligibility and the information given are confirmed.
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After verification of the application, ULB issues a recommendation letter to the concerned financial institution or bank, and the bank also reviews the application at its level and approves the loan. After this, the loan amount will be transferred to the bank account. There is another benefit under this scheme. Under this scheme, a subsidy of 7 percent is available on the interest of the loan.