PM Swanidhi Scheme: The government is giving loans without guarantee to start a business, apply like this
PM Swanidhi Scheme: Many ambitious schemes are being run by the government for the people. In this episode, the government is running a scheme for small workers. Under this scheme, small workers can start their businesses. The government will give loans to the workers without any guarantee.
One of these schemes is PM Swanidhi Yojana, in which small workers are provided loans without guarantee to open their businesses. So far, loans have been provided to more than 63 lakh workers under this scheme. An amount of Rs 11 thousand crore has been distributed to these beneficiaries in the form of a loan.
Let us tell you that the PM Swanidhi Yojana was started by the Modi government at the Center to promote self-reliance and self-employment among street vendors during the Corona period. Through this scheme, people working as street vendors or doing small business can easily get loans and expand their businesses. Under this scheme, loans ranging from Rs 10 to Rs 50 thousand are given.
What is PM Swanidhi Yojana?
PM Swanidhi Yojana has been run by the central government. Thus, last week PM Modi distributed loan amounts under this scheme to about one lakh eligible persons from other states including Delhi. Under this scheme, small businessmen can expand their business by taking short-term loans.
You can start small work by taking a loan. This scheme was started in 2020 during the Corona period for people doing small work on street vendors and carts so that they can start their businesses again. Let us tell you that many people lost their jobs due to Corona, at that time this scheme proved to be very helpful for small workers.
Benefits of PM Swanidhi Yojana
It is especially given to small and marginal traders who work on a street vendor or cart or do small business to grow their business. Any small or medium-level trader can avail the benefits of this scheme.
No guarantee is required for the loan
If you take a loan from a bank, then the bank asks you for a guarantee for it, but if you take a loan under PM Swanidhi Yojana, then you do not need to give any guarantee. You can take this loan from the bank without any guarantee. Under this scheme, any small businessman can get a loan ranging from Rs 10,000 to Rs 50,000.
How is a loan given under PM Swanidhi Yojana?
If you take a loan under PM Swanidhi Yojana for the first time, then you are first given a loan of Rs 10,000 under this scheme. If you repay this loan on time, then you are given a loan of Rs 20,000 for the second time.
If you repay this also on time, then you can take a loan of Rs 50,000 for the third time. Thus, first, a small loan is given, and if the loan is repaid on time, the loan amount increases.
How much interest is charged on the loan under PM Swanidhi Yojana
Under PM Swanidhi Yojana, the interest rate on the loan has been fixed at 7 percent. Under this scheme, if you take a loan from the bank, then you will have to pay 7 percent interest. But those who repay the loan before time get this 7 percent interest subsidy.
In such a situation, they will not have to pay any interest. But if the beneficiary does not repay the loan on time, then he has to pay interest and penalty at the rate of 7 percent along with the principal amount as per the rules. The thing to keep in mind here is that in this scheme, the benefit of interest subsidy is given only up to a loan of Rs 10,000.
How to apply for PM Swanidhi Yojana
If you also want to take advantage of PM Swanidhi Yojana, then for this you have to go to the nearest government bank in your area and get the application form of Swanidhi Yojana from here. After this, fill in all the information asked in the form correctly attach the necessary documents, and submit the form back to the same bank from where you have taken the form.
The application form and documents filled by you will be checked by the bank officer. If everything is fine, the loan amount will be transferred to your bank account. For more information about PM Swanidhi Yojana, you can visit the official website of this scheme.
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