PM Vishwakarma Yojana: Loan of Rs 3 lakh without guarantee, only 5% interest will have to be paid..
| Feb 26, 2025, 15:40 IST
Many small businessmen and craftsmen of the country want to expand their business. But, they face the problem of capital. To help them, the central government has a special scheme, Pradhan Mantri Vishwakarma Yojana. In this, a loan of up to Rs 3 lakh is available at an interest rate of just 5 percent. For this, you do not even need to mortgage anything.
What is PM Vishwakarma Yojana
PM Vishwakarma Yojana is an ambitious scheme of the central government. Its purpose is to provide financial assistance and training to small craftsmen and artisans. It was started on 1 February 2023. Under this scheme, the loan is given at affordable interest for free skill training and employment. In this, Rs 500 is given daily during training. Also, an amount of Rs 15,000 is given through bank transfer to buy a tool kit. This scheme is being run by the Ministry of Micro, Small and Medium Enterprises (MSME).
Easy loan up to Rs 3 lakh
Under PM Vishwakarma Yojana, beneficiaries get a total loan of three lakh rupees. This amount is given in two phases. In the first phase, a loan of up to Rs 1 lakh is available, the duration of which will be 18 months. In the second phase, a loan of up to Rs 2 lakh is available, the duration of which will be 30 months. A concessional interest rate of only 5% will be applicable on this loan.
People associated with which professions are eligible?
People associated with 18 traditional professions can apply under the Pradhan Mantri Vishwakarma Yojana, such as:
Carpenters, boatbuilders
Blacksmiths, locksmiths
Goldsmiths, sculptors
Masons, fishermen
Dhobi, tailors, barbers
Toy makers, potters
Shoemakers, basket/mat/broom makers
Eligibility for the scheme
The applicant must be associated with any one of the 18 traditional professions listed.
The applicant must be 18 years old or above.
He should not already be a beneficiary of other schemes like PMEGP, PM Swanidhi, and Mudra Loan.
Government employees and their family members will not be eligible for this scheme.
How to apply for PM Vishwakarma Yojana?
To avail the benefits of this scheme, apply online at pmvishwakarma.gov.in.
Complete Aadhaar card verification and e-KYC.
Get verification from the concerned CSC center.
Download a digital certificate and identity card.
After applying, the verification process will be completed in three stages. After that, the applicants will get the benefit.
Source:
PM Vishwakarma Yojana:
https://pmvishwakarma.gov.in/
Guidelines related to PM Vishwakarma Yojana:
What is PM Vishwakarma Yojana
PM Vishwakarma Yojana is an ambitious scheme of the central government. Its purpose is to provide financial assistance and training to small craftsmen and artisans. It was started on 1 February 2023. Under this scheme, the loan is given at affordable interest for free skill training and employment. In this, Rs 500 is given daily during training. Also, an amount of Rs 15,000 is given through bank transfer to buy a tool kit. This scheme is being run by the Ministry of Micro, Small and Medium Enterprises (MSME).
Easy loan up to Rs 3 lakh
Under PM Vishwakarma Yojana, beneficiaries get a total loan of three lakh rupees. This amount is given in two phases. In the first phase, a loan of up to Rs 1 lakh is available, the duration of which will be 18 months. In the second phase, a loan of up to Rs 2 lakh is available, the duration of which will be 30 months. A concessional interest rate of only 5% will be applicable on this loan.
People associated with which professions are eligible?
People associated with 18 traditional professions can apply under the Pradhan Mantri Vishwakarma Yojana, such as:
Carpenters, boatbuilders
Blacksmiths, locksmiths
Goldsmiths, sculptors
Masons, fishermen
Dhobi, tailors, barbers
Toy makers, potters
Shoemakers, basket/mat/broom makers
Eligibility for the scheme
The applicant must be associated with any one of the 18 traditional professions listed.
The applicant must be 18 years old or above.
He should not already be a beneficiary of other schemes like PMEGP, PM Swanidhi, and Mudra Loan.
Government employees and their family members will not be eligible for this scheme.
How to apply for PM Vishwakarma Yojana?
To avail the benefits of this scheme, apply online at pmvishwakarma.gov.in.
Complete Aadhaar card verification and e-KYC.
Get verification from the concerned CSC center.
Download a digital certificate and identity card.
After applying, the verification process will be completed in three stages. After that, the applicants will get the benefit.
Source:
PM Vishwakarma Yojana:
https://pmvishwakarma.gov.in/
Guidelines related to PM Vishwakarma Yojana:
https://pmvishwakarma.gov.in/cdn/MiscFiles/eng_v30.0_PM_Vishwakarma_Guidelines_final.pdf
Disclaimer: This content has been sourced and edited from Dainik Jagran. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.
