banner-image

PM SVANidhi Scheme (a special micro credit facility for street vendors)

Facility Type

Fund Based- Working Capital Demand Loan (WCDL) / Overdraft


Purpose

The scheme is a Central Sector Scheme i.e. fully funded by Ministry of Housing and Urban Affairs (MoHUA) with the following objectives:

  • To incentivize regular repayment; and
  • To reward digital transactions (cash back upto maximum of Rs.1200.00)

Eligibility

The Scheme is available to all street vendors (SV) engaged in vending in urban areas on or before March 24, 2020. The eligible vendors will be identified as per following criteria

  • Street vendors identified in survey and in possession of Certificate of Vending / Identity Card issued by Urban Local Bodies (ULBs);
  • The Vendors, who have been identified in the survey but have not been issued Certificate of Vending / Identity Card; Provisional Certificate of Vending would be generated for such vendors through an IT based Platform by ULBs.
  • Street Vendors, left out of the ULB-led identification survey or who have started vending after completion of the survey and have been issued Letter of Recommendation (LoR) to that effect by the ULB / Town Vending Committee (TVC); and
  • The vendors of surrounding development/ peri-urban / rural areas vending in the geographical limits of the ULBs and have been issued Letter of Recommendation (LoR) to that effect by the ULB / TVC.

Loan Amount

Upto Rs. 10,000/- in 1st tranche, upto Rs. 20,000/- in 2nd tranche, Upto Rs. 50,000/- in 3rd tranche


Margin

NIL


Rate of Interest

BRLLR + SP + 5.65% p.a. i.e. with monthly rests.


Tenor and Repayment

For 1st tranche: Maximum up to 12 months, Repayable in 12 EMI starting from one month after disbursement and for 2nd tranche: Upto 18 months


Security

Hypothecation of stocks/Goods, No collateral to be obtained.

CGTMSE graded Guarantee Cover available on portfolio basis.


Processing Fees / Guarantee Fee Payable:

NIL

Request Callback

Please fill in these details, so we can call you back and assist you.

Select Loans and Advances Type
  • Loan Guarantee Scheme for Covid Affected Tourism Service Sector
  • Digital Mudra Loan
  • Digital MSME Loan
  • Pradhan Mantri Mudra Yojana
  • PM SVANidhi Scheme (a special micro credit facility for street vendors)
  • Pre-Sanctioned CME Loan Limits for Strategic Segment customers
  • Baroda Contractor Scheme Mumbai
  • Baroda Loan to Business Correspondents
  • Baroda MSE General Credit Card
  • Baroda SME Gold Card
  • Baroda SME Loan Pack
  • Baroda Vidyasthali Loan
  • Composite Loans
  • Loan for Construction and Mining Equipment
  • Credit Link Capital Subsidy Scheme (CLCSS)
  • Dealers/Traders - Agriculture Inputs
  • MSME Capex Loan and Capex Card
  • MSME Loan
  • SME Medium Term Loan
  • SME Short Term Loan
  • Standup India Scheme (SUI)
  • Technology and Quality Upgradation (TEQUP) Scheme
  • Term Finance
  • Vendor Bill Discounting Product for Vendors/Suppliers of Large Real Estate Developers

Thank you [Name] for showing interest in Bank of Baroda. Your details has been recorded and our executive will contact you soon.

Add this website to home screen

Are you Bank of Baroda Customer?

This is to inform you that by clicking on continue, you will be leaving our website and entering the website/Microsite operated by Insurance tie up partner. This link is provided on our Bank’s website for customer convenience and Bank of Baroda does not own or control of this website, and is not responsible for its contents. The Website/Microsite is fully owned & Maintained by Insurance tie up partner.


The use of any of the Insurance’s tie up partners website is subject to the terms of use and other terms and guidelines, if any, contained within tie up partners website.


Proceed to the website


Thank you for visiting www.bankofbaroda.in

X
We use cookies (and similar tools) to enhance your experience on our website. To learn more on our cookie policy, Privacy Policy and Terms & Conditions please click here. By continuing to browse this website, you consent to our use of cookies and agree to the Privacy Policy and Terms & Conditions.