How to Get a Government Loan of ₹10,000: Apply Online with Aadhaar

The Government of India is offering a special loan scheme that allows individuals to secure funds using only their Aadhaar card. This initiative requires no guarantee, as the government itself backs your application, and ensures that the loan comes with a very low interest rate. This article provides a step-by-step guide on how to apply for this loan online based on the information provided.

Understanding the Loan Structure

This is a tiered loan scheme designed to support individuals in phases.

• First Loan: You will initially receive a loan of ₹10,000.
• Second Loan: After successfully repaying the first loan, you become eligible for a second loan of ₹20,000.
• Third Loan: Upon repayment of the second loan, you can then apply for a third loan of ₹50,000.

A key feature mentioned is that if you repay the loan amount, a portion of it may be forgiven.

A High-Success Scheme

This loan program has a high approval rate for applicants who fill out the form correctly. Statistics show a significant number of approvals:

• First Term Loan: Out of nearly 80 lakh (8 million) applicants, 70 lakh (7 million) were approved.
• Second Term Loan: Out of 29.62 lakh applicants, 24.20 lakh were approved.
• Third Term Loan: Out of 6.42 lakh applicants, 4.07 lakh were approved.

Providing correct and accurate information is crucial for your application to be successful.

How to Apply for the Loan Online: A Step-by-Step Guide

Follow these detailed steps to apply for the loan using your phone or laptop.

Step 1: Access the Official Portal

1. Open Google and search for “PM SVANidhi.”
2. Click on the first official portal link that appears, which is the Pradhan Mantri SVANidhi loan scheme portal. This scheme is also known as PM AtmaNirbhar Nidhi.

Step 2: Start the Application Process

1. On the homepage, locate and click on the “Apply LOR” button.
2. You will be prompted to enter your mobile number.
3. Fill in the captcha code and click on “Request OTP.”
4. Enter the OTP you receive on your mobile number and click “Verify” to log in.

Step 3: Aadhaar Verification

1. The system will ask, “Do you have an Aadhaar Card?” Click “Yes.”
2. Enter your 12-digit Aadhaar number.
3. An OTP will be sent to the mobile number registered with your Aadhaar card.
4. Enter this OTP and click “Verify” to proceed. Once verified, your Aadhaar details will be confirmed.

Step 4: Fill Out the Loan Application Form

After your Aadhaar is verified, you need to fill out the loan application form with the following details:

• Location Details: Select your State, District/Town, ULB (nearest city), and Ward Number.
• Personal Details: Your name will be auto-filled from your Aadhaar. Enter your Father’s or Spouse’s name, marital status, gender, and social category.
• Additional Information: Indicate if you are a person with a disability. Enter your Voter ID card number and the total number of members in your family.
• Address: Your address from your Aadhaar card will be auto-filled. If your current address is different, you can update it. If it is the same, select the “Same as above” option.
• Business/Vending Details:
  • Activity: Select the type of work you do (e.g., selling fruits and vegetables).
  • Place of Vending: Choose if you have a fixed location or a mobile business.
  • Duration: Mention how long you have been doing this work.
  • Operating Days and Time: Select the days of the week and the hours you work.
  • Location: Specify the area and nearest landmark where you operate.
  • Pin Code: Enter the pin code of your work area.

Step 5: Provide Bank and Financial Details

• Documents: You must upload at least one document, such as the first page of your bank passbook.
• Income: State your total monthly family income.
• Bank Account: Carefully provide your bank details, including the Bank Name, IFSC Code, Branch Name, and your Bank Account Number. This is the account where the loan amount will be deposited.
• Loan Amount: For the first loan, you can request an amount between ₹5,000 and ₹10,000. Enter your desired amount.
• Loan Purpose: Select the reason for the loan, such as “Working Capital,” “Business Expansion,” or “Purchase of Asset.”

Step 6: Final Submission

1. After filling in all the details, click “Submit.”
2. A preview of your entire application form will be displayed. Review all the information carefully to ensure it is correct. You can edit any mistakes at this stage.
3. If everything is accurate, click on “Final Submit.”

What Happens After You Apply?

After you submit your application, you will need to wait for a few days. A government official will contact you to verify the information and documents you provided. Once the verification is successfully completed, your application will be approved, and the loan amount will be transferred directly into the bank account you specified in the form.