PM Vishwakarma Scheme offers collateral-free loans up to ₹3 lakh at 5% interest

Traditional artisans and craftspeople can get collateral-free business loans of up to ₹3 lakh through PM Vishwakarma scheme. This loan comes in two parts: up to ₹1 lakh to be paid back in 18 months, and up to ₹2 lakh to be paid back in 30 months. The interest rate for these loans is 5%.

Scheme benefits and eligibility

People 18 or older working in 18 specific traditional trades can get a toolkit incentive of up to ₹15,000 using e-vouchers. The scheme also pays a stipend of ₹500 each day during basic training of 5-7 days or advanced training of 15 days or more. Also, beneficiaries get ₹1 for every eligible digital transaction, up to 100 transactions every month.

The scheme runs through FY 2027-28 with a budget of ₹13,000 crore. Apply through PM Vishwakarma portal and Common Services Centres. For details, visit the official PM Vishwakarma Yojana page.