PM Vishwakarma Yojana: What is the interest rate to be paid on the loan received under PM Vishwakarma Yojana?

The Government of India had launched a very wonderful scheme on the occasion of Vishwakarma Jayanti on 17 September 2023. The name of this scheme is Pradhan Mantri Vishwakarma Yojana. This scheme has been started especially to connect the poor artisans and craftsmen of the country with the mainstream of development. The Government of India has made a provision of a total budget of Rs 13 thousand crore for PM Vishwakarma Yojana. Through this scheme, the Government of India wants to benefit more than 30 lakh traditional artisans and craftsmen of the country. Not only this, the Government of India is providing skill training and financial assistance to craftsmen and artisans under the PM Vishwakarma Yojana. This scheme of the Government of India is very popular in the country.

At the same time, artisans and craftsmen also get loan facility under the Pradhan Mantri Vishwakarma Yojana. In such a situation, people often have this question that how much loan is available under the Pradhan Mantri Vishwakarma Yojana and what interest rates have to be paid on that loan?

Under the Pradhan Mantri Vishwakarma Yojana, a total loan of Rs 3 lakh is given in two phases. Under this scheme, the beneficiary is given a loan of Rs 1 lakh in the first phase. At the same time, for the expansion of the business, the government provides a loan of Rs 2 lakh to the beneficiary in the second phase.

The beneficiary does not have to pay high interest rates on the loan received under the Pradhan Mantri Vishwakarma Yojana. You have to pay only 5 percent interest on this loan.

If you want to take advantage of the Pradhan Mantri Vishwakarma Yojana, then you must have documents like Aadhar card, identity card, residence certificate, mobile number, caste certificate, bank account passbook, passport size photo etc. In the absence of these documents, your application can be canceled.