PM Vishwakarma Yojana: Get Rs 3 lakh loan at just 5% interest rate

The central government is providing loans at a very low interest rate without any guarantee to artisans. Under this scheme, registered applicants will receive a loan from Rs 1 lakh to Rs 3 lakh at just a 5% interest rate.

Under this scheme, the government will initially provide a loan of Rs 1 lakh. After repaying this loan within 18 months, the beneficiary will be eligible for an additional loan of Rs 2 lakh. The interest rate will be only 5% in both phases.

In addition, applicants registered under this scheme will receive a voucher of Rs.15,000 to purchase tools required for their profession. Beneficiaries can use this voucher to buy equipment related to their work.

After applying under this scheme, beneficiaries are also provided training. Training will be provided for various professions like carpenters, goldsmiths, blacksmiths, masons, stone sculptors, barbers, etc.

This scheme is called the Pradhan Mantri Vishwakarma Yojana. According to the latest information released by the central government, as of Tuesday, 2.59 crore people have applied to benefit from this scheme. The registration of about 23.97 lakh applicants has been completed.