PM Vishwakarma Yojana (Vishwakarma Samman Yojana): Eligibility, Benefits, and Loan Details

The interest rate payable by eligible beneficiaries under PM Vishwakarma Yojana is 5% per annum. The Government of India provides interest subvention to participating lending institutions, up to 8% as prescribed under the scheme. The first tranche is linked to completion of basic training, while access to the second tranche depends on repayment and the applicable conditions. Approval is not automatic.

The scheme's loan is intended for eligible artisans in notified trades. If a business needs a separate source of funding for other expenses, applicants can review the business loan interest rate and charges applicable to Bajaj Finance Business Loan and assess whether the product suits their needs.

Eligible beneficiaries can access up to Rs. 3 lakh in collateral-free Enterprise Development Loans under PM Vishwakarma Yojana. The first tranche of up to Rs. 1 lakh becomes available after completion of the prescribed basic training and is repayable over 18 months. A second tranche of up to Rs. 2 lakh may be available after repayment of the first tranche and fulfilment of the scheme’s additional conditions; it is repayable over 30 months.

To qualify for the second tranche, the beneficiary must repay the first tranche and meet the applicable requirements, which include maintaining a standard loan account and either adopting digital transactions or completing advanced training, as prescribed under the scheme. Applicants should confirm the current conditions with the authorised channel before applying.

PM Vishwakarma Yojana offers financial and non-financial assistance to eligible artisans. Along with access to concessional credit, it supports skill development, improved tools, recognition of traditional occupations and opportunities to reach more customers. The benefits available to an individual depend on eligibility, verification and the relevant scheme conditions.

These benefits can help artisans strengthen their existing occupations, improve their skills and explore wider markets. However, the scheme does not guarantee business income, customer demand or loan approval.

PM Vishwakarma Yojana is intended for people aged 18 years or above who are self-employed in the unorganised sector and actively work in one of the scheme's 18 notified traditional trades. Applicants must meet the scheme's family, occupation and previous-loan conditions. There is no general upper age limit specified for the scheme, and there is no universal income ceiling applicable to every applicant.

Women artisans can apply if they meet the same eligibility conditions. Applicants should check their occupation against the official list before registering, as working in a traditional or craft-related business does not automatically make someone eligible.

Example

Consider a self-employed woman tailor in a Tier 2 city who stitches garments using traditional skills and tools. If her work meets the scheme's trade requirements and she satisfies the age, family and other eligibility conditions, she may apply through an authorised CSC. Approval and access to specific benefits depend on verification and scheme rules.

PM Vishwakarma Yojana covers 18 notified traditional trades. Applicants must work in one of these occupations and meet the other eligibility conditions. The list includes craftspeople who make, repair or work with products using traditional skills and tools. Not every artisan, textile worker or small business owner qualifies automatically; the actual occupation must match a notified trade.

Textile weavers are not listed as a separate trade in the scheme. A person involved in weaving should check whether their actual work falls under a notified occupation, such as coir weaving, rather than assuming that all types of weaving are covered.

To register for PM Vishwakarma Yojana, visit an authorised Common Service Centre (CSC). The official portal, pmvishwakarma.gov.in, provides scheme information, while CSC operators assist with the application and Aadhaar-based authentication. Applications then pass through the prescribed verification process.

Follow these steps to complete registration through an authorised CSC:

• Check your eligibility: Confirm that your occupation appears in the notified list of 18 trades and that you meet the age, family and other conditions.
• Visit an authorised CSC: Take your documents and relevant personal, family, banking and occupation details.
• Complete Aadhaar authentication: Be prepared for Aadhaar-based biometric authentication as part of the registration process.
• Provide the required information: The CSC operator will record your personal details, family information, bank account details and trade-related information.
• Submit the application: Review the details entered and complete the application process.
• Keep your application details: Retain the acknowledgement or reference information provided to you.
• Wait for verification: Applications pass through the prescribed local-body or urban local-body level, District Implementation Committee and Screening Committee.

Registration does not guarantee approval. The relevant authorities verify the application and determine eligibility under the scheme's rules.

No, registration under PM Vishwakarma Yojana is free of charge. Eligible artisans should apply through an authorised CSC and should not pay an agent who promises guaranteed approval, a loan or faster access to benefits. If anyone demands money for registration or makes claims that appear suspicious, verify the details through the official scheme portal or authorised channel before proceeding.

Applicants should keep their identity, family, banking and occupation details ready when visiting a CSC. The exact information required may depend on the applicant's circumstances and the verification process. A caste certificate, income certificate, business registration certificate or a three-month bank statement should not be assumed to be a universal requirement for every applicant.

Applicants should confirm the current document requirements with the authorised CSC before visiting. Providing the required details does not by itself establish eligibility or guarantee approval.

PM Vishwakarma Yojana and a Bajaj Finance Business Loan serve different funding needs. The government scheme is specifically designed for eligible artisans working in 18 notified trades and combines credit with training and other support. A Bajaj Finance business loan is a separate commercial lending product that may suit eligible business owners and professionals who need funding for broader business requirements. The applicable amount, rate and approval conditions differ.

Applicants considering a separate loan should review the applicable terms, charges, eligibility requirements and repayment obligations before applying.

Example

Imagine a self-employed coir weaver who wants to improve product quality, upgrade tools, and reach more customers. If the occupation and other details meet the scheme rules, the artisan could apply for eligible training, toolkit assistance, and credit. For additional business expenses beyond the scheme, a separate Bajaj Finance business loan may be considered, subject to eligibility and terms.

Before registering for PM Vishwakarma Yojana, applicants should check the scheme's eligibility requirements and understand how the benefits work. The following checklist can help them prepare:

• Confirm that your actual occupation matches one of the 18 notified trades.
• Check that you are at least 18 years old and meet the family eligibility conditions.
• Review the rules on previous government credit-based self-employment loans, including applicable exceptions.
• Keep your Aadhaar, mobile number, bank details and family information ready.
• Apply through an authorised CSC and complete the required authentication.
• Understand that the second loan tranche depends on repayment and other scheme conditions.
• Do not pay anyone who promises guaranteed registration, approval or disbursement.
• Refer to the official portal, pmvishwakarma.gov.in, or an authorised CSC for current application guidance.

Artisans who need funding for requirements beyond the scheme's scope can separately review commercial options such as a Bajaj Finance Business Loan. Any such borrowing is subject to the lender's eligibility criteria, approval and applicable terms.

PM Vishwakarma Yojana can support eligible artisans through concessional credit, training, and toolkit assistance. If you need additional funds for broader business expenses, such as purchasing raw materials, managing working capital, or expanding operations, you could explore a separate Bajaj Finance Business Loan. 

Eligible applicants may access loan amounts from Rs. 2 lakh to Rs. 80 lakh, subject to the lender’s eligibility criteria, credit assessment, and applicable terms. This commercial loan is separate from the government scheme and does not include its concessional 5% interest rate or scheme benefits. The interest rate for a Bajaj Finance Business Loan ranges from 14% to 23.50% per annum; processing fees may be up to 4.72% of the loan amount, inclusive of applicable taxes. 

Check your requirements and repayment capacity before proceeding, then check your business loan eligibility to understand whether you may qualify. Approval and disbursal are subject to the lender’s assessment and applicable terms.